Native American Casino ((Feb): feature on the Desert Diamond Casino (Tohono O'odham Nation, AZ); unique facility features
American Indian Report (Feb): foreign tourism in Indian Country
Builder and Developer (Feb): new urbanism and Stapleton, CO; L.A. lofts
Western Cities (Feb): public transit necessities
Nation's Restaurant News (2/25): San Diego restaurants/Gaslamp District booming despite housing crisis
Museum (Jan-Feb): green programming and outreach; feature on the Field Museum (with a lovely picture of Sue);
Friday, February 29, 2008
real estate, retail, hotels, and meetings news
The Appraisal Journal (Wtr): sustainable property surveying; highest and best use appraisals; valuation of aircraft hangers; appraising water rights; valuing limited-service hotels; industrial incubator impacts; apartment market highest and best use analysis
M&C (Feb): CVBs cross-selling; the whys and wherefores of bed taxes; Destination guides for -- UT, HI (Big Island), L.A., and MO; special feature issue on new and renovating facilities
Hotels (Feb): Landmark Hotel plans for Abu Dhabi; special report on the GCC (Gulf Coast Council) -- Dubai, Abu Dhabi, UAE, etc.
Tradeshow Week (2/18): Las Vegas Sands earnings decline
National Real Estate Investor (Feb): Chicago's high-end mixed retail/condo development; China's impending hotel glut; air rights prices soaring in NYC; senior housing investors moving into medical office development
Tradeshow Week (2/11): Shreveport-Bossier City riverboat gaming; Biloxi recovery; gaming expansions throughout the U.S.
Shopping Center Business (Feb): U.S. Gulf Coast on rebound
VRN (Jan/Feb): Philadelphia Premium Outlets
M&C (Feb): CVBs cross-selling; the whys and wherefores of bed taxes; Destination guides for -- UT, HI (Big Island), L.A., and MO; special feature issue on new and renovating facilities
Hotels (Feb): Landmark Hotel plans for Abu Dhabi; special report on the GCC (Gulf Coast Council) -- Dubai, Abu Dhabi, UAE, etc.
Tradeshow Week (2/18): Las Vegas Sands earnings decline
National Real Estate Investor (Feb): Chicago's high-end mixed retail/condo development; China's impending hotel glut; air rights prices soaring in NYC; senior housing investors moving into medical office development
Tradeshow Week (2/11): Shreveport-Bossier City riverboat gaming; Biloxi recovery; gaming expansions throughout the U.S.
Shopping Center Business (Feb): U.S. Gulf Coast on rebound
VRN (Jan/Feb): Philadelphia Premium Outlets
business news
Fortune (3/3): Dubai World and the world
Business Week (2/18): GenY and social network advertising
Forbes (2/25): MGM Mirage path to diversification
Business Week (3/10): 2008 Olympics and the problem of Darfur; MGM Mirage and the conflict with Indian gaming in Detroit
Business Week (2/25): indoor waterparks
Business Week (2/18): GenY and social network advertising
Forbes (2/25): MGM Mirage path to diversification
Business Week (3/10): 2008 Olympics and the problem of Darfur; MGM Mirage and the conflict with Indian gaming in Detroit
Business Week (2/25): indoor waterparks
Calgary to get major mixed use for downtown Stampede
from today's GlobeSt (2/29):
Last updated: February 28, 2008 04:28pm
430,000-SF MXD District Kicks Off
By Michelle Deakin
"CALGARY, ALBERTA-A new downtown retail district is on tap for this Rocky Mountain City. Known as the Stampede Trail, it will include 430,000 sf of retail, hotel and office space and 17 acres of streetscapes and plazas. Projected to cost $200 million, the Stampede Trail will connect Calgary’s booming downtown with the city’s convention center, sports arena and the world’s largest rodeo.
The site is being developed by Alberta Development Partners, a Colorado-based real estate firm specializing in large-scale, mixed-use retail projects. It will include 170,000 sf of retail space, a 200,000-sf hotel, and 60,000 sf of office space. This week, Communication Arts, based in Boulder, Colo., was selected to design the site." ...
for the complete story
Last updated: February 28, 2008 04:28pm
430,000-SF MXD District Kicks Off
By Michelle Deakin
"CALGARY, ALBERTA-A new downtown retail district is on tap for this Rocky Mountain City. Known as the Stampede Trail, it will include 430,000 sf of retail, hotel and office space and 17 acres of streetscapes and plazas. Projected to cost $200 million, the Stampede Trail will connect Calgary’s booming downtown with the city’s convention center, sports arena and the world’s largest rodeo.
The site is being developed by Alberta Development Partners, a Colorado-based real estate firm specializing in large-scale, mixed-use retail projects. It will include 170,000 sf of retail space, a 200,000-sf hotel, and 60,000 sf of office space. This week, Communication Arts, based in Boulder, Colo., was selected to design the site." ...
for the complete story
Zion Lodge named sustainable hotel of the year
from today's STR Lodging news (2/29):
The Zion Lodge in Zion National Park Named the Sustainable Hotel of the Year by the HotelWorld Expo and Conference
"DENVER, Colo. | The historic Zion Lodge in Zion National Park was named the Sustainable Hotel of the Year at the HotelWorld Global Hospitality and Design Award Ceremony and Expo in Las Vegas last night.
The award was presented in recognition of the many environmental programs implemented by Denver-based operator Xanterra Parks & Resorts." ...
"Xanterra last year created six eco-friendly suites at Zion Lodge. The goals of the project were to incorporate as many environmentally sustainable features as possible and to ultimately reduce the consumption of natural resources and eliminate waste."
for the complete story
The Zion Lodge in Zion National Park Named the Sustainable Hotel of the Year by the HotelWorld Expo and Conference
"DENVER, Colo. | The historic Zion Lodge in Zion National Park was named the Sustainable Hotel of the Year at the HotelWorld Global Hospitality and Design Award Ceremony and Expo in Las Vegas last night.
