Pinstripes — a restaurant-and-entertainment chain offering dining, bowling and bocce — has closed more than half its locations and filed for bankruptcy, citing inflationary pressures and consumers cutting back spending.
Seaport Entertainment Group, whose portfolio is anchored by retail, restaurant and entertainment venues in lower Manhattan’s Seaport neighborhood, has promoted its finance chief as president and chief executive officer.
Real estate investment firms Trinity Investments and Certares Real Estate Management have sold the 352-room lifestyle hotel EAST Miami to Blackstone Real Estate.
As an intern in the late 1970s for then-San Francisco Mayor Dianne Feinstein's Office of Economic Development, Barbara Morrison was tapped to implement a federal loan program to help small businesses buy commercial real estate. She loved the program, but “the politics and bureaucracy” that came with working for the city “drove me around the bend," she told CoStar News.
GFI Real Estate is in negotiations to refinance debt on its Hotel Seville NoMad property in New York through a $60 million land sale-leaseback transaction and potential bond issuance.
Potbelly is getting bought by convenience store operator RaceTrac in a roughly $566 million deal as the sandwich shop chain looks to accelerate its growth from 445 to 2,000 locations.
Visitor taxes, tourism levies, bed taxes, call them what you will, are spreading around the world as surely as the tourists themselves, with similarly mixed reactions.
Third-party hotel management companies play an integral role in the guest experience, and taking note of what they do well and not so well in regard to guest satisfaction can aid the evolution of their operations.
NASHVILLE, Tennessee — With economic and financial market conditions stymying both new hotel development and transactions, many hotel owners have focused on conversions to revamp their portfolios.
This morning, Hines, an international investor, developer and property manager, finalized the sale of a trophy asset located at 223 rue Saint-Honoré, in the 1st arrondissement of Paris. This mixed-use complex covering more than 3,600 m² was acquired by Pontegadea, Amancio Ortega's investment vehicle, which, as reported by Business Immo on 15 July, has been investing heavily in Parisian real estate for several months.
Toronto-based Hennick Group struck a deal to acquire the retail portion of the luxury Mandarin Oriental Hotel along Boylston Street in Boston for US$83.3 million.