from yesterday's Fresno Bee (5/12):
Senate passes casino limits
Measure bars Indian gaming compacts without land deals.
By E.J. Schultz / Bee Capitol Bureau
05/12/08 22:38:08
"SACRAMENTO -- In a sign that lawmakers aren't pleased with the recent Highway 99 casino deal, the state Senate on Monday passed a bill that would prohibit the governor from negotiating gambling compacts with Indian tribes until they have qualified gaming land.
Senate Bill 1695 by Sen. Dean Florez, D-Shafter, passed on a 31-4 vote with bipartisan support." ...
"The tribe still needs federal approval to put a casino on land along Highway 99 just north of Madera. That didn't stop the governor from announcing a compact two weeks ago that would allow for 2,500 slot machines at the targeted site -- which is about 35 miles from the tribe's traditional homeland.
Because the deal already is signed, the Florez bill would not affect the casino. But state lawmakers still must approve the compact, and Monday's vote suggests the tribe might face an uphill fight." ...
for the complete story
Tuesday, May 13, 2008
OC funding transit analyses
from this morning's L.A. Times (5/13):
O.C. agency approves $12 million to study transit ideas
A monorail in Anaheim and trolley system in Santa Ana are being considered to lighten traffic load.
By David Reyes
May 13, 2008
"In Anaheim, planners are mulling a monorail to move passengers from the city's train station to its resort district.
In Santa Ana, the idea is a bit more old school -- trolleys.
In an effort to get such wide-ranging projects off the ground, Orange County transportation leaders Monday approved spending $12 million to complete environmental studies for inner-city public transportation projects.
As part of Anaheim's plan to transform the area near Angel Stadium into a vibrant residential and retail community, the city wanted an inviting, if not entertaining, way of moving people from the train station to their destination, said Mayor Curt Pringle." ....
for the complete story
O.C. agency approves $12 million to study transit ideas
A monorail in Anaheim and trolley system in Santa Ana are being considered to lighten traffic load.
By David Reyes
May 13, 2008
"In Anaheim, planners are mulling a monorail to move passengers from the city's train station to its resort district.
In Santa Ana, the idea is a bit more old school -- trolleys.
In an effort to get such wide-ranging projects off the ground, Orange County transportation leaders Monday approved spending $12 million to complete environmental studies for inner-city public transportation projects.
As part of Anaheim's plan to transform the area near Angel Stadium into a vibrant residential and retail community, the city wanted an inviting, if not entertaining, way of moving people from the train station to their destination, said Mayor Curt Pringle." ....
for the complete story
Oakland mixed-use TOD gets LEED certificate
from yesterday's California Real Estate Journal InSites newsletter (5/12):
Oakland Project Is First to Receive LEED Silver Certification
"OAKLAND - A joint mixed-use project by a Forest City Residential Group Inc. subsidiary, MacFarlane Partners and the City of Oakland was the first multifamily development to receive the Leadership in Energy and Environmental Design Silver certification from the U.S. Green Building Council." ...
for the complete snippet
to review the project's homepage
Oakland Project Is First to Receive LEED Silver Certification
"OAKLAND - A joint mixed-use project by a Forest City Residential Group Inc. subsidiary, MacFarlane Partners and the City of Oakland was the first multifamily development to receive the Leadership in Energy and Environmental Design Silver certification from the U.S. Green Building Council." ...
for the complete snippet
to review the project's homepage
Monday, May 12, 2008
Irving, TX CVB planning LEED certified hotel and convention center complex
from this morning's GlobeSt (5/12):
Last updated: May 12, 2008 09:29am
Irving Eyes Summer Start for $125M CVB Center
By Connie Gore
"IRVING, TX-The Irving Convention & Visitors Bureau, armed with a totally revamped plan, expects work to start in late summer on a $125-million project. The 250,000-sf final design will be unveiled to council in late June or early July, with work slated to get underway shortly thereafter.
The convention center project, in one form or another, has been on the city's "to do" list since 1999. A fall 2010 opening is now within reach. The revised plan for the city's 40-acre tract will plant a 250,000-sf convention center on the north side as phase one and a $50-million-plus concert venue with 3,500 seats and additional parking on the south side as phase two. The tract's interior is expected to hold roughly 150,000 sf of retail and two hotels. The development site is bounded by Texas 114 on the west, Northwest Highway on the north, Las Colinas Boulevard on the east and Fuller Drive on the south."
for the complete story
Last updated: May 12, 2008 09:29am
Irving Eyes Summer Start for $125M CVB Center
By Connie Gore
"IRVING, TX-The Irving Convention & Visitors Bureau, armed with a totally revamped plan, expects work to start in late summer on a $125-million project. The 250,000-sf final design will be unveiled to council in late June or early July, with work slated to get underway shortly thereafter.
The convention center project, in one form or another, has been on the city's "to do" list since 1999. A fall 2010 opening is now within reach. The revised plan for the city's 40-acre tract will plant a 250,000-sf convention center on the north side as phase one and a $50-million-plus concert venue with 3,500 seats and additional parking on the south side as phase two. The tract's interior is expected to hold roughly 150,000 sf of retail and two hotels. The development site is bounded by Texas 114 on the west, Northwest Highway on the north, Las Colinas Boulevard on the east and Fuller Drive on the south."
for the complete story
Chicago's Magnificent Mile retail suffering
from today's Crain's Chicago Business (5/12):
Big-box gap on Mag Mile
By Eddie Baeb
May 12, 2008
"There are more vacant storefronts around the Magnificent Mile than at any time in the past 16 years, a sign that even Chicago's premier shopping strip isn't immune to the forces buffeting the broader retail industry.
And things are likely to get worse before they get better, as retailers vacate big-box-style storefronts in the area this year while few such merchants seek new space." ...
for the complete story
Big-box gap on Mag Mile
By Eddie Baeb
May 12, 2008
"There are more vacant storefronts around the Magnificent Mile than at any time in the past 16 years, a sign that even Chicago's premier shopping strip isn't immune to the forces buffeting the broader retail industry.
And things are likely to get worse before they get better, as retailers vacate big-box-style storefronts in the area this year while few such merchants seek new space." ...
for the complete story
China and mid-range hotels
from this morning's Business Week Asia Insider (5/12):
Will China Welcome a Mid-Range Hotel?
Hotel Jen marries high design with smart business strategy as it targets an overlooked—and growing—sector of the hotel market
by Matt Vella
"The Chinese hotel boom continues. This March yet another new property opened its doors in Hong Kong's bustling Western District. But Hotel Jen, as the newcomer is called, is unlike any of the myriad other brands that have sprouted in China's fast-growing hospitality market.
Hotel Jen is a study in sleek, ultramodernist design: Light, airy rooms are equipped with high-speed WiFi. In the lobby, wall-mounted flat-panel TVs pulse with rapid-fire images. A rooftop pool overlooks the city's harbor. Despite the glitz, this is not one of the thousands of new high-end luxury hotels. Nor, clearly, is it a budget offering, an equally competitive sector of the market. Rather, Hotel Jen is an experiment—the first, most likely if it's successful, in a line of mid-range hotels aimed at the burgeoning population of Chinese business travelers. It's also a signal that design, as a tool of brand creation, is trickling down from China's luxury sector.
Hotel Jen is born into a rapidly changing environment. China's economic liberalization has fueled a countrywide building boom that has littered the nation's skylines with most of the world's cranes. The World Bank estimates that by 2015, half of new-building construction around the globe will take place in China. And upcoming events such as this summer's Olympic Games and 2010's World's Fair and Asian Games are further sparking growth—and a $10 billion business travel market.
Affordable but Attractive Accommodations
Until now, though, the hotel market has boomed at the extremes: high-end four- and five-star luxury properties and low-cost, homegrown budget accommodations." ...
"Success Uncertain
Rather than construct a new property, The Kerry Group spent about $12 million to redesign an existing hotel in partnership with MetaDesign, which commissioned architects and other manufacturers to create everything inside from the cafeteria's silverware to the furniture in each of the 280 rooms.
The result is in marked contrast to the small, dingy rooms at many of the country's budget chains. Each room comes with a bevy of extras, including wireless and broadband and liquid-crystal display TVs. In the smaller ones, designers located the bathroom sinks and closets between the front doors and bedrooms, creating a more cloistered, private sleeping environment. Designers also laid out certain rooms so they could be used as daytime offices for business travelers. Rates range from $100 to $180 for the high-end suites, compared with about $50 to $100 for bare-bones budget accommodations elsewhere." ...
for the complete story
Will China Welcome a Mid-Range Hotel?
Hotel Jen marries high design with smart business strategy as it targets an overlooked—and growing—sector of the hotel market
by Matt Vella
"The Chinese hotel boom continues. This March yet another new property opened its doors in Hong Kong's bustling Western District. But Hotel Jen, as the newcomer is called, is unlike any of the myriad other brands that have sprouted in China's fast-growing hospitality market.
Hotel Jen is a study in sleek, ultramodernist design: Light, airy rooms are equipped with high-speed WiFi. In the lobby, wall-mounted flat-panel TVs pulse with rapid-fire images. A rooftop pool overlooks the city's harbor. Despite the glitz, this is not one of the thousands of new high-end luxury hotels. Nor, clearly, is it a budget offering, an equally competitive sector of the market. Rather, Hotel Jen is an experiment—the first, most likely if it's successful, in a line of mid-range hotels aimed at the burgeoning population of Chinese business travelers. It's also a signal that design, as a tool of brand creation, is trickling down from China's luxury sector.
Hotel Jen is born into a rapidly changing environment. China's economic liberalization has fueled a countrywide building boom that has littered the nation's skylines with most of the world's cranes. The World Bank estimates that by 2015, half of new-building construction around the globe will take place in China. And upcoming events such as this summer's Olympic Games and 2010's World's Fair and Asian Games are further sparking growth—and a $10 billion business travel market.
Affordable but Attractive Accommodations
Until now, though, the hotel market has boomed at the extremes: high-end four- and five-star luxury properties and low-cost, homegrown budget accommodations." ...
"Success Uncertain
Rather than construct a new property, The Kerry Group spent about $12 million to redesign an existing hotel in partnership with MetaDesign, which commissioned architects and other manufacturers to create everything inside from the cafeteria's silverware to the furniture in each of the 280 rooms.
The result is in marked contrast to the small, dingy rooms at many of the country's budget chains. Each room comes with a bevy of extras, including wireless and broadband and liquid-crystal display TVs. In the smaller ones, designers located the bathroom sinks and closets between the front doors and bedrooms, creating a more cloistered, private sleeping environment. Designers also laid out certain rooms so they could be used as daytime offices for business travelers. Rates range from $100 to $180 for the high-end suites, compared with about $50 to $100 for bare-bones budget accommodations elsewhere." ...
for the complete story
San Diego Navy Yard Project wins court approval
from this morning's San Diego Business Journal (5/12):
Federal Judge Rules in Favor of Downtown Waterfront Project
By NED RANDOLPH - 5/12/2008
"A ruling in favor of developer Douglas Manchester’s effort to build a mixed-use waterfront park on downtown Navy land has dealt a blow to the California Coastal Commission’s authority to regulate this project and other private developments built on federal property, according to Manchester’s attorney.
A federal judge ruled April 30 that the Coastal Commission can’t require Manchester to seek a coastal development permit for the 15-acre Navy Broadway Complex, which is adjacent to Seaport Village." ...