The award was presented in recognition of the many environmental programs implemented by Denver-based operator Xanterra Parks & Resorts." ...
"Xanterra last year created six eco-friendly suites at Zion Lodge. The goals of the project were to incorporate as many environmentally sustainable features as possible and to ultimately reduce the consumption of natural resources and eliminate waste."
for the complete story
Happy Leap Day from the AZA!!!
I could not resist the simply brilliant marketing of one of our esteemed client groups --
So happy Year of the Frog! The AZA would like you to take this special day to appreciate the amphibians around you.... especially those at a member zoo.
So happy Year of the Frog! The AZA would like you to take this special day to appreciate the amphibians around you.... especially those at a member zoo.
Thursday, February 28, 2008
local and regional real estate/business news
California Real Estate Journal (2/25): issue special feature section on the industrial sector; retail result report dismal for January; "urban farms" and impact of Treasure Island development in San Francisco
California Real Estate Journal (2/11): special feature section on retail forecast for 2008; San Diego's Barrio Logan Mercado project; L.A. downtown Broadway renewal program
New Orleans City Business (2/18): Music Hall of Fame planned
Crain's Chicago Business (2/4): Wrigley naming rights; retail vacancies rise; retail spending declines
Los Angeles Business Journal (2/25): CRA plans to use Westlake Theater in MacArthur Park as anchor for mixed-use development
California Real Estate Journal (2/19): special forecast feature for 2008 multifamily ; Santa Monica Place open-air plans;
Los Angeles Business Journal (2/18): list of top performing arts centers by seating capacity
New Orleans City Business (2/4): Port seeking infrastructure funding
San Diego Business Journal (2/18): Lindbergh Field revitalization plans
Los Angeles Business Journal (2/4): Downtown L.A. real estate market
Los Angeles Business Journal (2/11): home sales down 30%
San Diego Business Journal (2/11): San Diego takes state record in 2007 for new hotel rooms
Crain's Chicago Business (2/18): office vacancy rate dropping; retail vacancies in the Loop rise
New Orleans City Business (2/11): New Orleans construction industry on the rise
Orange County Business Journal (2/18): special section on OC residential real estate -- condos, sales rates, top developers, etc.
California Real Estate Journal (2/11): special feature section on retail forecast for 2008; San Diego's Barrio Logan Mercado project; L.A. downtown Broadway renewal program
New Orleans City Business (2/18): Music Hall of Fame planned
Crain's Chicago Business (2/4): Wrigley naming rights; retail vacancies rise; retail spending declines
Los Angeles Business Journal (2/25): CRA plans to use Westlake Theater in MacArthur Park as anchor for mixed-use development
California Real Estate Journal (2/19): special forecast feature for 2008 multifamily ; Santa Monica Place open-air plans;
Los Angeles Business Journal (2/18): list of top performing arts centers by seating capacity
New Orleans City Business (2/4): Port seeking infrastructure funding
San Diego Business Journal (2/18): Lindbergh Field revitalization plans
Los Angeles Business Journal (2/4): Downtown L.A. real estate market
Los Angeles Business Journal (2/11): home sales down 30%
San Diego Business Journal (2/11): San Diego takes state record in 2007 for new hotel rooms
Crain's Chicago Business (2/18): office vacancy rate dropping; retail vacancies in the Loop rise
New Orleans City Business (2/11): New Orleans construction industry on the rise
Orange County Business Journal (2/18): special section on OC residential real estate -- condos, sales rates, top developers, etc.
Wednesday, February 27, 2008
New Wyndham resort for St. Croix
from this afternoon's Hotels newsfeed (2/27):
Copyright 2008 Market Wire, Incorporated
All Rights Reserved
Market Wire
February 27, 2008 Wednesday 5:00 AM GMT
Wyndham Hotels and Resorts to Enter New Caribbean Market: St. Croix
PARSIPPANY, NJ; Feb 27, 2008
"Wyndham Hotels and Resorts today announced it will enter a new Caribbean market with the development of the luxury 400-room Wyndham(R) St. Croix Golf Resort and Casino, which will become the keystone of a $250 million complex that includes a new 43,000-square foot conference center on St. Croix, U.S. Virgin Islands.
The 294-acre property, scheduled to break ground this spring and open in 2010, will be developed by New Jersey-based Golden Resorts LLLP in joint ownership with Jericho All-Weather Opportunity Fund of Boca Raton, Fla., and managed by Wyndham Hotel Management Company.
The resort will feature a 25,000 square-foot casino; 18-hole Jack Nicklaus signature golf course; 17,000 square-foot world-class spa and fitness center; four restaurants; lounges; retail stores; and kid's club."
for the complete story
Copyright 2008 Market Wire, Incorporated
All Rights Reserved
Market Wire
February 27, 2008 Wednesday 5:00 AM GMT
Wyndham Hotels and Resorts to Enter New Caribbean Market: St. Croix
PARSIPPANY, NJ; Feb 27, 2008
"Wyndham Hotels and Resorts today announced it will enter a new Caribbean market with the development of the luxury 400-room Wyndham(R) St. Croix Golf Resort and Casino, which will become the keystone of a $250 million complex that includes a new 43,000-square foot conference center on St. Croix, U.S. Virgin Islands.
The 294-acre property, scheduled to break ground this spring and open in 2010, will be developed by New Jersey-based Golden Resorts LLLP in joint ownership with Jericho All-Weather Opportunity Fund of Boca Raton, Fla., and managed by Wyndham Hotel Management Company.
