March 15, 2002 NEW YORK – Moody's Investors Service has downgraded Hilton Hotels Pool Trust, 2000-HLT, because its collateral pool has seen a decline in performance. The rating agency said that using adjusted cash flow and capitalization rates, the deal's ...
March 15, 2002 LAS VEGAS – Elsinore Corp. (OTC BB:ELSO) has agreed to sell its Four Queens Hotel & Casino for $22 million to SummerGate Inc.Since the 690-key hotel-casino is Elsinore's only operating asset, the company plans to dissolve after ...
March 14, 2002 LAS VEGAS – Park Place Entertainment Corp. (NYSE:PPE) has named Harry C. Hagerty as its new chief financial officer, effective March 25.Hagerty replaces former CFO Scott LaPorta, who left the company in January. Hagerty has 17 years ...
March 12, 2002 NEW YORK – Standard & Poor's has upgraded Chase Commercial Mortgage Securities Corp., 1998-C2, because of the deal's improved debt service coverage ratio.The collateral pool has shrunk to $1.2 billion from $1.3 billion at issuance. But debt ...
March 12, 2002 U.K. hotel company Thistle Hotels PLC has agreed to sell 37 hotels – 31 regional and six in London – for 600.4 million pounds ($850 million) in cash. The deal will also take out 555.4 million pounds ...
March 12, 2002 PITTSBURGH – Shaner Hotel Group, a major shareholder of Interstate Hotels (Nasdaq:IHCO), has upped its bid for a controlling stake in Interstate with an all-cash offer of $40 million.Shaner, which has been looking to buy Interstate since ...
The San Diego Convention Center, which late last year was nearly doubled in size, is itching to get a 1,200-room hotel built next to it. Four teams have lined up for that right. A winner should be selected by May.
March 6, 2002 Commercial Real Estate Direct Staff ReportBETHESDA, Md. – Host Marriott Corp.'s (NYSE:HMT) revenue per available room for the fourth quarter 2001 declined 28.3 percent while operating profit margins declined by 5 percentage points.The RevPAR decline was driven ...
March 5, 2002 KYOTO, Japan – Starwood Hotels and Resorts Worldwide Inc. (NYSE:HOT) and Kintetsu Hotel Systems have agreed to rebrand the Miyako Hotel as The Westin Miyako, effective April 1.The historic 110-year old Kyoto hotel is a city landmark. ...
March 5, 2002 LAS VEGAS – Aztar Corp. (NYSE:AZR) has completed its $166.5 million purchase of the Tropicana Resort and Casino.The Phoenix-based company paid $117.5 million and assumed $49 million of existing debt for the half interest it did not ...
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