Netherlands-based premium economy hotel chain citizenM is slated to open a new 228-key location in DC’s Georgetown, according to Donohoe. The plans indicate that the new seven-story hotel at 3401 Water Street NW (aka 3401 K Street NW) will incorporate … Continue reading →
The rise in remote work, the resurgence of air travel, inflation-driven price-consciousness, government funding for infrastructure projects and higher labor costs for full-service hotels have contributed to an increase in demand for extended-stay hotels. In response, many of the major … Continue reading →
In November 2022, Reuters reported that The Trump Organization has partnered with Saudi developer Dar Al Arkan, to license the Trump Brand to a $4 billion project in Oman that includes a golf course, hotel and villas. Named AIDA, the … Continue reading →
A CRE CLO (commercial real estate collateralized loan obligation) is a securitization vehicle the underlying assets of which are short-term (usually three to five years), floating-rate loans collateralized by transitional properties. CRE CLOs are actively managed by an asset manager … Continue reading →
A law passed in 2019 (Va. Code § 58.1-4100 et. seq.) allows for up to five brick-and-mortar casinos in Virginia. In November 2020, voters approved casinos in Bristol (Hard Rock), Danville (Caesars), Norfolk (Pamunkey) and Portsmouth (Rivers), according to 500 … Continue reading →
Inflation in Morocco is expected to reach 6.6 percent this year, according to Reuters. The Bank Al-Maghrib (“BAM”), Morocco’s central bank, raised its benchmark interest rate today by 50 basis points to 2.5 percent in an effort to control inflation, … Continue reading →
Adaptive reuse is the process of taking an existing structure and adapting it for a new use. During 2020-2021, DC opened a total of 1,565 apartments by adaptive reuse, surpassing all other cities and accounting for 5.6 percent of the … Continue reading →
British multinational hospitality company IHG announced today that it is “in the process of ceasing all operations in Russia consistent with evolving UK, US and EU sanction regimes and the ongoing and increasing challenges of operating there.” The company had … Continue reading →
Miami-based CGI Merchant Group is in contract to acquire the 263-room luxury hotel lease for $375 million, according to The Wall Street Journal. In 2012, the U.S. government awarded a sixty-year lease (with two, twenty-year renewal options) of the Old … Continue reading →
According to a Reuters analysis of federal data, of the 378 metropolitan areas ranked by the change in their share of national employment from 2010 to 2017, 40 percent of the new jobs generated during that time (along with a … Continue reading →