The resort will feature a 25,000 square-foot casino; 18-hole Jack Nicklaus signature golf course; 17,000 square-foot world-class spa and fitness center; four restaurants; lounges; retail stores; and kid's club."
for the complete story
London RevPAR down
from today's Hotels newsfeed (2/27):
Copyright 2008 AFX News Limited
All Rights Reserved
Thomson Financial News Super Focus
February 27, 2008 Wednesday 12:16 AM GMT
PWC sees London RevPAR growth slowing to 6 pct in 2008
"Accountancy firm PricewaterhouseCoopers (PWC) believes RevPAR (revenue per available room) in London could still breach the 100 stg threshold in 2008, despite slowing to 6 pct growth from 11.1 pct in 2007.
In a report entitled 'UK Hotels: slowdown not meltdown', PWC said RevPar in the UK capital in its central case scenario is expected to slow from 11.1 pct this year to 6 pct next year and 4.4 pct in 2009. It expects RevPAR in the provinces to break through the 50 stg barrier this year, with growth of 3.2 pct, followed by growth of 3.2 growth in 2009.
Even though it believes the situation is far from rosy, it says there is no reason to expect a meltdown in the UK hotel sector at the current time." ...
for the complete story
Note: The report itself is not out yet, but I'll keep a look out for it.
Copyright 2008 AFX News Limited
All Rights Reserved
Thomson Financial News Super Focus
February 27, 2008 Wednesday 12:16 AM GMT
PWC sees London RevPAR growth slowing to 6 pct in 2008
"Accountancy firm PricewaterhouseCoopers (PWC) believes RevPAR (revenue per available room) in London could still breach the 100 stg threshold in 2008, despite slowing to 6 pct growth from 11.1 pct in 2007.
In a report entitled 'UK Hotels: slowdown not meltdown', PWC said RevPar in the UK capital in its central case scenario is expected to slow from 11.1 pct this year to 6 pct next year and 4.4 pct in 2009. It expects RevPAR in the provinces to break through the 50 stg barrier this year, with growth of 3.2 pct, followed by growth of 3.2 growth in 2009.
Even though it believes the situation is far from rosy, it says there is no reason to expect a meltdown in the UK hotel sector at the current time." ...
for the complete story
Note: The report itself is not out yet, but I'll keep a look out for it.
Sofitel goes green via wind
from today's Hotel newsfeed (2/27):
Copyright 2008 Business Wire, Inc.
Business Wire
February 27, 2008 Wednesday 5:03 PM GMT
Business Editors; Environment Writers
Sofitel Hotels Become First Hotel Chain in the U.S. to Choose Wind Power and Become EPA Green Power Partner;
Wind Energy Commitment is the Latest Sofitel Effort to Increase Energy Efficiency
DALLAS
"Accor North America announced today a new agreement between its Sofitel Hotels and wind energy supplier Community Energy, Inc. to purchase clean, renewable, wind energy for all nine Sofitel locations in the U.S. This purchase of wind-generated power in the form of Renewable Energy Certificates (RECs) qualifies Sofitel Hotels as an EPA Green Power Partner, making them the first hotel chain to choose green power for each of the brand's hotel locations in the country." ....
for the complete story
Copyright 2008 Business Wire, Inc.
Business Wire
February 27, 2008 Wednesday 5:03 PM GMT
Business Editors; Environment Writers
Sofitel Hotels Become First Hotel Chain in the U.S. to Choose Wind Power and Become EPA Green Power Partner;
Wind Energy Commitment is the Latest Sofitel Effort to Increase Energy Efficiency
DALLAS
"Accor North America announced today a new agreement between its Sofitel Hotels and wind energy supplier Community Energy, Inc. to purchase clean, renewable, wind energy for all nine Sofitel locations in the U.S. This purchase of wind-generated power in the form of Renewable Energy Certificates (RECs) qualifies Sofitel Hotels as an EPA Green Power Partner, making them the first hotel chain to choose green power for each of the brand's hotel locations in the country." ....
for the complete story
Miami Dolphis/land deal announced
from this morning's GlobeSt (2/27):
Last updated: February 27, 2008 08:31am
Related's Ross Gets Dolphins Real Estate
By Natalie Dolce
"NEW YORK CITY-International law firm Paul, Hastings, Janofsky & Walker LLP represented locally based Stephen Ross, chairman and CEO of the Related Cos., in his 50% purchase of the Miami Dolphins franchise, Dolphin Stadium and certain adjacent real estate. The transaction, subject to NFL approval, is valued at approximately $1.1 billion.
The law firm explains to GlobeSt.com that the information regarding the adjacent real estate that was purchased "is still on the table" and "is likely to be settled next week;" however, they did confirm that it will include developable land. The developable land mentioned, according to a press conference on Feb. 22, includes 110 acres around the stadium." ...
for the complete story
Last updated: February 27, 2008 08:31am
Related's Ross Gets Dolphins Real Estate
By Natalie Dolce
"NEW YORK CITY-International law firm Paul, Hastings, Janofsky & Walker LLP represented locally based Stephen Ross, chairman and CEO of the Related Cos., in his 50% purchase of the Miami Dolphins franchise, Dolphin Stadium and certain adjacent real estate. The transaction, subject to NFL approval, is valued at approximately $1.1 billion.
The law firm explains to GlobeSt.com that the information regarding the adjacent real estate that was purchased "is still on the table" and "is likely to be settled next week;" however, they did confirm that it will include developable land. The developable land mentioned, according to a press conference on Feb. 22, includes 110 acres around the stadium." ...
for the complete story
Tuesday, February 26, 2008
Silverdome sale saga continues
from today's GlobeSt. (2/26):
Last updated: February 26, 2008 11:31am
City Takes Another Turn With Silverdome Bids
By Robert Carr
"PONTIAC, MI-After numerous bid offer rejections and massive plan announcements that died out like slowly-leaking balloons, the Pontiac Silverdome site is still vacant since 2002, and the recent release of six more proposals is almost too reminiscent of the Boy Who Cried Wolf. The local office of CB Richard Ellis here took on the task last year to try to boost attention to the stadium, the former home of the Detroit Lions football team, but even the national company hasn’t been able to secure a deal with the local City Council.
