(MARCO ISLAND, FL) -- Marco Island Marriott Beach Resort recently announced the expansion of its res

Global commercial real estate firm CB Richard Ellis (CBRE) announced today the sale of the Sè Hotel in San Diego, California for $49 million. The 23-story, recently constructed mixed-use hotel and entertainment complex was sold, following an extensive marketing campaign, in a Section 363 sale to an affiliate of Kimpton Hotels Restaurants on behalf of the hotel's owner, 5th Ave Partners LLC which is the Debtor in Possession cheap online car rentals in Chapter 11 Bankruptcy Proceedings pending in the Central District of California. CBRE Hotels was engaged by the Debtor-in-Possession to manage the marketing and sales process for the property. The transaction closed in June. "We believe this transaction delivers a positive outcome for the parties--Kimpton adds a great new asset to its strong roster of luxury, boutique hotels and the value of the hotel was maximized for creditors," said Charles Quinn, Executive Vice President, CBRE Hotels. "Prism's industry leading experience as a receiver, chief restructuring officer and turn around operator was a major factor in maximizing the hotel's value." "CBRE did a great job with the marketing of the hotel and providing guidance to all involved in the process and the complications of a section 363 sale" said John Bailey with PHC Dallas, LLC, an affiliate of Prism Hotels Resorts, the court appointed Chief Restructuring Officer of the Debtor-in-Possession, 5th Avenue Partners LLC. The Debtor in Possession was represented by Marc Winthrop and Garrick Hollander of Winthrop Couchot P.C., Newport Beach, CA
The 184-room Sè Hotel is located at 1047 Fifth Avenue, San Diego, California. The hotel also includes 31,300 square feet of adjacent retail space, which is under a 15-year lease to the House of Blues, as well as the Suite and Tender Restaurant, the Siren Pool Bar and Uber Lounge, nearly 14,300 square feet of meeting space, a 5,500-square-foot spa, and an outdoor rooftop swimming pool with a 7,000-square-foot deck. In addition to Mr. Quinn, CBRE professionals who worked cheap online car rentals on the transaction were Ken Pearson, Managing director and Co-Leader of CBRE's Recovery and Restructuring Services practice, and Lewis Miller, Senior Vice President, CBRE Hotels. San Francisco-based Kimpton Hotels Restaurants operates 52 hotels and 53 restaurants in 23 cities.
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the first week of December. In year-over-year comparisons for the week, occupancy rose 2.7 percent to 51.0 percent, average daily rate increased 2.7 percent to US$99.42 and revenue per available room finished the week with an increase of 5.4 percent to US$50.71.
The U.S. Travel Association is commended the new agreement that will speed the border process for Canadian travelers visiting the United States while enhancing security. President Barack cheap online car rentals Obama and Canadian Prime Minister cheap online car rentals Stephen Harper announced highlights of joint action plan at a White House ceremony on December 7.
(MIAMI BEACH, FL) -- As the world's art aficionados, celebrities and super wealthy converge on the shores of South Beach this week to celebrate the tenth anniversary of Art Basel Miami Beach, the real celebrating should be done by the business proprietors in the local economy who will enjoy a multi-hundred million dollar economic windfall cheap online car rentals left in their wake.
Hospitality giant Marriott International has completed the spin-off of its fractional ownership and timeshare division, with equity shares of the new company, Marriott Vacations Worldwide Corporation, being distributed tax-free to Marriott International shareholders.
Based on new hotel data compiled by STR Global, hotel markets across the world reported mostly positive performance gains in October 2011. The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for October 2011.
(MARCO ISLAND, FL) -- Marco Island Marriott Beach Resort recently announced the expansion of its resort golf amenities with the addition of the 18-hole Hammock Bay Golf Course. The off-site facility, located only 10 minutes from the resort, is available exclusively to members and resort guests.