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MCR, Island Capital close $260M refi for Sheraton New York Times Square

Hotel Business

MCR Hotels and Island Capital Group (Island) have closed on a $260-million refinancing loan for the 1,780-key Sheraton New York Times Square. The new financing was provided by funds managed by affiliates of Fortress Investment Group LLC. The JLL team was led by Davis, Managing Director Mark Fisher and Analyst Russell Freed.

Closing 64
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Hotels can take a page from retail to beat the competition

Hotel Business

Where the retail sector could reinvent itself as “digital-first” through new services like eCommerce, curbside pickup or repurposing physical stores as socially distanced distribution centers, the travel sector, by its nature, relies on physical footfall. it can be a much more complex experience to manage. In closing.

Retail 59
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JLL closes $55M sale of six Hyatt Place hotels

Hotel Business

JLL ’s Hotels & Hospitality Group has closed the $55-million sale of six Hyatt Place-branded select-service hotels totaling 754-keys across the Southeast, Texas and Kansas. The properties were offered unencumbered by management and with long-term Hyatt franchise agreements. HKB was advised by ThornOak Capital.

Closing 52
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Overcome Hotel Turnover and Improve Morale With Better Shift Coordination

Hospitality Net

Hotel managers have a thorny challenge to solve: they must ensure exceptional guest service, while dealing with staff scheduling challenges and punishing turnover. While other service businesses like restaurants and retail stores close after business hours, hotels are always open.

Retail 100
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Quest opens new-build hotel in billion-dollar Sutherland Shire precinct

Hotel Management

Located within Woolooware Bay Town Centre – a precinct that includes a shopping centre, waterfront parklands, a shared pedestrian/cycle path, outdoor fitness zones and children’s playground – Quest Woolooware Bay is close to the ocean, golf courses and PointsBet Stadium.

Shopping 279
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Marriott signs new-build Westin hotel at site of Adelaide’s historic Freemasons Hall

Hotel Management

An artist’s impression of 33-floor contemporary tower that will house The Westin Adelaide The project sees the hotel span 19 levels of the contemporary tower, alongside a Freemasons Hall and Grand Lodge, retail outlets, office tenancies, rooftop restaurant and observatory.

Hotels 278
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Exclusive: Radisson development boss Ramzy Fenianos talks SEAP growth strategy

Hotel Management

Our growth strategy is asset-right, across leased, franchised and managed business models and we’ve also been seeing more opportunities for conversion projects. We’ve also added local language capabilities and local management offices to better serve our owners in each market.

Pipeline 264