Earlier this month, the council rejected another seven bids that were made in October with plans that included a convention center, hotel, stores, offices, theaters, housing and even racetracks and aquariums, by companies such as Danou Enterprises. It’s not clear how many proposals the council has already rejected in the five years, but the number is at least more than 20, and could be more than 30.
Now, CBRE says the city has received five more proposals to purchase the site, and one lease plan. The submissions were received from Stuart Frankel Development Co., United Assurance Co./International Synergy Holding Co. Ltd., US Hospitality Inc., Global Baseball Inc., Silver Stallion International LLC and, again, Danou, under the cover of the company Smart Park International LLC. The proposals reportedly include a roughly $500-million plan by United Assurance to build a video-game/live broadcast theme park, and office parks and retail developments." ....
for the complete story
Last updated: February 26, 2008 11:31am
City Takes Another Turn With Silverdome Bids
By Robert Carr
"PONTIAC, MI-After numerous bid offer rejections and massive plan announcements that died out like slowly-leaking balloons, the Pontiac Silverdome site is still vacant since 2002, and the recent release of six more proposals is almost too reminiscent of the Boy Who Cried Wolf. The local office of CB Richard Ellis here took on the task last year to try to boost attention to the stadium, the former home of the Detroit Lions football team, but even the national company hasn’t been able to secure a deal with the local City Council.
Earlier this month, the council rejected another seven bids that were made in October with plans that included a convention center, hotel, stores, offices, theaters, housing and even racetracks and aquariums, by companies such as Danou Enterprises. It’s not clear how many proposals the council has already rejected in the five years, but the number is at least more than 20, and could be more than 30.
Now, CBRE says the city has received five more proposals to purchase the site, and one lease plan. The submissions were received from Stuart Frankel Development Co., United Assurance Co./International Synergy Holding Co. Ltd., US Hospitality Inc., Global Baseball Inc., Silver Stallion International LLC and, again, Danou, under the cover of the company Smart Park International LLC. The proposals reportedly include a roughly $500-million plan by United Assurance to build a video-game/live broadcast theme park, and office parks and retail developments." ....
for the complete story
Monday, February 25, 2008
Ski Resorts beat annual inflation rate for growth
from today's NSGA Research Newsletter (2/25):
Ski Resort Revenues Grow, Profitability Healthy
"According to preliminary results of the National Ski Areas Association (NSAA) Economic Analysis, the 2006/07 ski season was another strong season financially. The past season was the fifth consecutive year of solid financial performance with increases in gross revenue and a healthy operating profit for the ski resort industry.
In 2006/07, average gross revenue grew 5.7%, to a total of $23.0 million per resort. Over the past five years, gross revenue has grown 21.5%, averaging 4.3% per year." ...
for the complete story check out www.nsga.org
Ski Resort Revenues Grow, Profitability Healthy
"According to preliminary results of the National Ski Areas Association (NSAA) Economic Analysis, the 2006/07 ski season was another strong season financially. The past season was the fifth consecutive year of solid financial performance with increases in gross revenue and a healthy operating profit for the ski resort industry.
In 2006/07, average gross revenue grew 5.7%, to a total of $23.0 million per resort. Over the past five years, gross revenue has grown 21.5%, averaging 4.3% per year." ...
for the complete story check out www.nsga.org
Las Vegas Sahara renovation plans approved
from the Las Vegas Review Journal (2/23):
Commission green-lights Sahara remodeling plan
Project calls for construction of one tower, demolition of another, renovation of two
By HOWARD STUTZ
REVIEW-JOURNAL
"Clark County commissioners this week approved remodeling plans for the Sahara, which would include a new high-rise hotel tower and the demolition of the property's older mid-rise tower.
No price has been given for the makeover, which is conceptual, according to a spokesman for SBE Entertainment Group, the operating partner of the Sahara. Los Angeles-based SBE and private equity firm Stockbridge Real Estate Funds of San Francisco purchased the Rat Pack-era Sahara last year for between $300 million and $400 million.
Since taking over the hotel-casino in August, the owners have spent $2 million to enhance the 55-year-old Sahara, which has 1,720 hotel rooms and sits on an 18-acre parcel.
The plans submitted to Clark County call for a new 520-foot hotel tower with 1,000 rooms, the renovation of the existing two high-rise hotel towers and the removal of the 200-room mid-rise tower. Upon completion, the Sahara would have 2,506 hotel rooms." ....
for the complete story
Commission green-lights Sahara remodeling plan
Project calls for construction of one tower, demolition of another, renovation of two
By HOWARD STUTZ
REVIEW-JOURNAL
"Clark County commissioners this week approved remodeling plans for the Sahara, which would include a new high-rise hotel tower and the demolition of the property's older mid-rise tower.
No price has been given for the makeover, which is conceptual, according to a spokesman for SBE Entertainment Group, the operating partner of the Sahara. Los Angeles-based SBE and private equity firm Stockbridge Real Estate Funds of San Francisco purchased the Rat Pack-era Sahara last year for between $300 million and $400 million.
Since taking over the hotel-casino in August, the owners have spent $2 million to enhance the 55-year-old Sahara, which has 1,720 hotel rooms and sits on an 18-acre parcel.
The plans submitted to Clark County call for a new 520-foot hotel tower with 1,000 rooms, the renovation of the existing two high-rise hotel towers and the removal of the 200-room mid-rise tower. Upon completion, the Sahara would have 2,506 hotel rooms." ....
for the complete story
Plans for Chicago's Michigan Avenue
from today's Crain's Chicago Business (2/25):
Filling a void on Michigan Ave.
By Eddie Baeb and Thomas A. Corfman Feb. 25, 2008
"(Crain's) — An influential panel wants to tax Michigan Avenue property owners between the Chicago River and Millennium Park to pay for $165 million in streetscape improvements on that dreary stretch of boulevard.
