Hotel news

[cybele]

I hate to start a thread with bad news but I suspect a lot of companies in the hospitality industry are feeling the pain.

CoStar reports that Deloitte has raised doubts over Atlanta-based Lodgian's ability to continue as a going concern.

Lodgian Hotels Facing $128M in Maturing Debt, Survival in Doubt

[ATLaffinity]

i'd be curious to see if the Palomar has to give in on rates from day 1.

Palomar and the 3 Ws all opened within about a year. All after the same market.

[trainiac]

Originally Posted by ATLaffinity

i'd be curious to see if the Palomar has to give in on rates from day 1.

Palomar and the 3 Ws all opened within about a year. All after the same market.

I should have taken a picture, but the street level parts of Palomar are getting finished and look pretty sharp. I wonder if they'll get alot of business from the shoe models on the other half of the block?

[dirtybird]

Originally Posted by ATLaffinity

i'd be curious to see if the Palomar has to give in on rates from day 1.

Since they already have a 20% off Grand Opening special (which is typical of new hotels), it's hard to tell if the economy was a factor.

[cybele]

How are boutique hotels like the Glenn and the Ellis doing?

[Atlwest281]

From all I can tell the Ellis is a success. All the reviews have been good and its a great deal for the buck, the Glenn has fallen on a few issues which will be sorted out shortly with Amick opening 2 new resturant/bars there.

[trainiac]

Originally Posted by Atlwest281

From all I can tell the Ellis is a success. All the reviews have been good and its a great deal for the buck, the Glenn has fallen on a few issues which will be sorted out shortly with Amick opening 2 new resturant/bars there.

That rooftop bar is spectacular. I've been up there at least once for each incarnation. Killer views from every side.

[cybele]

I remember being summoned to a meeting in the Glenn Building many years ago. All I had was a name of some company and a suite number up on the fifth floor. The place was pretty much abandoned and an old security guard let me in. The elevator wasn't working so I had to walk up. There was nobody on the whole floor. I walked down the the hallway to the suite number and the door was unlocked, so I stepped in, but there were no lights on and nobody was there. I hate to be a scaredy-cat but I suddenly got a really creepy feeling and ran out of there as fast as I could go. There was probably nothing to it but it sure seemed odd. I never have known what that was about but I still cross over to the other side of the street when I go by there even today.

[cybele]

Happened to be passing by Lenox the other day and noticed that extensive renovations to the Sheraton Buckhead are under way. Should be a nice upgrade.

[atlantaguy]

Originally Posted by cybele

Happened to be passing by Lenox the other day and noticed that extensive renovations to the Sheraton Buckhead are under way. Should be a nice upgrade.

Yep - This is the beginning of its coversion to the new Marriott Buckhead & Conference Center.

[trainiac]

Here's the new streetscape for the Palomar



Here's the view across W. Peachtree. That building with the scooter store was vacant for a while -- one of the old tenants was a travel agency that left their window signs up for years: CRUISES AMTRAK. Wow, sign me up



You know, it's about time for somebody to rent out the old Thad and Joes spot just up the street (the dark brown building next door)

[cybele]

If you are looking for a B&B the Beverly Hills Inn is not bad. It's in one of those old 1920s apartment buildings in Buckhead. Some friends of ours stayed there last fall and really liked it.

[cybele]

Well we were at Lenox Square the other day and that new Marriott Hotel across the street seems to be coming right along. It looks good from the outside. There's supposed to be a Shula's Steak House opening there, too.

[cybele]

Well who ever heard of an ice skating rink at a hotel but I guess Atlanta is getting a little big for its britches.

http://www.youtube.com/watch?v=-2N8KzBnvkg

[Pompuss]

Does anyone know if they have started construction on the "double hotel" (Homewood Suites and ?) at 10th Street? or at least when they will?

[micropundit]

It looks like the Hotel Indigo in the former Carnegie Building will open in June.
http://www.ichotelsgroup.com/h/d/in/...otelCode=ATLIN

[smArTaLlone]

According to the "what now atlanta" blog, the Renaissance Hotel Downtown will close on November 1, 2010 and will transfer ownership to an unnamed REIT.

"Marriott insiders suggest that a Marriott real estate partner had a bid out on a piece of land near Centennial Olympic Park with the intention of building a brand new Renaissance, which is of course on hold due to economic conditions."

[cybele]

Well I see where Lodgian has agreed to be bought out by some outfit in Dallas for $2.50 a share.

Lodgian buyout offer causes controversy

[cybele]

Well you would think people would be snapping these condos up right and left but I guess it's like everything else, there's no money.

$400 million loan auction endangers W, small banks

Barry Real Estate has closed upon just one of the 74 condos in the tower. The W hotel and the new BLT Steak restaurant have held up relatively well, but have still been affected by the economy.

“We suspect the loan is going to be in the package that gets auctioned off,” said Barry Real Estate founder Hal Barry. “Whomever buys it, we’ll work with them. It’s a great asset. We’re at peace with what we’ve got there. The timing could not have been worse.”

In recent months, the FDIC has been more aggressive in disposing of troubled assets, including the failed [CompanyWatch allows you to receive email alerts with stories related to your companies of interest. <p>You can watch up to ten companies at a time.</p>] Corus Bank portfolio of high-rise condos in Atlanta and other major cities.

That aggressive stance has frustrated some developers, who say the FDIC is failing to consider the long-term outlook on many of the projects and their importance for economic development.

“We are concerned,” Barry CEO Chris Schoen said. “Any buyer that comes in will realize our commitment to Allen Plaza. They will see what Allen Plaza means to the W hotel, and what the W hotel means to Allen Plaza and downtown.”

[cybele]

Well I don't know if this is good or bad.

W Downtown Atlanta to be auctioned