"The $1.2 billion Navy Broadway Complex project is part of the North Embarcadero Visionary Plan. The master plan calls for 3 million square feet of office, hotel and museum space, including a 17-story Navy headquarters.
The Manchester Group was awarded the 99-year lease by the Navy in 2006 to develop the project, which has languished since it was first approved by regulators, including the Coastal Commission, in 1991." ...
for the complete story
Federal Judge Rules in Favor of Downtown Waterfront Project
By NED RANDOLPH - 5/12/2008
"A ruling in favor of developer Douglas Manchester’s effort to build a mixed-use waterfront park on downtown Navy land has dealt a blow to the California Coastal Commission’s authority to regulate this project and other private developments built on federal property, according to Manchester’s attorney.
A federal judge ruled April 30 that the Coastal Commission can’t require Manchester to seek a coastal development permit for the 15-acre Navy Broadway Complex, which is adjacent to Seaport Village." ...
"The $1.2 billion Navy Broadway Complex project is part of the North Embarcadero Visionary Plan. The master plan calls for 3 million square feet of office, hotel and museum space, including a 17-story Navy headquarters.
The Manchester Group was awarded the 99-year lease by the Navy in 2006 to develop the project, which has languished since it was first approved by regulators, including the Coastal Commission, in 1991." ...
for the complete story
Sunday, May 11, 2008
retail and restaurant news
Shopping Centers Today (Apr): retailers and real estate; store closings and malls; retail and green development
Value Retail News (Apr): state of the industry report part 1; planned projects list
IOJ (Intl Outlet Journal) (Spring): economic downturn; Turkey and outlet shopping
Nation's Restaurant News (4/14): independent operators continue with growth plans
Retail Traffic (Mar): debt and shopping center REITs; mixed use development features; regional feature: NC, S, Mid-Atlantic
Shopping Center Business (Mar): regional focus on Mid-Atlantic
Value Retail News (Apr): state of the industry report part 1; planned projects list
IOJ (Intl Outlet Journal) (Spring): economic downturn; Turkey and outlet shopping
Nation's Restaurant News (4/14): independent operators continue with growth plans
Retail Traffic (Mar): debt and shopping center REITs; mixed use development features; regional feature: NC, S, Mid-Atlantic
Shopping Center Business (Mar): regional focus on Mid-Atlantic
attractions news
Museum (May-June): debut briefs of several museums including the Gettysburg National Military Park; feature on the Negro Leagues Baseball Museum
Funworld (Apr): KSC "Shuttle Launch Experience debuting; Sea World, Queensland gets world's tallest observation wheel; Disney World opens Cinderella's Castle Suite; India plans indoor theme park/FEC; adult sleepovers available at the Akron Zoo; 6 Flags sells 7 parks; feature on Landry's Restaurants
World Waterpark (Mar): Canad Inns Destination Center (Grand Forks, ND); Waterworld San Francisco, CA); Water Waves Land, Iran; Splash Cove, Shawnee, KS
Funworld (Apr): KSC "Shuttle Launch Experience debuting; Sea World, Queensland gets world's tallest observation wheel; Disney World opens Cinderella's Castle Suite; India plans indoor theme park/FEC; adult sleepovers available at the Akron Zoo; 6 Flags sells 7 parks; feature on Landry's Restaurants
World Waterpark (Mar): Canad Inns Destination Center (Grand Forks, ND); Waterworld San Francisco, CA); Water Waves Land, Iran; Splash Cove, Shawnee, KS
real estate news
Valuation (1st quarter): hotel transactions down;
Western City (Apr): feature on Lompoc Aquatic Center
Urban Land (Apr): Dubai continued development; Toronto green dvt; smart growth; museums and the city feature/list; North TX regional review; Dallas Fort Worth development; north TX downtown planning developments; Dallas/Fort Worth arts district; L.A. Nokia Theatre feature; Moscow's art spaces; Glory Park development in Arlington, TX; FL real estate forecast; edgeless cities; Santa Cruz, CA family housing; Columbia University's expansion plans; storm-resistant development in the Caribbean; shared parking; regional spotlight feature on TX
Urban Land Multifamily News (Mar-Apr): NC green development; green building stats; green design features; LEED certification worthwhile?; affordable housing; feature section on TX multifamily market
CP&DR (Apr): Diamond Bar may seek annexation; South Bay stadium deal
New Urban News (Apr-May): fortified FL development plans; San Antonio planning new downtown district; Santa Fe TND
Real Estate Forum (Apr): Abu Dhabi sustainable progress progresses
CP&DR (Mar): Monrovia transit development
National Real Estate Investor (Mar): Santa Monica mixed use gets go ahead; Chicago to get new convention hotel?; TIC supplement; city review of Albuquerque; hotel remodeling
New Urban News (Mar): malls converting to mixed-use; Lancaster County, PA TND setback; NOLA debuts double cottage model; Austin, TX airport redevelopment (to housing)
Urban Land Green (spring): U.S. Mayors summit; 10 greener cities; redeveloping existing buildings; sustainable development in China; density development; green real estate financing; regional spotlight on NC, SC, and GA
Urban Land (Mar): sustainable transportation; mass transit infrastructure; infrastructure as an investment; European transportation; TOD; civic centers; university expansions and developments; transit center design; mixed-use development; regional spotlight: HI, Australia, AK
Western City (Apr): feature on Lompoc Aquatic Center
Urban Land (Apr): Dubai continued development; Toronto green dvt; smart growth; museums and the city feature/list; North TX regional review; Dallas Fort Worth development; north TX downtown planning developments; Dallas/Fort Worth arts district; L.A. Nokia Theatre feature; Moscow's art spaces; Glory Park development in Arlington, TX; FL real estate forecast; edgeless cities; Santa Cruz, CA family housing; Columbia University's expansion plans; storm-resistant development in the Caribbean; shared parking; regional spotlight feature on TX
Urban Land Multifamily News (Mar-Apr): NC green development; green building stats; green design features; LEED certification worthwhile?; affordable housing; feature section on TX multifamily market
CP&DR (Apr): Diamond Bar may seek annexation; South Bay stadium deal
New Urban News (Apr-May): fortified FL development plans; San Antonio planning new downtown district; Santa Fe TND
Real Estate Forum (Apr): Abu Dhabi sustainable progress progresses
CP&DR (Mar): Monrovia transit development
National Real Estate Investor (Mar): Santa Monica mixed use gets go ahead; Chicago to get new convention hotel?; TIC supplement; city review of Albuquerque; hotel remodeling
New Urban News (Mar): malls converting to mixed-use; Lancaster County, PA TND setback; NOLA debuts double cottage model; Austin, TX airport redevelopment (to housing)
Urban Land Green (spring): U.S. Mayors summit; 10 greener cities; redeveloping existing buildings; sustainable development in China; density development; green real estate financing; regional spotlight on NC, SC, and GA
Urban Land (Mar): sustainable transportation; mass transit infrastructure; infrastructure as an investment; European transportation; TOD; civic centers; university expansions and developments; transit center design; mixed-use development; regional spotlight: HI, Australia, AK
general business publications
Business Week (5/4): intl travel numbers rising (brief); Mideast boom
Economist (4/5): Navajo Nation business development; Ho-Chunk, Inc. Indian business success
Business Week (3/31): Cape Cod baseball league
Business Week (4/7): Irish economy finally slowing; sports events in the Middle East
Economist (4/5): Navajo Nation business development; Ho-Chunk, Inc. Indian business success
Business Week (3/31): Cape Cod baseball league
Business Week (4/7): Irish economy finally slowing; sports events in the Middle East
Hotels, casinos/gaming, spas, convention/conference facilities news
Native American Casino (4/08): profile of Grey Eagle Casino and Bingo (Calgary, Alberta, Canada); North American casino directory
Hotels (Apr): Africa market feature; Four Seasons hotels expanding to cruise ships; Hilton-Waldorf Astoria opens first ski property in Park City, UT; Asian-Indian hotel market special report; Hard Rock San Diego; green hotels
Venues Today (4/08): FL fair feature; FL market spotlight; Miami performing arts center; top venues lists; MLB stadium concessions
Pulse (Intl Spa Assn journal): (Mar-Apr): profile of the Del Coronado
Tradeshow Week (4/14): hotel meeting space; convention hotels
IGWB (Apr): Thailand's gaming market; Crown investing in Harrah's, Station casinos; Macau gaming increasing; CA tribal casinos get slot expansion approval; Cosmopolitan Resort and Casino continues construction on the Las Vegas Strip having been saved from foreclosure; Dominican casino market
American Indian Report (3/08): green building initiative
Tradeshow Week (3/31): international meetings/facilities; Mid-Atlantic meetings/facilities
Tradeshow Week (3/24): feature on CVBs and convention centers
Tradeshow Week (3/17): Reno-Sparks Convention Center expansion
Hotels (Apr): Africa market feature; Four Seasons hotels expanding to cruise ships; Hilton-Waldorf Astoria opens first ski property in Park City, UT; Asian-Indian hotel market special report; Hard Rock San Diego; green hotels
Venues Today (4/08): FL fair feature; FL market spotlight; Miami performing arts center; top venues lists; MLB stadium concessions
Pulse (Intl Spa Assn journal): (Mar-Apr): profile of the Del Coronado
Tradeshow Week (4/14): hotel meeting space; convention hotels
IGWB (Apr): Thailand's gaming market; Crown investing in Harrah's, Station casinos; Macau gaming increasing; CA tribal casinos get slot expansion approval; Cosmopolitan Resort and Casino continues construction on the Las Vegas Strip having been saved from foreclosure; Dominican casino market
American Indian Report (3/08): green building initiative
Tradeshow Week (3/31): international meetings/facilities; Mid-Atlantic meetings/facilities
Tradeshow Week (3/24): feature on CVBs and convention centers
Tradeshow Week (3/17): Reno-Sparks Convention Center expansion
local and regional real estate/business news
Indian Country Today (4/23): tribal golf resorts feature section
Crain's Chicago Business (4/14): special supplement on golf
California Real Estate Journal (4/28): San Diego Intl Airport expanding; L.A.'s NFL plans for the City of Industry; general plans afoot across state
San Diego Business Journal (4/28): Tribal casinos doing well
Los Angeles Business Journal (4/28): branding/signage for L.A. attractions like the Zoo?; Los Angeles Port seal deal with Disney Cruises; condos going rental rather than purchase
California Real Estate Journal (4/21): Tustin's Legacy Park plans
San Fernando Valley Business Journal (4/28): biotech feature series
Los Angeles Business Journal (4/21): real estate quarterly issue; feature on San Pedro; Santa Monica Place redone; NFL coming to City of Industry?; hotels list
California Real Estate Journal (4/7): downtown San Diego retail
San Fernando Valley Business Journal (4/14): Tejon's foreign trade zone status; tourism up in the Valley; MLS promo clinics throughout the Valley; MLB's minor League JetHawks profiled; list of largest hotels
New Orleans City Business (4/14): tourism dept hoping to lure European visitors in economic downturn
Orange County Business Journal (3/31): Angels season ticket sales up; Simon Property Group's plans for the Orange Mall
California Real Estate Journal (4/14): PM Realty pushing diversified land use in Southern CA's downtowns; Tesco slowing US rollout
Indian Country Today (4/16): Indian green energy company plans; U of MA report shows New England still has a $2b untapped gaming market; Arapaho to open new casino in WY; Navajos ready to build first casino
Los Angeles Business Journal (4/14): student housing recession-proof?