A group of architects, urban planners and retail experts will this week introduce a plan to liven up the strip, where T-shirt shops and empty storefronts stand in stark contrast to the gleaming Millennium Park on one end and the Magnificent Mile on the other." ...
for the complete story
Filling a void on Michigan Ave.
By Eddie Baeb and Thomas A. Corfman Feb. 25, 2008
"(Crain's) — An influential panel wants to tax Michigan Avenue property owners between the Chicago River and Millennium Park to pay for $165 million in streetscape improvements on that dreary stretch of boulevard.
A group of architects, urban planners and retail experts will this week introduce a plan to liven up the strip, where T-shirt shops and empty storefronts stand in stark contrast to the gleaming Millennium Park on one end and the Magnificent Mile on the other." ...
for the complete story
Moulin Rouge rehab plans
from today's Las Vegas Sun (2/25):
ONCE AGAIN, A PLAN FOR RENEWING THE MOULIN ROUGE
Proposal to revive civil rights landmark to be presented today
By Timothy Pratt
Mon, Feb 25, 2008 (2 a.m.)
"A dozen or so apartments remain on the Moulin Rouge site. Much of the property was destroyed by a fire in 2003.
For at least the third time in the past four years, the Moulin Rouge has announced it will rise again, this time propped up by a Virginia-based company’s investment.
The Bonanza Road hotel’s owners will present their casino and hotel construction plans to the community this afternoon in a public meeting at their offices east of the hotel.
The stakes are high because the Moulin Rouge is one of only about 20 local listings on the National Register of Historic Places — and the only one connected to civil rights." ...
"Starting in 2004, owners of the property began announcing that the Moulin Rouge would return to glory, and add a museum. At least two attempts failed. This month Republic Urban Properties, based just outside Washington, D.C., said it will invest up to $1 billion in a 700-room hotel, with restaurants, a concert hall, stores and gambling.
The announcement was carried in reports around the country, but those familiar with the site are skeptical about the plan. The property is in a run-down neighborhood, near one of the valley’s largest homeless shelters.
There’s also the track record of Chauncey Moore, chief operating officer of Moulin Rouge Development Corp., the local company that owns the property. Moore is currently a defendant in lawsuits filed in three states." ...
for the complete story
ONCE AGAIN, A PLAN FOR RENEWING THE MOULIN ROUGE
Proposal to revive civil rights landmark to be presented today
By Timothy Pratt
Mon, Feb 25, 2008 (2 a.m.)
"A dozen or so apartments remain on the Moulin Rouge site. Much of the property was destroyed by a fire in 2003.
For at least the third time in the past four years, the Moulin Rouge has announced it will rise again, this time propped up by a Virginia-based company’s investment.
The Bonanza Road hotel’s owners will present their casino and hotel construction plans to the community this afternoon in a public meeting at their offices east of the hotel.
The stakes are high because the Moulin Rouge is one of only about 20 local listings on the National Register of Historic Places — and the only one connected to civil rights." ...
"Starting in 2004, owners of the property began announcing that the Moulin Rouge would return to glory, and add a museum. At least two attempts failed. This month Republic Urban Properties, based just outside Washington, D.C., said it will invest up to $1 billion in a 700-room hotel, with restaurants, a concert hall, stores and gambling.
The announcement was carried in reports around the country, but those familiar with the site are skeptical about the plan. The property is in a run-down neighborhood, near one of the valley’s largest homeless shelters.
There’s also the track record of Chauncey Moore, chief operating officer of Moulin Rouge Development Corp., the local company that owns the property. Moore is currently a defendant in lawsuits filed in three states." ...
for the complete story
Monday, February 11, 2008
Midway Privatization
from this Morning's Crain's Chicago Business (2/11):
Airlines near Midway deal
By Paul Merrion
Feb. 11, 2008
"Mayor Richard M. Daley's plan to privatize Midway Airport is gaining altitude.
Airlines operating at Midway say an agreement is near that would allow the city to seek a private operator for the South Side airport, a deal expected to raise up to $3 billion for Chicago's underfunded public pension plans and long-term infrastructure needs.
Under the federal law that allows Midway to be privatized, five of the seven airlines operating there must approve the deal's terms before it can be put out for bid." ...
"The airlines have been seeking assurances from the city that their costs at Midway won't go up dramatically and that the airport's operations and maintenance would not suffer so that a private operator could make a profit." ...
"While commercially operated airports are common internationally, Midway would be the first major U.S. airport to go private." ...
for the complete story
Airlines near Midway deal
By Paul Merrion
Feb. 11, 2008
"Mayor Richard M. Daley's plan to privatize Midway Airport is gaining altitude.
Airlines operating at Midway say an agreement is near that would allow the city to seek a private operator for the South Side airport, a deal expected to raise up to $3 billion for Chicago's underfunded public pension plans and long-term infrastructure needs.
Under the federal law that allows Midway to be privatized, five of the seven airlines operating there must approve the deal's terms before it can be put out for bid." ...
"The airlines have been seeking assurances from the city that their costs at Midway won't go up dramatically and that the airport's operations and maintenance would not suffer so that a private operator could make a profit." ...
