Search

×

Briefs: US$800M for Vegas shooting victims | Meadowood: ‘We will recover’

Judge approves settlement for Vegas victims: A judge in Nevada approved a total of US$800 million in payouts from casino company MGM Resorts International and its insurers to more than 4,400 relatives and victims of the Las Vegas Strip shooting, the deadliest in recent U.S. history. The deal, announced last month, settles dozens of lawsuits on the eve of the third anniversary of the shooting that killed 58 people and injured more than 850 in a crowd of 22,000 at an open-air concert near the Mandalay Bay resort.

Read more 

Chicago investor acquires Troon’s: Chicago-based real estate developer AJ Capital Partners bought its third Scottish golf property — the Marine Hotel in Troon — with plans to renovate and reopen it as part of the new Marine & Lawn Collection launching in 2021. AJ will add the 89-bed hotel along the Ayrshire Coast to a growing portfolio that includes Rusacks St Andrews and the Marine North Berwick.

Read more

Meadowood Resort will forge on after fire: A hotel that received extensive damage during the recent fires that swept through Napa Valley will attempt to rebuild, according to a message posted on the hotel’s LinkedIn page. “Together with our friends and neighbors, we will recover, rebuilding upon the traditions of the past to ensure an even brighter future for the Napa Valley,” stated the post on the Meadowood Resort’s page.

Read more

Ashford increases loan forbearance: Dallas-based Ashford Hospitality Trust signed forbearance agreements on its KEYS Loan Pools representing 34 hotels and approximately US$1.2 billion of debt. The forbearance agreements allow the company to defer interest on the loans for six months. Additionally, the agreements allow Ashford to utilize lender- and manager-held reserve accounts, which are included in restricted cash on the company’s balance sheet, to fund operating shortfalls. Ashford now has loan forbearance or modification agreements in place for 61 properties, representing approximately 69% of its current outstanding mortgage debt balance.

No meat for a year: Hong Kong-based Ovolo Hotels announced that all of its restaurants and bars across Australia and Hong Kong will go completely vegetarian for the next year. The initiative, called “The Year of the Veg,” follows several other eco-friendly initiatives already implemented by the hotel collection in the past year. These include elimination of all single-use plastic bathroom amenities and making use of re-fillable, tamper-free recyclable pump bottles.

Banyan Tree expands into Indonesia: Singapore-based Banyan Tree Group extended its multi-brand presence in Indonesia. The group has a total of five new hotels in its pipeline: Banyan Tree Nipah, Lombok; Angsana Saranam, Bali; and the group’s new brand extension Banyan Tree Escape with potentially three hideaway resorts in the pipeline, in the provinces of Bali, West Nusa Tenggara and North Sumatra.

Sonesta in New Jersey: Newton, Massachusetts-based Sonesta International Hotels Corp. has a new branded and managed hotel in New Jersey — the Sonesta Hamilton Park Morristown Hotel & Conference Center. Formerly the Wyndham Hamilton Park Hotel, the property has a fitness center, indoor and outdoor heated swimming pools, and 32,000 square feet of meeting and event space. Food and beverage options include a coffee and wine bar, lounge, and restaurant.

Chesapeake managing Hotel Marcel: Chesapeake Hospitality, a third-party hotel management company based in Greenbelt, Maryland, will manage the 165-room boutique Hotel Marcel, a redevelopment project currently underway in New Haven, Connecticut. The historic rehabilitation and adaptive reuse project is led by owner, developer and architect Bruce Becker. The project is expected to be open for guests during the summer of 2021.

Comment