Los Angeles Business Journal (4/7): Westwood Village redevelopment plans; hotels redeveloping for luxury rather than building fresh
Crain's Chicago Business Journal (3/24): South Loop site goes to condo builder; WalMart expansion plans thwarted; Loop hotel plan stuck for funding; city's hotel industry finished 2007 well
Indian Country Today (4/9); Kiowa buy Indian City USA attraction
Crain's Chicago Business (3/31): Chicago hotels bracing for slump
New Orleans City Business (3/24): Superdome improvements
Crain's Chicago Business (4/7): downtown office demand down
San Fernando Valley Business Journal (3/31): retail property values steady
San Diego Business Journal (3/31): Gaylord hotel and convention center back on; list of top hotels; SD convention center contemplating expansion; list of meeting and convention facilities
Crain's Chicago Business (4/14): special supplement on golf
California Real Estate Journal (4/28): San Diego Intl Airport expanding; L.A.'s NFL plans for the City of Industry; general plans afoot across state
San Diego Business Journal (4/28): Tribal casinos doing well
Los Angeles Business Journal (4/28): branding/signage for L.A. attractions like the Zoo?; Los Angeles Port seal deal with Disney Cruises; condos going rental rather than purchase
California Real Estate Journal (4/21): Tustin's Legacy Park plans
San Fernando Valley Business Journal (4/28): biotech feature series
Los Angeles Business Journal (4/21): real estate quarterly issue; feature on San Pedro; Santa Monica Place redone; NFL coming to City of Industry?; hotels list
California Real Estate Journal (4/7): downtown San Diego retail
San Fernando Valley Business Journal (4/14): Tejon's foreign trade zone status; tourism up in the Valley; MLS promo clinics throughout the Valley; MLB's minor League JetHawks profiled; list of largest hotels
New Orleans City Business (4/14): tourism dept hoping to lure European visitors in economic downturn
Orange County Business Journal (3/31): Angels season ticket sales up; Simon Property Group's plans for the Orange Mall
California Real Estate Journal (4/14): PM Realty pushing diversified land use in Southern CA's downtowns; Tesco slowing US rollout
Indian Country Today (4/16): Indian green energy company plans; U of MA report shows New England still has a $2b untapped gaming market; Arapaho to open new casino in WY; Navajos ready to build first casino
Los Angeles Business Journal (4/14): student housing recession-proof?
Los Angeles Business Journal (4/7): Westwood Village redevelopment plans; hotels redeveloping for luxury rather than building fresh
Crain's Chicago Business Journal (3/24): South Loop site goes to condo builder; WalMart expansion plans thwarted; Loop hotel plan stuck for funding; city's hotel industry finished 2007 well
Indian Country Today (4/9); Kiowa buy Indian City USA attraction
Crain's Chicago Business (3/31): Chicago hotels bracing for slump
New Orleans City Business (3/24): Superdome improvements
Crain's Chicago Business (4/7): downtown office demand down
San Fernando Valley Business Journal (3/31): retail property values steady
San Diego Business Journal (3/31): Gaylord hotel and convention center back on; list of top hotels; SD convention center contemplating expansion; list of meeting and convention facilities
Tuesday, May 6, 2008
from Tradeshow Week (5/2):
Wynn Opens Up on New CC
Heidi Genoist -- Tradeshow Week, 5/2/2008 11:35:00 AM
"Steve Wynn has been sitting on a secret for the last couple months, and it’s a big one – possibly as big as 1.8 million square feet.
The chairman and CEO of Wynn Resorts told investors and reporters in a May 1 earnings call that he was planning a new convention center for Las Vegas.
“We’re planning two new hotels of approximately 2,600 rooms a piece that will straddle 1.6 to 1.8 million thousand [sic] feet, it depends on how you count it, of exhibit space that is,” Wynn said.
He added that the convention facility would be built on the site where the golf course is now located, and that it would extend “2,000 feet to Paradise Road, from an area approximately 550 feet east of our villas, so that there will be a large lake with fountains like Bellagio that will entertain both hotels and the convention and meeting space.” " ....
for the complete story
Wynn Opens Up on New CC
Heidi Genoist -- Tradeshow Week, 5/2/2008 11:35:00 AM
"Steve Wynn has been sitting on a secret for the last couple months, and it’s a big one – possibly as big as 1.8 million square feet.
The chairman and CEO of Wynn Resorts told investors and reporters in a May 1 earnings call that he was planning a new convention center for Las Vegas.
“We’re planning two new hotels of approximately 2,600 rooms a piece that will straddle 1.6 to 1.8 million thousand [sic] feet, it depends on how you count it, of exhibit space that is,” Wynn said.
He added that the convention facility would be built on the site where the golf course is now located, and that it would extend “2,000 feet to Paradise Road, from an area approximately 550 feet east of our villas, so that there will be a large lake with fountains like Bellagio that will entertain both hotels and the convention and meeting space.” " ....
for the complete story
Monday, May 5, 2008
Midge McCauley in the news
from the Memphis Commercial Appeal (4/24):
CCDC unveils new retail strategy
Cassandra Kimberly, The Commercial Appeal, Memphis, Tenn.
"Apr. 24--The Center City Development Corp. has a new strategy that may turn Downtown into a retail mecca.
On Wednesday, the CCDC reviewed a Downtown Retail Strategy plan that called for a refined retail focus area, a more diverse range of shops and restaurants and a jumping point to implement it all." ...
"While Downtown's recent resurgence has been marked by spikes in residential development and population growth, retail has lagged. In 2007, the CCDC, a CCC-affiliated board, hired Economics Research Associates to develop a $97,000 retail development strategy for Downtown and a retail growth strategy for the Central Business Improvement District." ...
" "For a city to be healthy, the core must be healthy," said ERA principal Margaret McCauley. As we get Main Street healthier, the other sections will get healthier with it."
To do that, she said, automobile traffic must return to Main. With traffic coming both ways on the road, the added light and population would welcome shoppers.
"Cars are a great way of adding security," she said. "I took a walk down Main Street, and it was 10 minutes be-tween trolleys. The trolleys were the only light on that street. Boy, is that foreboding." " ...
to purchase a copy of the article
CCDC unveils new retail strategy
Cassandra Kimberly, The Commercial Appeal, Memphis, Tenn.
"Apr. 24--The Center City Development Corp. has a new strategy that may turn Downtown into a retail mecca.
On Wednesday, the CCDC reviewed a Downtown Retail Strategy plan that called for a refined retail focus area, a more diverse range of shops and restaurants and a jumping point to implement it all." ...
"While Downtown's recent resurgence has been marked by spikes in residential development and population growth, retail has lagged. In 2007, the CCDC, a CCC-affiliated board, hired Economics Research Associates to develop a $97,000 retail development strategy for Downtown and a retail growth strategy for the Central Business Improvement District." ...
" "For a city to be healthy, the core must be healthy," said ERA principal Margaret McCauley. As we get Main Street healthier, the other sections will get healthier with it."
To do that, she said, automobile traffic must return to Main. With traffic coming both ways on the road, the added light and population would welcome shoppers.
"Cars are a great way of adding security," she said. "I took a walk down Main Street, and it was 10 minutes be-tween trolleys. The trolleys were the only light on that street. Boy, is that foreboding." " ...
to purchase a copy of the article
PLP in the news
from the St. Louis Post-Dispatch (4/28):
THE STATE OF DOWNTOWNS Boosters meet here, foresee long-term growth Revitalization plans stall, but an eventual comeback is expected.
By Tim Logan
"The housing market's in a slump. Credit is hard to come by. The economy as a whole is looking grim.
And that was on the minds of many Sunday at the spring conference of the International Downtown Association, being held at the Renaissance Grand hotel.
As in St. Louis, central city districts all over the country have been popping with new growth in recent years, add-ing housing, residents, restaurants and stores.
Now, in many places, that growth is stalling. And that had this group of downtown boosters looking for ways to pull through.
"It is, in fact, a little difficult to find good news out there," said Patrick Phillips, president of Economic Research Associates, a Los Angeles-based real estate consulting firm." ....
to buy a copy of the complete article
THE STATE OF DOWNTOWNS Boosters meet here, foresee long-term growth Revitalization plans stall, but an eventual comeback is expected.
By Tim Logan
"The housing market's in a slump. Credit is hard to come by. The economy as a whole is looking grim.
And that was on the minds of many Sunday at the spring conference of the International Downtown Association, being held at the Renaissance Grand hotel.
As in St. Louis, central city districts all over the country have been popping with new growth in recent years, add-ing housing, residents, restaurants and stores.
Now, in many places, that growth is stalling. And that had this group of downtown boosters looking for ways to pull through.
"It is, in fact, a little difficult to find good news out there," said Patrick Phillips, president of Economic Research Associates, a Los Angeles-based real estate consulting firm." ....
to buy a copy of the complete article
Wednesday, April 30, 2008
International tourism/spending up in U.S. report announces
The Dept. of Commerce's International Trade Administration announced this morning (4/29):
For Immediate Release: April 29, 2008
WORLD TRAVELERS FLOCK TO THE UNITED STATES
International visitation up 11 percent & Spending at $11.4 billion for January 2008
"WASHINGTON–The U.S. Department of Commerce today announced that in January 2008, visitation to the United States, as well as spending by those visitors, continued to rise, marked by 3.4 million international visitors, an increase of 11 percent over January 2007.
International visitors also spent a record $11.38 billion in January, a 23 percent increase from January 2007. Spending by international travelers while in the United States, including travel receipts and passenger fares, is defined as a U.S. export. Exports are a critical driver of economic growth in the U.S. economy. In 2007, the United States exported $1.6 trillion of goods and services—nearly a 13.0 percent increase over 2006." ....
for the complete press release
for the complete vistor numbers report
for the complete visitor spending report
For Immediate Release: April 29, 2008
WORLD TRAVELERS FLOCK TO THE UNITED STATES
International visitation up 11 percent & Spending at $11.4 billion for January 2008
"WASHINGTON–The U.S. Department of Commerce today announced that in January 2008, visitation to the United States, as well as spending by those visitors, continued to rise, marked by 3.4 million international visitors, an increase of 11 percent over January 2007.
International visitors also spent a record $11.38 billion in January, a 23 percent increase from January 2007. Spending by international travelers while in the United States, including travel receipts and passenger fares, is defined as a U.S. export. Exports are a critical driver of economic growth in the U.S. economy. In 2007, the United States exported $1.6 trillion of goods and services—nearly a 13.0 percent increase over 2006." ....
for the complete press release
for the complete vistor numbers report
for the complete visitor spending report
Monday, April 28, 2008
Marina white paper
Boating Industry has released its marina/boating industry white paper (actually a series of articles on the industry from it's January issue) on best practices and trends in the industry.