"While commercially operated airports are common internationally, Midway would be the first major U.S. airport to go private." ...
for the complete story
Saturday, February 9, 2008
Happy Anniversary ERA
Though it has had a low profile so far, it is our 50th Anniversary! Congratulations to all the ERA Family past and present.
retail and hotel news
VRN (Jan/Feb): Philadelphia Premium Outlets
Real Estate Forum (Jan): green retail development trends; condo hotels and the mortgage crisis
Hotels (Jan): green development special issue
Shopping Center Business (Jan): Las Vegas retail
Shopping Center Business (Feb): Gulf Coast retail
Real Estate Forum (Jan): green retail development trends; condo hotels and the mortgage crisis
Hotels (Jan): green development special issue
Shopping Center Business (Jan): Las Vegas retail
Shopping Center Business (Feb): Gulf Coast retail
rec news
Connect (AZA) (Jan): Shedd going green
Funworld (Jan): Birmingham Zoo and San Diego Zoo announce elephant exhibit expansions; Cedar Fair announces non-waterpark elements of Guega Lake and Wildwater Kingdom park to be closed; Disney expanding Grand California; new coasters for Hersheypark, 6 Flags Fiesta Texas, 6 Flags Great America, 6 Flags Great Adventure, 6 Flags New England, 6 Flags St. Louis, Michigan's Adventure; Kalahari Sandusky expanding; tower planned for Warwickshire, UK
World Waterpark (Jan): King's Pointe (IO); Vichy Aqua Park (Lithuania); Gulf Islands waterpark (LA)
Funworld (Feb): Ferrari theme park UAE; FL (Tampa) aquarium expansion; Legoland CA expansion; Disney California Adventure expansion; Thomas the Tank for Dayton Manor Theme Park (Staffordshire, UK); museums looking to land space shuttles
Funworld (Jan): Birmingham Zoo and San Diego Zoo announce elephant exhibit expansions; Cedar Fair announces non-waterpark elements of Guega Lake and Wildwater Kingdom park to be closed; Disney expanding Grand California; new coasters for Hersheypark, 6 Flags Fiesta Texas, 6 Flags Great America, 6 Flags Great Adventure, 6 Flags New England, 6 Flags St. Louis, Michigan's Adventure; Kalahari Sandusky expanding; tower planned for Warwickshire, UK
World Waterpark (Jan): King's Pointe (IO); Vichy Aqua Park (Lithuania); Gulf Islands waterpark (LA)
Funworld (Feb): Ferrari theme park UAE; FL (Tampa) aquarium expansion; Legoland CA expansion; Disney California Adventure expansion; Thomas the Tank for Dayton Manor Theme Park (Staffordshire, UK); museums looking to land space shuttles
misc news
Economic Development Quarterly (Feb): special issue on "the creative class"
American Indian Report (Jan): Indian housing
Journal of the American Planning Assn (Winter): Baby Boomers and generational housing
Urban Land (Jan): transit/TOD and retail special issue; area spotlight on CA
IGWB (Feb): Spanish casino boom; MGM Macau opens; Macau casino revenues 2007 annual report; Chicago casino development; Seminole pact approved by Federal authority; Israeli casinos; Las Vegas resorts; M Resort (Las Vegas)
American Indian Report (Jan): Indian housing
Journal of the American Planning Assn (Winter): Baby Boomers and generational housing
Urban Land (Jan): transit/TOD and retail special issue; area spotlight on CA
IGWB (Feb): Spanish casino boom; MGM Macau opens; Macau casino revenues 2007 annual report; Chicago casino development; Seminole pact approved by Federal authority; Israeli casinos; Las Vegas resorts; M Resort (Las Vegas)
regional and local real estate news
California Real Estate Journal (2/4): 2008 office forecasts by area; affordable housing
New Orleans City Business (1/21): LA film tax credits promote industry out of slump in state; updated targeted recovery area map
Orange County Business Journal (1/21): hotel meeting space expansions; list of meeting space in the county; hotels with small meeting space
San Fernando Valley Business Journal (1/21): Glendale hotel corridor under consideration
San Diego Business Journal (1/21): Chargers stadium saga continues
San Diego Business Journal (2/4): Hilton Bayfront development progress
San Fernando Business Journal (2/4): Valley commercial real estate special report including multi-family housing, office/industrial space, and lifestyle retail
Kiplinger CA Letter (1/30): San Diego -- Viejas Casino, hotels planned for Lane Field
New Orleans City Business (1/21): LA film tax credits promote industry out of slump in state; updated targeted recovery area map
Orange County Business Journal (1/21): hotel meeting space expansions; list of meeting space in the county; hotels with small meeting space
San Fernando Valley Business Journal (1/21): Glendale hotel corridor under consideration
San Diego Business Journal (1/21): Chargers stadium saga continues
San Diego Business Journal (2/4): Hilton Bayfront development progress
San Fernando Business Journal (2/4): Valley commercial real estate special report including multi-family housing, office/industrial space, and lifestyle retail
Kiplinger CA Letter (1/30): San Diego -- Viejas Casino, hotels planned for Lane Field
Friday, February 8, 2008
Plans for the Moulin Rouge
from today's Hotel enewsbrief (2/7):
MarketWatch
February 7, 2008 Thursday 5:21 PM EST
A new Moulin Rouge: Rebirth of Vegas landmark in the cards?
William Spain is a MarketWatch staff writer in Chicago.
"WASHINGTON (MarketWatch) -- A group of African-American investors has teamed up with a firm that specializes in urban redevelopment to place a big bet that together they can resurrect a fabled piece of Las Vegas history: the Moulin Rouge." ...
for the complete story
MarketWatch
February 7, 2008 Thursday 5:21 PM EST
A new Moulin Rouge: Rebirth of Vegas landmark in the cards?
William Spain is a MarketWatch staff writer in Chicago.
"WASHINGTON (MarketWatch) -- A group of African-American investors has teamed up with a firm that specializes in urban redevelopment to place a big bet that together they can resurrect a fabled piece of Las Vegas history: the Moulin Rouge." ...
for the complete story
Cambodia to get coastal casino
from today's Hotels enewsbrief
February 7, 2008 Thursday
QLI sees opportunity in Cambodia;
The company plans a seafront resort centered on a casino.
Globes' correspondent
"Casino builder and operator Queenco Leisure International Ltd. (QLI) (AIM:QLI) has bought a 22.5-acre lot for $10 million in the Cambodian coastal resort of Sihanoukville for the development of a beachfront casino.
