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June 19, 2014
09:28 EDTHOTStarwood says luxury portfolio to debt in China in next two years
Starwood Hotels & Resorts Worldwide announced that its luxury portfolio, comprised of the St. Regis, The Luxury Collection and W Hotels brands, will open four new hotels in China by the end of 2014, including The St. Regis Chengdu; The Azure Qiantang, a Luxury Collection Hotel, Hangzhou; The Castle Hotel, a Luxury Collection Hotel, Dalian; and W Beijing - Chang’an. This year, Starwood is on track to open more than 20 hotels across its nine brands in the region, including four openings from its luxury portfolio. In the past three years, Starwood doubled its luxury footprint in China, and the figure is expected to double again by the end of 2015.
News For HOT From The Last 14 Days
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September 30, 2015
09:08 EDTHOTWyndham appoints Chip Ohlsson as Chief Development Officer
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08:34 EDTHOTStratus Properties completes purchase of Block 21 JV
Stratus Properties (STRS) announced that on September 28, 2015, Stratus completed its previously announced acquisition of Canyon-Johnson Urban Fund II, L.P.'s approximate 58% joint venture interest in CJUF II Stratus Block 21 LLC, which owns a 36-story mixed-use development in downtown Austin, Texas, anchored by the W Austin Hotel & Residences (HOT), for approximately $62M. Stratus funded its acquisition of Canyon-Johnson's interest in Block 21 with approximately $32.3M of proceeds from its non-recourse term loan with Bank of America (BAC), a $20M term loan under Stratus' credit facility with Comerica Bank (CMA), and approximately $9.7M in cash. The Sale and Purchase Agreement contains customary representations and warranties, and the parties have agreed to indemnify each other in connection with the breach of such representations and warranties. Block 21 is now a wholly-owned subsidiary of Stratus. As of September 28, 2015, in addition to its real estate assets, Block 21 had cash and cash equivalents of approximately $22.8M.
September 28, 2015
08:17 EDTHOTStarwood says W brand to debut in Serbia in 2019
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