Collect your own copy
Collect your own copy
Wednesday, April 23, 2008
local and regional real estate/business news
California Real Estate Journal (3/31): Grand Avenue hotel tax rebates; L.A. Dept of Parks under investigation for budget surplus
Indian Country Today (3/26): MA Class II licensing decision; OR town split on proposed tribal casino; Fort Sill Apaches try to expedite NM casino
Los Angeles Business Journal (3/24): L.A. luxury hotels expanding spa facilities; commercial real estate market problems
San Fernando Valley Business Journal (3/17): biotech corridor on the 101; space science center in Sun Valley; LACMA (Los Angeles County Museum of Art) Palm Garden opened; Calabasas Film Fest
San Diego Business Journal (3/24): Padres ticket sales slump
California Real Estate Journal (3/24): workforce apartments financially feasible?; Inland Empire industrial growth; San Diego downtown hotel in trademark suit; CA water restrictions and development (series of articles); CA green/sustainability standards stalled in committee
Crain's Chicago Business (3/10): office vacancies up slightly
Orange County Business Journal (3/24): Disney and OC hotels doing well for 1st quarter
Los Angeles Business Journal (3/17): alternative energy; L.A. port's foreign trade zone expanding
New Orleans City Business (3/10): NOLA office space overbooked
California Real Estate Journal (3/17): SCAG regional transportation plan raising concerns; redevelopment zones set to expire?; San Diego Navy Broadway complex question on environmental issues
San Diego Business Journal ( 3/17): Sea World, Legoland growing; San Diego County hotel room rates and occupancy down in 1st quarter
New Orleans City Business (March 17): LA film tax credit program; real estate market stabilizing
Indian Country Today (3/26): MA Class II licensing decision; OR town split on proposed tribal casino; Fort Sill Apaches try to expedite NM casino
Los Angeles Business Journal (3/24): L.A. luxury hotels expanding spa facilities; commercial real estate market problems
San Fernando Valley Business Journal (3/17): biotech corridor on the 101; space science center in Sun Valley; LACMA (Los Angeles County Museum of Art) Palm Garden opened; Calabasas Film Fest
San Diego Business Journal (3/24): Padres ticket sales slump
California Real Estate Journal (3/24): workforce apartments financially feasible?; Inland Empire industrial growth; San Diego downtown hotel in trademark suit; CA water restrictions and development (series of articles); CA green/sustainability standards stalled in committee
Crain's Chicago Business (3/10): office vacancies up slightly
Orange County Business Journal (3/24): Disney and OC hotels doing well for 1st quarter
Los Angeles Business Journal (3/17): alternative energy; L.A. port's foreign trade zone expanding
New Orleans City Business (3/10): NOLA office space overbooked
California Real Estate Journal (3/17): SCAG regional transportation plan raising concerns; redevelopment zones set to expire?; San Diego Navy Broadway complex question on environmental issues
San Diego Business Journal ( 3/17): Sea World, Legoland growing; San Diego County hotel room rates and occupancy down in 1st quarter
New Orleans City Business (March 17): LA film tax credit program; real estate market stabilizing
Monday, April 21, 2008
San Pedro coming out
from today's LABJ (4/21):
Special Report: The Promise of San Pedro
Special Report: Real Estate Quarterly
By HOWARD FINE - 4/21/2008
Los Angeles Business Journal Staff
"Once a bustling waterfront community full of fishermen, cannery workers and shipbuilders, downtown San Pedro has in recent decades become a symbol of urban decay." ....
"Seedy bars and tattoo parlors, mom-and-pop stores struggling in half-vacant buildings and low-income housing projects – all within yards of the waterfront and the massive Port of Los Angeles complex.
But, finally, San Pedro is showing some signs of new life.
Led by a wave of loft and condominium developments, more than 1,200 residential units have been completed or are under construction, most of these in five major projects that also contain tens of thousands of square feet of retail space. New businesses are opening up, halting a decades-long business exodus. In addition, plans for a waterfront makeover are finally getting some serious attention." ...
for the complete story
Special Report: The Promise of San Pedro
Special Report: Real Estate Quarterly
By HOWARD FINE - 4/21/2008
Los Angeles Business Journal Staff
"Once a bustling waterfront community full of fishermen, cannery workers and shipbuilders, downtown San Pedro has in recent decades become a symbol of urban decay." ....
"Seedy bars and tattoo parlors, mom-and-pop stores struggling in half-vacant buildings and low-income housing projects – all within yards of the waterfront and the massive Port of Los Angeles complex.
But, finally, San Pedro is showing some signs of new life.
Led by a wave of loft and condominium developments, more than 1,200 residential units have been completed or are under construction, most of these in five major projects that also contain tens of thousands of square feet of retail space. New businesses are opening up, halting a decades-long business exodus. In addition, plans for a waterfront makeover are finally getting some serious attention." ...
for the complete story
Wednesday, April 16, 2008
World looking to US for suburbia clues
from today's USA Today (4/16):
Modern suburbia: It's not just in America anymore;
China, other nations see USA as a model for how to handle growth -- and what to avoid
Haya El Nasser
"A Chinese delegation from Beijing arrived in Phoenix last month and headed west to the Sonoran Desert, deep into suburbia. Its destination: a quintessential American residential development in Buckeye, one of the many suburbs dotting the sprawling metropolitan area.
Members of the group studied the streetscape, the golf course, the spa, the cybercafe, the health care amenities and the design of the single-family homes at Sun City Festival, a 3,000-acre, planned community for people over 55. They commented on the cleanliness and orderliness of it all.
The 25 Chinese who toured the Del Webb development were not seniors planning their retirement but government officials and their spouses, a couple of architects and a banker. Their mission: study American suburbia with an eye toward replicating it back home.
For good or bad, the USA's suburbs have become a living laboratory for the world. Developing countries contending with explosive population growth and economic expansion are looking here for hints about how to manage growing cities. For many, modern suburbia -- a largely American concept and lifestyle for more than 50 years -- is a nirvana worth emulating. Others want to avoid it." ...
for the complete story
Modern suburbia: It's not just in America anymore;
China, other nations see USA as a model for how to handle growth -- and what to avoid
Haya El Nasser
"A Chinese delegation from Beijing arrived in Phoenix last month and headed west to the Sonoran Desert, deep into suburbia. Its destination: a quintessential American residential development in Buckeye, one of the many suburbs dotting the sprawling metropolitan area.
Members of the group studied the streetscape, the golf course, the spa, the cybercafe, the health care amenities and the design of the single-family homes at Sun City Festival, a 3,000-acre, planned community for people over 55. They commented on the cleanliness and orderliness of it all.
The 25 Chinese who toured the Del Webb development were not seniors planning their retirement but government officials and their spouses, a couple of architects and a banker. Their mission: study American suburbia with an eye toward replicating it back home.
For good or bad, the USA's suburbs have become a living laboratory for the world. Developing countries contending with explosive population growth and economic expansion are looking here for hints about how to manage growing cities. For many, modern suburbia -- a largely American concept and lifestyle for more than 50 years -- is a nirvana worth emulating. Others want to avoid it." ...
for the complete story
Affordable housing tax proposed for Broward County, FL
from today's Fort Lauderdale's Sun-Sentinel (4/16):
AFFORDABLE HOUSING TAX CONSIDERED;
BROWARD PLAN WOULD TAP NEW BUSINESSES
Scott Wyman Staff writer
"New businesses could be taxed to help generate affordable housing needed for workers under a proposal that Broward County officials agreed to explore Tuesday.
About $2.6 million could be raised to build homes or rental complexes or help families with home purchases if the county were to charge developers an extra $1 per square foot for their projects.
Builders have expressed skepticism about the housing fees, but supporters argue it will provide needed financing to solve a long-standing problem. Independent studies have repeatedly shown the area has a shortfall of housing for low- and middle-income families because wages have not kept pace with real estate prices and rents." ...
for the complete story
AFFORDABLE HOUSING TAX CONSIDERED;
BROWARD PLAN WOULD TAP NEW BUSINESSES
Scott Wyman Staff writer
"New businesses could be taxed to help generate affordable housing needed for workers under a proposal that Broward County officials agreed to explore Tuesday.
About $2.6 million could be raised to build homes or rental complexes or help families with home purchases if the county were to charge developers an extra $1 per square foot for their projects.
Builders have expressed skepticism about the housing fees, but supporters argue it will provide needed financing to solve a long-standing problem. Independent studies have repeatedly shown the area has a shortfall of housing for low- and middle-income families because wages have not kept pace with real estate prices and rents." ...
for the complete story
Indian gaming revenues down
from today's Indian Country Today online (4/16):
NIGA optimistic in a time when revenues are down
Posted: April 16, 2008
by: Jerry Reynolds
"WASHINGTON - The growth rate in revenues from Indian gaming has fallen by more than half, from 12 percent in 2006 to 5.5 or 6 percent in 2007, according to the National Indian Gaming Association." ...
"NIGA doesn't forecast the future economic performance of Indian gaming, Van Norman said, but added that the industry's track record, combined with examples of growth in local venues, is cause for optimism." ...
for the complete story
NIGA optimistic in a time when revenues are down
Posted: April 16, 2008
by: Jerry Reynolds
"WASHINGTON - The growth rate in revenues from Indian gaming has fallen by more than half, from 12 percent in 2006 to 5.5 or 6 percent in 2007, according to the National Indian Gaming Association." ...
"NIGA doesn't forecast the future economic performance of Indian gaming, Van Norman said, but added that the industry's track record, combined with examples of growth in local venues, is cause for optimism." ...
for the complete story
Miami Downtown Development Authority funds facade improvement
from this morning's GlobeSt (4/16):
Last updated: April 15, 2008 04:29pm
Miami Launches Facade Improvement Program
By Crystal Proenza
(Crystal Proenza is associate editor of Real Estate Florida.)
"MIAMI-The Miami Downtown Development Authority has launched a facade improvement grant program for existing buildings in the shadows of the city's newer condominium and office towers. The program is intended to assist building owners within the historic district to improve their exteriors, beautify properties and mitigate code violations.
According to the published guidelines, the program is designed to incentivize exterior improvements to commercial properties in order to create a better environment for customers, residents, and visitors. While other Miami DDA programs contribute to streetscape improvements and enhanced safety, the environment still lacks the aesthetics required to attract quality retail, evening activity and customers, according to the program guidelines.
Under part of the program aimed at tenant improvement, businesses will be eligible for grants reimbursing up to 75% of the cost of improvements, including masonry, security, gates, awnings, paint, window/door glazing, signage, lighting and electrical repairs. Grant funds will be available with a project cap of $75,000 on a matching 75/25 system with up to $56,250, or 75%, available from the grant fund and a minimum 25% from the property owner." ...
for the complete story
Last updated: April 15, 2008 04:29pm
Miami Launches Facade Improvement Program
By Crystal Proenza
(Crystal Proenza is associate editor of Real Estate Florida.)
"MIAMI-The Miami Downtown Development Authority has launched a facade improvement grant program for existing buildings in the shadows of the city's newer condominium and office towers. The program is intended to assist building owners within the historic district to improve their exteriors, beautify properties and mitigate code violations.
According to the published guidelines, the program is designed to incentivize exterior improvements to commercial properties in order to create a better environment for customers, residents, and visitors. While other Miami DDA programs contribute to streetscape improvements and enhanced safety, the environment still lacks the aesthetics required to attract quality retail, evening activity and customers, according to the program guidelines.