QLI has already bought a 120-acre lot in Sihanoukville, which the Cambodian is developing, including the expansion of local airport to handle international flights." ...
for the complete story
February 7, 2008 Thursday
QLI sees opportunity in Cambodia;
The company plans a seafront resort centered on a casino.
Globes' correspondent
"Casino builder and operator Queenco Leisure International Ltd. (QLI) (AIM:QLI) has bought a 22.5-acre lot for $10 million in the Cambodian coastal resort of Sihanoukville for the development of a beachfront casino.
QLI has already bought a 120-acre lot in Sihanoukville, which the Cambodian is developing, including the expansion of local airport to handle international flights." ...
for the complete story
CoStar v LoopNet
from today's GlobeSt (2/8):
Last updated: February 8, 2008 02:26pm
CoStar Challenges LoopNet’s Statistics
By Erika Morphy
"BETHESDA, MD-CoStar is questioning its main competitor’s way of calculating how many current users it has. The company filed a suit in the US District Court in the Southern District of New York. The case is called CoStar Group Inc. v. LoopNet Inc.
Specifically, the suit is challenging the number of “registered members” LoopNet reports it has to its customers and investors. As of Nov. 2007, LoopNet claimed to have 2.5 million registered members, CoStar notes. CoStar’s position is that LoopNet is implying that it has 2.5 million current users, when the active number of users is much lower. The 2.5 million statistic, in other words, is a cumulative total of everyone who has ever registered at the site during the past 12 or so years the firm has been in existence, according to CoStar's complaint." .....
for the complete story
Last updated: February 8, 2008 02:26pm
CoStar Challenges LoopNet’s Statistics
By Erika Morphy
"BETHESDA, MD-CoStar is questioning its main competitor’s way of calculating how many current users it has. The company filed a suit in the US District Court in the Southern District of New York. The case is called CoStar Group Inc. v. LoopNet Inc.
Specifically, the suit is challenging the number of “registered members” LoopNet reports it has to its customers and investors. As of Nov. 2007, LoopNet claimed to have 2.5 million registered members, CoStar notes. CoStar’s position is that LoopNet is implying that it has 2.5 million current users, when the active number of users is much lower. The 2.5 million statistic, in other words, is a cumulative total of everyone who has ever registered at the site during the past 12 or so years the firm has been in existence, according to CoStar's complaint." .....
for the complete story
DreamWorks Dubai
from today's GlobeSt
Last updated: February 7, 2008 02:47pm
DreamWorks Theme Park To Premiere in Dubai
By Michelle Deakin
"DUBAI, UNITED ARAB EMIRATES-DreamWorks Animation and Dubai developer Tatweer have formed a strategic alliance to develop the studio’s first theme park at Dubailand, a three-billion-sf entertainment and leisure complex under development on the Eastern Arabian Peninsula. The exact price of the five-million-sf theme park has not been disclosed, however, it has been described as a multi-billion United Arab Emirates Dirhams investment within a park projected to be twice the size of Florida’s Walt Disney World.
In addition to bringing DreamWorks characters, such as Shrek and the upcoming Kung Fu Panda, to life, the park will include DreamWorks-themed restaurants, hotels and retail stores." ...
for the complete story
Last updated: February 7, 2008 02:47pm
DreamWorks Theme Park To Premiere in Dubai
By Michelle Deakin
"DUBAI, UNITED ARAB EMIRATES-DreamWorks Animation and Dubai developer Tatweer have formed a strategic alliance to develop the studio’s first theme park at Dubailand, a three-billion-sf entertainment and leisure complex under development on the Eastern Arabian Peninsula. The exact price of the five-million-sf theme park has not been disclosed, however, it has been described as a multi-billion United Arab Emirates Dirhams investment within a park projected to be twice the size of Florida’s Walt Disney World.
In addition to bringing DreamWorks characters, such as Shrek and the upcoming Kung Fu Panda, to life, the park will include DreamWorks-themed restaurants, hotels and retail stores." ...
for the complete story
Wednesday, February 6, 2008
Disney bright spot
from today's Los Angeles Business Journal newsbriefs (1/6/2008):
Disney Beats Estimates on Q1 Earnings
By ALLEN P. ROBERTS Jr. - 2/5/2008
Los Angeles Business Journal Staff
"Shares in Walt Disney Co. rebounded Tuesday after the entertainment giant reported lower first-quarter profit due to gains from sales of media properties last year, but still beat analysts' expectations.
Disney reported first quarter net income of $1.25 billion (63 cents per share), a 26 percent dip from $1.7 billion (79 cents) from the same period a year earlier. The company said the dip in profit was due to the sale of its interest in US Weekly magazine and the E! Entertainment channel last year." ...
for the complete story
Disney Beats Estimates on Q1 Earnings
By ALLEN P. ROBERTS Jr. - 2/5/2008
Los Angeles Business Journal Staff
"Shares in Walt Disney Co. rebounded Tuesday after the entertainment giant reported lower first-quarter profit due to gains from sales of media properties last year, but still beat analysts' expectations.
Disney reported first quarter net income of $1.25 billion (63 cents per share), a 26 percent dip from $1.7 billion (79 cents) from the same period a year earlier. The company said the dip in profit was due to the sale of its interest in US Weekly magazine and the E! Entertainment channel last year." ...
for the complete story
Golf -- maybe it isn't dead
from Callaway Golf Press Releases 1/31/2008
Callaway Golf Announces Record Sales and More Than a 100% Increase in Earnings for 2007
"CARLSBAD, Calif.--(BUSINESS WIRE)--Jan. 31, 2008--Callaway Golf Company (NYSE:ELY) today announced its financial results for the fourth quarter and full year ended December 31, 2007. Highlights for the full year of 2007 included:
Net sales increased 10% to a record $1.125 billion, compared to $1.018 billion for the same period in 2006.
Fully diluted earnings per share of $0.81 on 67.5 million shares, an increase of 138% compared to fully diluted earnings per share of $0.34 on 68.5 million shares in 2006. " .....