Under part of the program aimed at tenant improvement, businesses will be eligible for grants reimbursing up to 75% of the cost of improvements, including masonry, security, gates, awnings, paint, window/door glazing, signage, lighting and electrical repairs. Grant funds will be available with a project cap of $75,000 on a matching 75/25 system with up to $56,250, or 75%, available from the grant fund and a minimum 25% from the property owner." ...
for the complete story
China leads world in airport city development
from this morning's GlobeSt (4/16):
Last updated: April 16, 2008 09:54am
China Leading Globally With Airport City Plans
By Connie Gore
"BEIJING-To keep up with its exponential growth on all fronts, China has embraced the airport cities concept by setting a five-year plan in motion to develop all types of commercial space inside and outside their anchors' fences. The building frenzy is an offshoot of double-digit annual growth in passenger and cargo traffic.
China is leading the world in the development of airport cities, with 15 in various stages of planning as support for an aeronautical pipeline calling for 95 additional airports by 2020 for the existing base of 149 facilities, according to Ping Wang, co-founder and EVP of Washington, DC-based Garfinkle & Wang Associates, and the general manager of GCW [Beijing] Ltd. He said seven of the country's existing airports, which include shared facilities with the military, are supporting 70% of the country's annual passenger and cargo traffic.
As a result of the hard push, the country is caught in an infrastructure race to build roads and high-speed rail to support office, retail, logistics, manufacturing and residential development, all airport-anchored and related." ....
for the complete story
Last updated: April 16, 2008 09:54am
China Leading Globally With Airport City Plans
By Connie Gore
"BEIJING-To keep up with its exponential growth on all fronts, China has embraced the airport cities concept by setting a five-year plan in motion to develop all types of commercial space inside and outside their anchors' fences. The building frenzy is an offshoot of double-digit annual growth in passenger and cargo traffic.
China is leading the world in the development of airport cities, with 15 in various stages of planning as support for an aeronautical pipeline calling for 95 additional airports by 2020 for the existing base of 149 facilities, according to Ping Wang, co-founder and EVP of Washington, DC-based Garfinkle & Wang Associates, and the general manager of GCW [Beijing] Ltd. He said seven of the country's existing airports, which include shared facilities with the military, are supporting 70% of the country's annual passenger and cargo traffic.
As a result of the hard push, the country is caught in an infrastructure race to build roads and high-speed rail to support office, retail, logistics, manufacturing and residential development, all airport-anchored and related." ....
for the complete story
Houston City-owned Hilton going on the market
from this morning's GlobeSt (4/16):
Last updated: April 16, 2008 09:30am
24-Story Hilton Americas Hitting Market in May
By Amy Wolff Sorter
"HOUSTON-The 1,203-room Hilton Americas-Houston will be put on the sales block within 30 days. The no minimum-ask offering is predicted to draw upward of $350 million.
Developed by the City of Houston, the hotel at 1600 Lamar St. is owned by the Houston Convention Center Hotel Corp., which was charged with stabilizing it. Occupancy at the 2007 close was 64.2%, with its average daily room rate at $147." ...
for the complete story
Last updated: April 16, 2008 09:30am
24-Story Hilton Americas Hitting Market in May
By Amy Wolff Sorter
"HOUSTON-The 1,203-room Hilton Americas-Houston will be put on the sales block within 30 days. The no minimum-ask offering is predicted to draw upward of $350 million.
Developed by the City of Houston, the hotel at 1600 Lamar St. is owned by the Houston Convention Center Hotel Corp., which was charged with stabilizing it. Occupancy at the 2007 close was 64.2%, with its average daily room rate at $147." ...
for the complete story
Tuesday, April 15, 2008
American Express releases figures on travel-related rate trends
from American Express (4/15):
INTERNATIONAL AIRFARE SURGED AS DOMESTIC AIRFARE LEVELED OFF IN 2007 ACCORDING TO AMERICAN EXPRESS BUSINESS TRAVEL
Hotel Supply Constraints Drove High Costs As Competition for Business Travelers Propelled Product Improvements; American Express Announced New Consulting Focus Aimed at Managing Traveler Behavior
"NEW YORK, April 15, 2008 -- American Express Business Travel today released analysis of North America based domestic and international air, hotel and car rental rates for the full year 2007. Using data from its Business Travel Monitor, the industry's pricing benchmark, international rates experienced price increases across the board while domestic airfare and hotel rates remained stable.
"Tight global supply and another year of high fuel costs drove continued price growth for international business travel in 2007 even as domestic prices flattened," said Hervé Sedky, Vice President and General Manager, Global Advisory Services, American Express Business Travel. "Companies can achieve savings in this environment through a well managed, dynamic travel and entertainment program allowing the flexibility to adjust their travel policies in real-time accordance with fast-moving industry changes. To help lock in savings, it's also essential for companies to clearly communicate policy changes to travelers in order to influence their spending behavior while on the road." ....
for the complete story with tables on ADR and flight expenses by type and year
INTERNATIONAL AIRFARE SURGED AS DOMESTIC AIRFARE LEVELED OFF IN 2007 ACCORDING TO AMERICAN EXPRESS BUSINESS TRAVEL
Hotel Supply Constraints Drove High Costs As Competition for Business Travelers Propelled Product Improvements; American Express Announced New Consulting Focus Aimed at Managing Traveler Behavior
"NEW YORK, April 15, 2008 -- American Express Business Travel today released analysis of North America based domestic and international air, hotel and car rental rates for the full year 2007. Using data from its Business Travel Monitor, the industry's pricing benchmark, international rates experienced price increases across the board while domestic airfare and hotel rates remained stable.
"Tight global supply and another year of high fuel costs drove continued price growth for international business travel in 2007 even as domestic prices flattened," said Hervé Sedky, Vice President and General Manager, Global Advisory Services, American Express Business Travel. "Companies can achieve savings in this environment through a well managed, dynamic travel and entertainment program allowing the flexibility to adjust their travel policies in real-time accordance with fast-moving industry changes. To help lock in savings, it's also essential for companies to clearly communicate policy changes to travelers in order to influence their spending behavior while on the road." ....
for the complete story with tables on ADR and flight expenses by type and year
Marriott announces new properties in India
from today's Hotels newsletter (4/15):
Marriott Announces Four Hotels in India
Travel Business Review, April 15, 2008 Tuesday
"Four new hotels worth over USD400m have been announced by Marriott International Inc (NYSE:MAR).
The hotels are to debut in India by 2010 in the cities of New Delhi, Hyderabad, Kolkata and Amritsar. This project is in collaboration with Emaar MGF, one of India's real estate developers. The hotels are to be part of the JW Marriott brand except for the one in Amritsar, which is to be Courtyard by Marriott Amritsar." ...
for the complete story
Marriott Announces Four Hotels in India
Travel Business Review, April 15, 2008 Tuesday
"Four new hotels worth over USD400m have been announced by Marriott International Inc (NYSE:MAR).
The hotels are to debut in India by 2010 in the cities of New Delhi, Hyderabad, Kolkata and Amritsar. This project is in collaboration with Emaar MGF, one of India's real estate developers. The hotels are to be part of the JW Marriott brand except for the one in Amritsar, which is to be Courtyard by Marriott Amritsar." ...
for the complete story
Dubai World and Senegal team for resort
from today's Hotels newsletter (4/15):
Dubai World to develop hotel, beach resort on Goree Island
Emirates News Agency, April 15, 2008 Tuesday 6:56 PM EST
"Dubai - Dubai World on Tuesday (April 15) signed an MOU with the Government of Senegal to develop a world-class 5-star hotel and beach resort on Gor?e Island, as well as a bird sanctuary and reserve north of Dakar and another game reserve close to the Senegalese capital.
Agreements to this effect were signed in Dakar by Sultan Ahmed Bin Sulayem, Chairman of Dubai World, and Cheikh Hadjibou Soumare, the Prime Minister of Senegal, in the presence of Karim Wade, Special Advisor to the President of Senegal and Chairman of the National Agency of Organisation of Islamic Conference (ANOCI)." ...
for the complete story
Dubai World to develop hotel, beach resort on Goree Island
Emirates News Agency, April 15, 2008 Tuesday 6:56 PM EST
"Dubai - Dubai World on Tuesday (April 15) signed an MOU with the Government of Senegal to develop a world-class 5-star hotel and beach resort on Gor?e Island, as well as a bird sanctuary and reserve north of Dakar and another game reserve close to the Senegalese capital.
Agreements to this effect were signed in Dakar by Sultan Ahmed Bin Sulayem, Chairman of Dubai World, and Cheikh Hadjibou Soumare, the Prime Minister of Senegal, in the presence of Karim Wade, Special Advisor to the President of Senegal and Chairman of the National Agency of Organisation of Islamic Conference (ANOCI)." ...
for the complete story
Hilton Novosibirsk
from today's Hotels newsletter (4/14):
Doubletree by Hilton(TM) to Launch in Russia; Doubletree by Hilton Novosibirsk expected to open in Fall 2008
Business Wire, April 14, 2008 Monday 1:59 AM GMT
"Hilton Hotels Corporation (HHC) has today announced that it has entered into a franchise agreement with ZAO Russkaya Kompaniya Razvitiya (a wholly owned subsidiary of the London & Regional group) to introduce the Doubletree by Hilton(TM)hotel product in Russia.
This agreement forms part of a 'Strategic Development Alliance' with London & Regional Properties Limited (L&R) which (once formalised) is expected to introduce approximately 25 new hotels across Russia, encompassing selected brands within the Hilton Family of Hotels.
Scheduled to open towards the end of 2008, the upscale, full service hotel Doubletree by Hilton brand will debut in Novosibirsk, Russia's third largest and fastest growing city, marking Hilton's rapid expansion into the country with three different hotel brands launching this year." ...
for the complete story
Doubletree by Hilton(TM) to Launch in Russia; Doubletree by Hilton Novosibirsk expected to open in Fall 2008
Business Wire, April 14, 2008 Monday 1:59 AM GMT
"Hilton Hotels Corporation (HHC) has today announced that it has entered into a franchise agreement with ZAO Russkaya Kompaniya Razvitiya (a wholly owned subsidiary of the London & Regional group) to introduce the Doubletree by Hilton(TM)hotel product in Russia.
This agreement forms part of a 'Strategic Development Alliance' with London & Regional Properties Limited (L&R) which (once formalised) is expected to introduce approximately 25 new hotels across Russia, encompassing selected brands within the Hilton Family of Hotels.
Scheduled to open towards the end of 2008, the upscale, full service hotel Doubletree by Hilton brand will debut in Novosibirsk, Russia's third largest and fastest growing city, marking Hilton's rapid expansion into the country with three different hotel brands launching this year." ...
for the complete story
spa trends
from today's Hotels newsletter (4/15):
Profitable Spas: Be On-Trend Rather Than Trendy
-- Hotels, 4/15/2008 7:34:00 AM
By Judith L. Singer, Ed.D., ISHC, President & Co-Owner Health Fitness Dynamics, Pompano Beach, Florida. www.hfdspa.com
"As someone who has made a career out of researching, planning, marketing and providing management advisory services for the spa industry, I have seen the “good, bad and the ugly” in terms of facilities, treatment menus, service standards, staffing schedule, compensation programs, marketing messages, financial statements, etc.
As I look ahead, there are many challenges and opportunities for the spa industry. In this article, I am presenting some ideas that might help you prepare for the future. Keep in mind that the future is tomorrow, so if any of the ideas make sense, think about how you can use them now.
One of the most popular marketing terms in the hospitality industry is the 3 letter word called “spa.” Other industries have since adopted this term as a marketing tool, e.g., auto spa, spa tea, spa shoes, spa pillows, spa music, spa candles, spa cuisine, spa lifestyle, etc. Spas have become an adjective as well as a noun. They are a commodity as well as an experience. This is good because it broadens the awareness of the term, but there is a danger in the hospitality industry with people jumping on the spa bandwagon to develop or operate a spa without always understanding what the consumer expects, what it costs to build and operate, what are the economic realities and risks, etc.
Spas are “hot” but it is easy to get “burned” unless your spa development, marketing and management plans are on-trend and market-driven. There is very little room for error. Spas are part of just about every new four and five star resort, condo-hotel and lifestyle real estate development. They are also being added to existing properties so that the property does not lose its market share or competitive positioning. Consumers are very spa savvy so it’s important to know how to make your spa different from and better than that of your competitors.
We always tell our clients that they do NOT want to be in the spa business per se. They should only build a spa if it contributes to their “core” business of selling rooms or real-estate. We are not believers in “build it and they will come” although if you do not have a spa, your property may not even be considered by meeting planners or leisure guests. Hospitality operators need to be committed to marketing and integrating the spa into their “core” business if they want it to be a profitable business as well as an asset to the overall lodging or real estate venture." ....
for the complete story
Profitable Spas: Be On-Trend Rather Than Trendy
-- Hotels, 4/15/2008 7:34:00 AM
By Judith L. Singer, Ed.D., ISHC, President & Co-Owner Health Fitness Dynamics, Pompano Beach, Florida. www.hfdspa.com
"As someone who has made a career out of researching, planning, marketing and providing management advisory services for the spa industry, I have seen the “good, bad and the ugly” in terms of facilities, treatment menus, service standards, staffing schedule, compensation programs, marketing messages, financial statements, etc.
As I look ahead, there are many challenges and opportunities for the spa industry. In this article, I am presenting some ideas that might help you prepare for the future. Keep in mind that the future is tomorrow, so if any of the ideas make sense, think about how you can use them now.
One of the most popular marketing terms in the hospitality industry is the 3 letter word called “spa.” Other industries have since adopted this term as a marketing tool, e.g., auto spa, spa tea, spa shoes, spa pillows, spa music, spa candles, spa cuisine, spa lifestyle, etc. Spas have become an adjective as well as a noun. They are a commodity as well as an experience. This is good because it broadens the awareness of the term, but there is a danger in the hospitality industry with people jumping on the spa bandwagon to develop or operate a spa without always understanding what the consumer expects, what it costs to build and operate, what are the economic realities and risks, etc.
Spas are “hot” but it is easy to get “burned” unless your spa development, marketing and management plans are on-trend and market-driven. There is very little room for error. Spas are part of just about every new four and five star resort, condo-hotel and lifestyle real estate development. They are also being added to existing properties so that the property does not lose its market share or competitive positioning. Consumers are very spa savvy so it’s important to know how to make your spa different from and better than that of your competitors.
We always tell our clients that they do NOT want to be in the spa business per se. They should only build a spa if it contributes to their “core” business of selling rooms or real-estate. We are not believers in “build it and they will come” although if you do not have a spa, your property may not even be considered by meeting planners or leisure guests. Hospitality operators need to be committed to marketing and integrating the spa into their “core” business if they want it to be a profitable business as well as an asset to the overall lodging or real estate venture." ....
for the complete story
Monday, April 14, 2008
New Ritz-Carlton with estate homes for Paradise Valley, AZ
from today's GlobeSt (4/14):
UPDATE Last updated: April 14, 2008 07:55am
Town Council OKs $1.5B Ritz-Carlton Development
By John McCloud
"PARADISE VALLEY, AZ-In a unanimous vote, Paradise Valley Town Council has approved a $1.5-billion hotel and residential development that would be the first luxury master-planned community under the Ritz-Carlton brand. With a final map now being drawn, presales could begin as early as May.
The 123-acre project is being developed by Five Star Development Group Inc. of neighboring Scottsdale, AZ in partnership with Ritz-Carlton Hotel Co. LLC of Chevy Chase, MD." ... "the project will include a 225-room Ritz-Carlton hotel and 160 villas and estate homes as well as 15 one-acre home sites." ...
for the complete story
UPDATE Last updated: April 14, 2008 07:55am
Town Council OKs $1.5B Ritz-Carlton Development
By John McCloud
"PARADISE VALLEY, AZ-In a unanimous vote, Paradise Valley Town Council has approved a $1.5-billion hotel and residential development that would be the first luxury master-planned community under the Ritz-Carlton brand. With a final map now being drawn, presales could begin as early as May.
The 123-acre project is being developed by Five Star Development Group Inc. of neighboring Scottsdale, AZ in partnership with Ritz-Carlton Hotel Co. LLC of Chevy Chase, MD." ... "the project will include a 225-room Ritz-Carlton hotel and 160 villas and estate homes as well as 15 one-acre home sites." ...
for the complete story
North Las Vegas casino resort, community development JV announced
from this morning's GlobeSt. (4/14):
Last updated: April 14, 2008 07:54am
Boyd, Olympia Propose North-End Resort, Casino
By Brian K. Miller
"LAS VEGAS-Boyd Gaming Corp. and Olympia Gaming have formed a joint venture to develop a $1-billion-plus casino, resort and spa on the northern edge of the Las Vegas Valley. The JV filed an application with the City of North Las Vegas this week to develop the mixed-use entertainment center on a 66-acre site at Losee Road and Interstate 215, a few exits west of Interstate 15 in the Park Highlands master-planned community.
The preliminary proposal calls for 1,200 hotel rooms to be built over three phases. The first phase would include 400 hotel rooms, a casino, race and sports book, restaurants, meeting rooms and other entertainment amenities. Boyd Gaming will construct and manage the casino, resort and spa on behalf of the joint venture; assuming approval, construction of the casino would not begin for three- to five years, allowing additional time for the surrounding area to be built out.
The Park Highlands development is expected to feature six school sites; a regional police station; a fire station; a post office; a public library; 130 acres of dedicated parks and trails; and 300 acres of preservation area. Boyd says costs for infrastructure and improvements are estimated to be in excess of $1 billion. Olympia, American West, Astoria, Standard Pacific and D.R. Horton are the homebuilders." ...
for the complete story
Last updated: April 14, 2008 07:54am
Boyd, Olympia Propose North-End Resort, Casino
By Brian K. Miller
"LAS VEGAS-Boyd Gaming Corp. and Olympia Gaming have formed a joint venture to develop a $1-billion-plus casino, resort and spa on the northern edge of the Las Vegas Valley. The JV filed an application with the City of North Las Vegas this week to develop the mixed-use entertainment center on a 66-acre site at Losee Road and Interstate 215, a few exits west of Interstate 15 in the Park Highlands master-planned community.
The preliminary proposal calls for 1,200 hotel rooms to be built over three phases. The first phase would include 400 hotel rooms, a casino, race and sports book, restaurants, meeting rooms and other entertainment amenities. Boyd Gaming will construct and manage the casino, resort and spa on behalf of the joint venture; assuming approval, construction of the casino would not begin for three- to five years, allowing additional time for the surrounding area to be built out.
The Park Highlands development is expected to feature six school sites; a regional police station; a fire station; a post office; a public library; 130 acres of dedicated parks and trails; and 300 acres of preservation area. Boyd says costs for infrastructure and improvements are estimated to be in excess of $1 billion. Olympia, American West, Astoria, Standard Pacific and D.R. Horton are the homebuilders." ...
for the complete story
Labor and tourism in Asia and the Pacific
from this morning's STR enews highlights (4/14):
The Quiet Battle for Travel and Tourism Talent
The "war for talent" is real
"BANGKOK, THAILAND | The labour pool will soon shrink in many Asia Pacific destinations, even while more than two-thirds of the world's new jobs will be created in the region.
But this does not necessitate slower travel and tourism industry growth rates." ...
"Delegates learned that working-age populations will begin to contract in Korea (ROK) in 2015; China (PRC) in 2016; Singapore in 2017; and Thailand in 2025. In Japan, the number of workers in the population started to decline in 1994.
In the travel and tourism industry, inexperienced staff members are being fast-tracked into positions of responsibility quicker than ever before. Salaries are rising as competition for talent heats up and employees show a willingness to job-hop." ...
for the complete story
The Quiet Battle for Travel and Tourism Talent
The "war for talent" is real
"BANGKOK, THAILAND | The labour pool will soon shrink in many Asia Pacific destinations, even while more than two-thirds of the world's new jobs will be created in the region.
But this does not necessitate slower travel and tourism industry growth rates." ...
"Delegates learned that working-age populations will begin to contract in Korea (ROK) in 2015; China (PRC) in 2016; Singapore in 2017; and Thailand in 2025. In Japan, the number of workers in the population started to decline in 1994.
In the travel and tourism industry, inexperienced staff members are being fast-tracked into positions of responsibility quicker than ever before. Salaries are rising as competition for talent heats up and employees show a willingness to job-hop." ...
for the complete story
Wednesday, April 9, 2008
Monday, March 31, 2008
Wednesday, March 26, 2008
New Orleans office market moves above pre-Katrina levels
from this morning's GlobeSt. (3/26):
Last updated: March 26, 2008 10:55am
Office Fundamentals Peak in Greater New Orleans
By Connie Gore
"NEW ORLEANS-With attention focused on residential and retail, the Greater New Orleans' office market has been overlooked by outsiders in the post-Katrina analyses. But, the fact is most metros would envy its fundamentals: 91.5% class A occupancy in the CBD and suburbs and $1.50-per-sf to $3-per-sf rent increases since the 2005 hurricane." ...
for the complete story
Last updated: March 26, 2008 10:55am
Office Fundamentals Peak in Greater New Orleans
By Connie Gore
"NEW ORLEANS-With attention focused on residential and retail, the Greater New Orleans' office market has been overlooked by outsiders in the post-Katrina analyses. But, the fact is most metros would envy its fundamentals: 91.5% class A occupancy in the CBD and suburbs and $1.50-per-sf to $3-per-sf rent increases since the 2005 hurricane." ...
for the complete story
Monterey, CA waterfront to get new hotel
from this morning's GlobeSt (3/26):
Last updated: March 26, 2008 09:20am
$80M Waterfront Hotel Set to Open
By Brian K. Miller
"MONTEREY, CA-The first new hotel to be built here in 20 years will open in May across from the Monterey Bay Aquarium. The 208-room InterContinental-branded Clement Monterey is a development of Pacific Hotel Management LLC, a San Mateo-based company that develops and manages all of the hotels owned by affiliates of Clement Chen & Associates. The total development cost is $80 million, a source familiar with the project tells GlobeSt.com." ...
for the complete story
Last updated: March 26, 2008 09:20am
$80M Waterfront Hotel Set to Open
By Brian K. Miller
"MONTEREY, CA-The first new hotel to be built here in 20 years will open in May across from the Monterey Bay Aquarium. The 208-room InterContinental-branded Clement Monterey is a development of Pacific Hotel Management LLC, a San Mateo-based company that develops and manages all of the hotels owned by affiliates of Clement Chen & Associates. The total development cost is $80 million, a source familiar with the project tells GlobeSt.com." ...
for the complete story
Tuesday, March 25, 2008
La Quita to get green housing development
from GlobeSt (3/24):
Last updated: March 24, 2008 05:19pm
Coalition Unveils $90M Green Housing
By Bob Howard
"LA QUINTA, CA-The Coachella Valley Housing Coalition has started work on a 218-unit affordable housing and LEED-certified multifamily complex on nearly 15 acres in this upscale community near Palm Springs. The project, called Wolff Waters Place, will provide housing that is designed to be affordable for families earning 35% to 50% of the area's median income, or approximately $30,000 per year for a family of four.