"Gross profit for 2007 was $493.2 million or 44% of net sales compared to $398.1 million or 39% of net sales a year ago." ...
"Net sales were $174.4 million, a 3% decrease compared to $179.9 million for the same period in 2006, which included significantly more sales from new product launches.
Loss per share of $0.25 on 63.8 million shares, compared to a loss per share of $0.15 on 67.0 million shares in the fourth quarter of 2006." ...
for the complete story
Callaway Golf Announces Record Sales and More Than a 100% Increase in Earnings for 2007
"CARLSBAD, Calif.--(BUSINESS WIRE)--Jan. 31, 2008--Callaway Golf Company (NYSE:ELY) today announced its financial results for the fourth quarter and full year ended December 31, 2007. Highlights for the full year of 2007 included:
Net sales increased 10% to a record $1.125 billion, compared to $1.018 billion for the same period in 2006.
Fully diluted earnings per share of $0.81 on 67.5 million shares, an increase of 138% compared to fully diluted earnings per share of $0.34 on 68.5 million shares in 2006. " .....
"Gross profit for 2007 was $493.2 million or 44% of net sales compared to $398.1 million or 39% of net sales a year ago." ...
"Net sales were $174.4 million, a 3% decrease compared to $179.9 million for the same period in 2006, which included significantly more sales from new product launches.
Loss per share of $0.25 on 63.8 million shares, compared to a loss per share of $0.15 on 67.0 million shares in the fourth quarter of 2006." ...
for the complete story
Middle East RevPAR growth continues apace
from today's Hotel newsbrief (2/6/2008):
Mideast Lodges 4th Year Of Double-Digit RevPAR Growth
Deloitte
February 6, 2008
"The Middle East hotel industry is still one of the fastest growing regions in the world according to year-end 2007 results from the HotelBenchmark™ Survey by Deloitte. Out performed only by Central and South America, the Middle East saw revenue per available room (revPAR) grow 17.0% exceeding both Asia Pacific and Europe.
The region also enjoyed its fourth year of double-digit growth. Average room rates were the main driver up 11.4% to US$151 while occupancy increased 5.0% to 71.6%.
Across the Middle East there were stark contrasts in performance but Jordan, Oman and Egypt were the true success stories. Jordan, after experiencing a slight fall in revPAR in 2006, saw a change in fortunes in 2007. RevPAR was up 19.0% in Amman following a stable recovery from the 2005 terrorist attacks. Success was not just limited to Amman, as the ancient stone-carved city of Petra was declared one of the ‘New 7 Wonders of the World’. According to the Jordan Tourism Board, tourist arrivals to Petra increased by 43% during the first 11 months of 2007 to just over half a million. The government is focusing on niche markets including the meetings, incentive, conventions and exhibitions market, as well as adventure tourism and religious travel." ...
for the complete story
Mideast Lodges 4th Year Of Double-Digit RevPAR Growth
Deloitte
February 6, 2008
"The Middle East hotel industry is still one of the fastest growing regions in the world according to year-end 2007 results from the HotelBenchmark™ Survey by Deloitte. Out performed only by Central and South America, the Middle East saw revenue per available room (revPAR) grow 17.0% exceeding both Asia Pacific and Europe.
The region also enjoyed its fourth year of double-digit growth. Average room rates were the main driver up 11.4% to US$151 while occupancy increased 5.0% to 71.6%.
Across the Middle East there were stark contrasts in performance but Jordan, Oman and Egypt were the true success stories. Jordan, after experiencing a slight fall in revPAR in 2006, saw a change in fortunes in 2007. RevPAR was up 19.0% in Amman following a stable recovery from the 2005 terrorist attacks. Success was not just limited to Amman, as the ancient stone-carved city of Petra was declared one of the ‘New 7 Wonders of the World’. According to the Jordan Tourism Board, tourist arrivals to Petra increased by 43% during the first 11 months of 2007 to just over half a million. The government is focusing on niche markets including the meetings, incentive, conventions and exhibitions market, as well as adventure tourism and religious travel." ...
for the complete story
Monday, February 4, 2008
NYC Atlantic Yards decision
from today's GlobeSt (2/4):
Last updated: February 1, 2008 03:58pm
Eminent Domain Decision Favors Atlantic Yards
By Natalie Dolce
"BROOKLYN, NY-Forest City Ratner Cos.' Atlantic Project got the green light on Friday when the US Court of Appeals rejected a lawsuit that challenged the constitutionality of the state's use of eminent domain for the site. The lawsuit was filed by 14 property owners, business owners and tenants facing eviction. ...
St.com reported.
Bruce Ratner, CEO and chairman of Forest City, says in a prepared statement that "today's decision is more than another victory for Atlantic Yards; it is a victory for public good and the importance of investing in diverse communities throughout the City. Atlantic Yards will bring thousands of affordable homes and needed jobs to Brooklyn. We believe, and the courts have repeatedly agreed, that these are real benefits that will have a significantly positive impact on the borough and the City." ...
for the complete story
Last updated: February 1, 2008 03:58pm
Eminent Domain Decision Favors Atlantic Yards
By Natalie Dolce
"BROOKLYN, NY-Forest City Ratner Cos.' Atlantic Project got the green light on Friday when the US Court of Appeals rejected a lawsuit that challenged the constitutionality of the state's use of eminent domain for the site. The lawsuit was filed by 14 property owners, business owners and tenants facing eviction. ...
St.com reported.
Bruce Ratner, CEO and chairman of Forest City, says in a prepared statement that "today's decision is more than another victory for Atlantic Yards; it is a victory for public good and the importance of investing in diverse communities throughout the City. Atlantic Yards will bring thousands of affordable homes and needed jobs to Brooklyn. We believe, and the courts have repeatedly agreed, that these are real benefits that will have a significantly positive impact on the borough and the City." ...
for the complete story
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