Wolff Waters Place will include 22 buildings designed as townhomes, flats and garden apartments, each with a private outdoor patio or balcony. The project is unusual in that it targets large families, who often have the most difficult time finding affordable housing, coalition executive director John F. Mealey points out. Half the apartments have three or four bedrooms and will be offered at rents that are as much as 65% below market-rate apartments. The project will take nearly two years to be completed and is expected to obtain LEED certification for its construction and design.
The project site is in La Quinta's Redevelopment Area No. 2, at Avenue 48 and Dune Palms Road. The city's redevelopment agency sold the project site to CVHC for $1 and made $30 million to help fund the development. " ...
for the complete story
Last updated: March 24, 2008 05:19pm
Coalition Unveils $90M Green Housing
By Bob Howard
"LA QUINTA, CA-The Coachella Valley Housing Coalition has started work on a 218-unit affordable housing and LEED-certified multifamily complex on nearly 15 acres in this upscale community near Palm Springs. The project, called Wolff Waters Place, will provide housing that is designed to be affordable for families earning 35% to 50% of the area's median income, or approximately $30,000 per year for a family of four.
Wolff Waters Place will include 22 buildings designed as townhomes, flats and garden apartments, each with a private outdoor patio or balcony. The project is unusual in that it targets large families, who often have the most difficult time finding affordable housing, coalition executive director John F. Mealey points out. Half the apartments have three or four bedrooms and will be offered at rents that are as much as 65% below market-rate apartments. The project will take nearly two years to be completed and is expected to obtain LEED certification for its construction and design.
The project site is in La Quinta's Redevelopment Area No. 2, at Avenue 48 and Dune Palms Road. The city's redevelopment agency sold the project site to CVHC for $1 and made $30 million to help fund the development. " ...
for the complete story
Atlantic Yards in trouble?
from this morning's GlobeSt (3/25):
Last updated: March 25, 2008 08:55am
Economy Could Stall Atlantic Yards Project
By Natalie Dolce
"NEW YORK CITY-Recent published reports indicate that the slowing economy is likely to delay Forest City Ratner's proposed $4-billion Atlantic Yards project in Prospect Heights, Brooklyn, but a Forest City Ratner spokesperson tells GlobeSt.com that today’s business environment "will not determine the final face of this project or deny the borough and the city its many benefits, including the thousands of units of affordable housing."
The published reports quote Ratner as saying that construction on a $950-million basketball arena for the Nets would start by the end of the year. The arena was to be surrounded by the office tower, known as Miss Brooklyn, and three residential buildings in the first phase of the project." ...
for the complete story
Last updated: March 25, 2008 08:55am
Economy Could Stall Atlantic Yards Project
By Natalie Dolce
"NEW YORK CITY-Recent published reports indicate that the slowing economy is likely to delay Forest City Ratner's proposed $4-billion Atlantic Yards project in Prospect Heights, Brooklyn, but a Forest City Ratner spokesperson tells GlobeSt.com that today’s business environment "will not determine the final face of this project or deny the borough and the city its many benefits, including the thousands of units of affordable housing."
The published reports quote Ratner as saying that construction on a $950-million basketball arena for the Nets would start by the end of the year. The arena was to be surrounded by the office tower, known as Miss Brooklyn, and three residential buildings in the first phase of the project." ...
for the complete story
Las Vegas Citycenter development plans announced
from this morning's GlobeSt (3/25):
Last updated: March 25, 2008 10:34am
FX Details $3B Plan for Park Central Site
By Brian K. Miller
"LAS VEGAS-FX Real Estate and Entertainment Inc., the publicly traded owner of 17.72 acres across from the multibillion-dollar Citycenter development on the Las Vegas Strip, revealed its development plans Monday in a 10-K filing with the Securities and Exchange Commission. Formed in 2007 and run by Robert F.X. Sillerman and Paul C. Kanavos, the company states in its annual report that it plans to spend $3.1 billion redeveloping the site with 3,047 hotel rooms, a 93,000-sf casino, 94,000 sf of retail, 100,000 sf of entertainment venues and 147 private residences.
Already zoned for a casino resort but currently hosting other uses, the acreage sits on the southeast corner of Las Vegas Boulevard and Harmon Avenue. The six parcels that comprise the site have a combined 1,175 feet of frontage on the Strip and 600 feet on Harmon. “We are designing the project to compete within the upper strata of the luxury market,” the company states in its filing.
The first phase of the project is slated to include approximately eight million sf of development (excluding parking) consisting of a luxury hotel casino, the first for its Elvis-inspired luxury brand, as well as a luxury branded five-star hotel without a casino. The luxury hotel casino is expected to include 2,269 rooms and be wholly owned and operated by FX. The five-star non-gaming hotel is expected to include approximately 778 rooms and approximately 147 for-sale residential units.
The 93,000 sf of gaming area in the hotel casino does not include a high-limit area, race and sports book, and poker room that also are planned. The hotel casino also would include 206,000 sf of convention space including banquet space, ballrooms and break-out meeting rooms. Other plans include a 1,605-seat multi-use theater/showroom and an expansive wedding chapel complex. The 100,000 sf of entertainment uses would include Elvis-themed attractions, including an interactive multimedia experience, a boutique and a superstore. The 94,000 sf of retail would be “distributed throughout the facility” along with 14 restaurants totaling 3,400 seats and various bar/lounge areas with an additional 675 seats." ....
for the complete story
The hotel-casino tower is slated to have 2,269 rooms, including 1,866 standard rooms of approximately 611 sf and 392 suites ranging from 855 sf to more than 6,400 sf. The tower would be crowned with a rooftop restaurant that will convert to a lounge in the evening. The non-gaming hotel in the first phase, in addition to 778 hotel rooms, is currently contemplated to include 37,200 sf of meeting space, a restaurant, bar/lounge, health club and spa. The 147 for-sale residences are expected to feature one-, two- and three-bedroom units averaging 2,274 net sellable sf.
Last updated: March 25, 2008 10:34am
FX Details $3B Plan for Park Central Site
By Brian K. Miller
"LAS VEGAS-FX Real Estate and Entertainment Inc., the publicly traded owner of 17.72 acres across from the multibillion-dollar Citycenter development on the Las Vegas Strip, revealed its development plans Monday in a 10-K filing with the Securities and Exchange Commission. Formed in 2007 and run by Robert F.X. Sillerman and Paul C. Kanavos, the company states in its annual report that it plans to spend $3.1 billion redeveloping the site with 3,047 hotel rooms, a 93,000-sf casino, 94,000 sf of retail, 100,000 sf of entertainment venues and 147 private residences.
Already zoned for a casino resort but currently hosting other uses, the acreage sits on the southeast corner of Las Vegas Boulevard and Harmon Avenue. The six parcels that comprise the site have a combined 1,175 feet of frontage on the Strip and 600 feet on Harmon. “We are designing the project to compete within the upper strata of the luxury market,” the company states in its filing.
The first phase of the project is slated to include approximately eight million sf of development (excluding parking) consisting of a luxury hotel casino, the first for its Elvis-inspired luxury brand, as well as a luxury branded five-star hotel without a casino. The luxury hotel casino is expected to include 2,269 rooms and be wholly owned and operated by FX. The five-star non-gaming hotel is expected to include approximately 778 rooms and approximately 147 for-sale residential units.
The 93,000 sf of gaming area in the hotel casino does not include a high-limit area, race and sports book, and poker room that also are planned. The hotel casino also would include 206,000 sf of convention space including banquet space, ballrooms and break-out meeting rooms. Other plans include a 1,605-seat multi-use theater/showroom and an expansive wedding chapel complex. The 100,000 sf of entertainment uses would include Elvis-themed attractions, including an interactive multimedia experience, a boutique and a superstore. The 94,000 sf of retail would be “distributed throughout the facility” along with 14 restaurants totaling 3,400 seats and various bar/lounge areas with an additional 675 seats." ....
for the complete story
The hotel-casino tower is slated to have 2,269 rooms, including 1,866 standard rooms of approximately 611 sf and 392 suites ranging from 855 sf to more than 6,400 sf. The tower would be crowned with a rooftop restaurant that will convert to a lounge in the evening. The non-gaming hotel in the first phase, in addition to 778 hotel rooms, is currently contemplated to include 37,200 sf of meeting space, a restaurant, bar/lounge, health club and spa. The 147 for-sale residences are expected to feature one-, two- and three-bedroom units averaging 2,274 net sellable sf.
Aerojet land development approved
from this morning's Sacramento Bee (3/25):
Aerojet gets state OK to develop 2,300 acres in Rancho Cordova
By Dale Kasler - dkasler@sacbee.com
Published 12:24 am PDT Tuesday, March 25, 2008
"Aerojet has won final environmental clearance to develop 2,300 acres of land where dangerous chemicals were once dumped, marking a big step in realizing the company's real estate dreams – and perhaps soothing some of its impatient shareholders.
Aerojet's parent GenCorp Inc. on Monday announced what it called a "milestone" agreement with the state Department of Toxic Substances Control that declares the 2,300 acres in Rancho Cordova safe for development. The agreement lets Aerojet move ahead on a major portion of Rio del Oro, one of several developments planned by Aerojet on land south of Highway 50.
Much of Aerojet's property remains subject to environmental cleanup orders, the legacy of years of rocket-engine testing and manufacturing. But of the 6,400 acres earmarked for houses, offices and other development, Monday's agreement means only 1,100 acres are subject to some form of environmental restriction." ...
for the complete story
Aerojet gets state OK to develop 2,300 acres in Rancho Cordova
By Dale Kasler - dkasler@sacbee.com
Published 12:24 am PDT Tuesday, March 25, 2008
"Aerojet has won final environmental clearance to develop 2,300 acres of land where dangerous chemicals were once dumped, marking a big step in realizing the company's real estate dreams – and perhaps soothing some of its impatient shareholders.
Aerojet's parent GenCorp Inc. on Monday announced what it called a "milestone" agreement with the state Department of Toxic Substances Control that declares the 2,300 acres in Rancho Cordova safe for development. The agreement lets Aerojet move ahead on a major portion of Rio del Oro, one of several developments planned by Aerojet on land south of Highway 50.
Much of Aerojet's property remains subject to environmental cleanup orders, the legacy of years of rocket-engine testing and manufacturing. But of the 6,400 acres earmarked for houses, offices and other development, Monday's agreement means only 1,100 acres are subject to some form of environmental restriction." ...
for the complete story
Monday, March 24, 2008
PANYNJ leaseback deal
from this afternoon's GlobeSt (3/24):
Last updated: March 24, 2008 10:49am
Port Authority Cuts $60M Lease Buy-Back Deal
By Eric Peterson
"JERSEY CITY-The Port Authority of NY/NJ has cut a deal to buy back the long-term leasehold of the Northeast Auto-Marine Terminal, involving 119 acres occupied by that facility. The operator is a private company dba Northeast Auto-Marine Terminal, and the deal is valued at $60 million.
What the PA has in mind for the site, surrounding on three sides by water, is to demolish the existing import auto processing center and turn the acreage into a container shipping terminal. PA and state officials say it is part of an effort to prepare the port for the coming expansion of the Panama Canal and an expected influx of new shipping traffic. Combined with ongoing dredging and channel widening, as well as a new rail system, it’s also part of the authority’s 10-year, $2-billion capital improvement plan. " ....
for the complete story
Last updated: March 24, 2008 10:49am
Port Authority Cuts $60M Lease Buy-Back Deal
By Eric Peterson
"JERSEY CITY-The Port Authority of NY/NJ has cut a deal to buy back the long-term leasehold of the Northeast Auto-Marine Terminal, involving 119 acres occupied by that facility. The operator is a private company dba Northeast Auto-Marine Terminal, and the deal is valued at $60 million.
What the PA has in mind for the site, surrounding on three sides by water, is to demolish the existing import auto processing center and turn the acreage into a container shipping terminal. PA and state officials say it is part of an effort to prepare the port for the coming expansion of the Panama Canal and an expected influx of new shipping traffic. Combined with ongoing dredging and channel widening, as well as a new rail system, it’s also part of the authority’s 10-year, $2-billion capital improvement plan. " ....
for the complete story
NOLA hotel nights back to pre-Katrina levels
from the Times Picayune (3/19):
Local hotel occupany is at pre-Katrina levels
But rates are higher, tourism panel told
Friday, March 21, 2008
By Ann Barks
"Hotel occupancy in St. Tammany Parish has leveled off to pre-Katrina levels, according to the St. Tammany Parish Tourist and Convention Commission.
However, because the market has changed since the storm, rates for those hotel and motel rooms are projected to remain higher, in some cases 40 percent more than before the storm. Therefore, the commission is banking that the revenue generated by hotel/motel taxes has stabilized. Its projected 2008-09 budget reflects this expectation. " ...
for the complete story
Local hotel occupany is at pre-Katrina levels
But rates are higher, tourism panel told
Friday, March 21, 2008
By Ann Barks
"Hotel occupancy in St. Tammany Parish has leveled off to pre-Katrina levels, according to the St. Tammany Parish Tourist and Convention Commission.
However, because the market has changed since the storm, rates for those hotel and motel rooms are projected to remain higher, in some cases 40 percent more than before the storm. Therefore, the commission is banking that the revenue generated by hotel/motel taxes has stabilized. Its projected 2008-09 budget reflects this expectation. " ...
for the complete story
Indonesia resort
from todays' Hotels newsfeed (3/24):
Asia Pulse
March 24, 2008 Monday 3:06 PM EST
UAE'S EMAAR CLOSER TO BUILDING BEACH RESORT PROJECT IN LOMBOK
"JAKARTA March 24
United Arab of Emirates property giant Emaar Properties is closer to implementing its resort project in Bali's neighboring island of Lombok after signing a new agreement to establish a joint venture to operate the project. " ...
"Chairman of Emaar Properties Mohamed Ali Alabbar was quoted as saying work will start next month in the project occupying 1,175 hectares of coast land including 7 hectares for a special port, luxurious residential area, and a gold course." ...
for the complete story
Asia Pulse
March 24, 2008 Monday 3:06 PM EST
UAE'S EMAAR CLOSER TO BUILDING BEACH RESORT PROJECT IN LOMBOK
"JAKARTA March 24
United Arab of Emirates property giant Emaar Properties is closer to implementing its resort project in Bali's neighboring island of Lombok after signing a new agreement to establish a joint venture to operate the project. " ...
"Chairman of Emaar Properties Mohamed Ali Alabbar was quoted as saying work will start next month in the project occupying 1,175 hectares of coast land including 7 hectares for a special port, luxurious residential area, and a gold course." ...
for the complete story
Deloitte on China's hotel future
from today's STR & The Bench newsfeed (3/24):
A Year Full Of Promise For China's Hotels
Deloitte Reports
"19 March 2008 | With a strong economy, massive inward investment, a newly-mobile middle class and one of the biggest fixtures in world of sport just months away, China’s influence on world tourism is going to become more and more significant.
Government investment in tourism infrastructure is already paying off, and despite some well-publicised criticism of China’s stance on human rights in the run up to the Olympics, the outlook for 2008 – the year of the rat – looks excellent.
The country’s GDP - at 10% - is still more than double the global average, and analysts expect the economy to remain buoyant.
According to Hotelbenchmark Survey by Deloitte, China’s hotel operators managed to increase revPAR by 3.2% - to US$86 - during 2007, with occupancy at 67.9%. Secondary* cities did best with revPAR growth of 6.9%, compared to 4.0% in primary locations. Primary* locations with more than 5m inhabitants did not perform as well as secondary cities and now operators are hoping that recent investments, increased tourism and the Olympic effect will help them achieve sustainable growth in both occupancy and revenue per available room (revPAR)."
for the complete story
A Year Full Of Promise For China's Hotels
Deloitte Reports
"19 March 2008 | With a strong economy, massive inward investment, a newly-mobile middle class and one of the biggest fixtures in world of sport just months away, China’s influence on world tourism is going to become more and more significant.
Government investment in tourism infrastructure is already paying off, and despite some well-publicised criticism of China’s stance on human rights in the run up to the Olympics, the outlook for 2008 – the year of the rat – looks excellent.
The country’s GDP - at 10% - is still more than double the global average, and analysts expect the economy to remain buoyant.
According to Hotelbenchmark Survey by Deloitte, China’s hotel operators managed to increase revPAR by 3.2% - to US$86 - during 2007, with occupancy at 67.9%. Secondary* cities did best with revPAR growth of 6.9%, compared to 4.0% in primary locations. Primary* locations with more than 5m inhabitants did not perform as well as secondary cities and now operators are hoping that recent investments, increased tourism and the Olympic effect will help them achieve sustainable growth in both occupancy and revenue per available room (revPAR)."
for the complete story
San Diego Padres ticket sales down
from today's San Diego Business Journal (3/24):
Posted date: 3/24/2008
Padres Tickets Not a Big Hit Anymore
But for Some Firms, Season Seats Lead to Home Runs With Clients
By MIKE ALLEN
"Jeff Overton, executive vice president of business services for the San Diego Padres, expects to sell more than 16,000 season tickets this year.
Despite an 11 percent decline in 2008 season ticket sales as of last week, executives for the San Diego Padres aren’t panicking about meeting their sales goals." ...
"At the end of 2007, the Padres had the equivalent of 16,515 season ticket holders. The number includes partial season ticket packages that add up to 81 home games in addition to full season tickets. As of March 18, the number of full season equivalent seats sold for 2008 was 14,720." ...
for the complete story
Posted date: 3/24/2008
Padres Tickets Not a Big Hit Anymore
But for Some Firms, Season Seats Lead to Home Runs With Clients
By MIKE ALLEN
"Jeff Overton, executive vice president of business services for the San Diego Padres, expects to sell more than 16,000 season tickets this year.
Despite an 11 percent decline in 2008 season ticket sales as of last week, executives for the San Diego Padres aren’t panicking about meeting their sales goals." ...
"At the end of 2007, the Padres had the equivalent of 16,515 season ticket holders. The number includes partial season ticket packages that add up to 81 home games in addition to full season tickets. As of March 18, the number of full season equivalent seats sold for 2008 was 14,720." ...
for the complete story
San Diego (City) returns to bond market
from today's San Diego Business Journal (3/24):
Posted date: 3/24/2008
City on Road Back to Bond Market
"The city of San Diego has received an auditor’s opinion for its 2006 fiscal year, clearing the way for the city to re-enter the municipal bond market, it said March 23.
Mayor Jerry Sanders says the city plans to submit the audited financial statements to the City Council, and notify the three Wall Street credit rating agencies in hopes of securing favorable ratings and return to issuing tax-free bonds to help finance delayed capital improvement projects." ...
for the complete story
Posted date: 3/24/2008
City on Road Back to Bond Market
"The city of San Diego has received an auditor’s opinion for its 2006 fiscal year, clearing the way for the city to re-enter the municipal bond market, it said March 23.
Mayor Jerry Sanders says the city plans to submit the audited financial statements to the City Council, and notify the three Wall Street credit rating agencies in hopes of securing favorable ratings and return to issuing tax-free bonds to help finance delayed capital improvement projects." ...
for the complete story
WalMart and Chicago
from today's Crain's Chicago Business (3/24):
Wal-Mart rolls back city expansion plans
By: Monée Fields-White March 24, 2008
"A shifting political landscape has upended Wal-Mart Stores Inc.'s expansion plans in Chicago.
The retailer has suffered a series of setbacks in Chicago after its City Council allies in 2006 narrowly defeated a proposed law that would have required it to pay higher wages. Mayor Richard M. Daley's recent rejection of a Wal-Mart store in Chatham has only added to the Bentonville, Ark., company's woes." ....
[includes a ncie timeline of Wal-Mart/Cichago interactions]
for the complete story
Wal-Mart rolls back city expansion plans
By: Monée Fields-White March 24, 2008
"A shifting political landscape has upended Wal-Mart Stores Inc.'s expansion plans in Chicago.
The retailer has suffered a series of setbacks in Chicago after its City Council allies in 2006 narrowly defeated a proposed law that would have required it to pay higher wages. Mayor Richard M. Daley's recent rejection of a Wal-Mart store in Chatham has only added to the Bentonville, Ark., company's woes." ....
[includes a ncie timeline of Wal-Mart/Cichago interactions]
for the complete story
Friday, March 21, 2008
Voluntourism at the Ritz Carlton
from USA Today (3/20):
New Ritz-Carlton amenity: Charitable work
By Kitty Bean Yancey, USA TODAY
Guests go to a luxury hotel to be pampered. Starting April 1, Ritz-Carltons will have "them planting trees, protecting endangered species and preparing food for the needy — and paying for the privilege.
The Ritz-Carlton's chainwide "Give Back Getaways," billed as a first for a hotel company, will offer guests "a chance to partner with us in making a difference," says Sue Stephenson, the Ritz "social responsibility" chief who proposed the program and is overseeing it.
"Voluntourism" is now a travel buzzword, and "even the luxury consumer is philanthropic," she says. "It gives them the opportunity to feel they've done something … touched the community where they're staying, and have the pampering and luxury, too." ...
for the complete story
New Ritz-Carlton amenity: Charitable work
By Kitty Bean Yancey, USA TODAY
Guests go to a luxury hotel to be pampered. Starting April 1, Ritz-Carltons will have "them planting trees, protecting endangered species and preparing food for the needy — and paying for the privilege.
The Ritz-Carlton's chainwide "Give Back Getaways," billed as a first for a hotel company, will offer guests "a chance to partner with us in making a difference," says Sue Stephenson, the Ritz "social responsibility" chief who proposed the program and is overseeing it.
"Voluntourism" is now a travel buzzword, and "even the luxury consumer is philanthropic," she says. "It gives them the opportunity to feel they've done something … touched the community where they're staying, and have the pampering and luxury, too." ...
for the complete story
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