There's no place like Oswego for Lodgian Atlanta-based Lodgian Inc. has opened the Hilton Garden Inn Portland/Lake Oswego in Lake Oswego, Ore. Located eight miles south of downtown Portland, Ore., the hotel will be operated under an agreement between a subsidiary of Lodgian and Hilton Inns., Inc., a subsidiary of Beverly Hills, Calif.-based Hilton Hilton Hotels Corp.
Features of the property include 181 rooms - each equipped with dual phone lines and voicemail - as well as in-room Internet access in every room. The property also features an indoor pool, a fitness center, a 24-hour business center and two meeting rooms. Executives at Hilton expect this hotel will attract a mix of both business and leisure travelers.
All fingers "Pointe" to Anaheim for hotels Minneapolis-based M.A. Mor-tenson and Irvine, Calif-based MBK, will be the lead design-build team on a $500 million mixed-use entertainment, retail and hospitality project being planned in Anaheim, Calif. Construction on Pointe* Anaheim, which is adjacent to Disneyland, is scheduled to begin in the fall, with completion slated for spring 2003.
The 3.5 million sq. ft. complex will include three hotels, totaling 1,050 rooms and suites; three live theaters with a combined 4,600 seats; and approximately 565,000 sq. ft. of specialty retail, restaurants and nightclubs. The resort will also feature more than five acres of landscaped grounds and a parking structure for 5,000 vehicles.
According to MBK executives, this is the largest private-build contract ever awarded for an entertainment value.
Also in Anaheim, Irvine, Calif.-based R.D. Olsonhas sold six acres of land in the Anaheim Resort Zone for $7.1 million to Bass Hotels & Resorts of Britain. R.D. Olson is also under contract with Bass to develop a $42 million resort, scheduled to break ground this June with completion expected in July 2001.
The 258,000 sq. ft. resort complex will be home to a seven-story, 143 Staybridge Suites and a nine-story, 264-room Holiday Inn, both owned and operated by Bass. The two towers will feature conference rooms, swimming pools, spas and water towers.
Tishman, ING Realty reflag Los Angeles hotel Lake Buena Vista, Fla.-based Tishman Hotel Corp., affiliates of New York-based Tishman Realty Corp. and ING Realty Partners LP have purchased, renovated, repositioned and re-branded a major Los Angeles hotel. The newly flagged facility has begun operations as the Four Points Hotel Los Angeles International Airport.
Formerly the Continental Plaza, the Four Points Hotel Los Angeles International Airport underwent a $17 million renovation that included two-thirds of the hotel's rooms and public spaces. Renovation of the remaining rooms is ongoing, with completion expected this spring. The $27 million acquisition and construction loan - which covered the entire renovation - was provided by KBC Bank NV.
The hotel features 14,860 sq. ft. of function space, accommodating as many as 1,400 attendees, and includes two ballrooms, 15 meeting rooms, an outdoor reception area, a pool, several dining rooms and two restaurants. Additional features include a fitness center, on-site car rental and a 24-hour business center.
MGM Grand acquires Mirage Resorts In avalued at nearly $4.4 billion, Las Vegas-based MGM Grand has acquired Las Vegas-based Mirage Resorts Inc. The deal was approved by both Boards of Directors, with MGM Grand acquiring all of Mirage's outstanding shares for $21 apiece. In addition, MGM Grand will assume the outstanding debt of Mirage Resorts, which totals $2 billion.
MGM Grand executives are hoping to achieve significant cost savings through the merger by eliminating duplicate facilities and functions. Upon completion of the merger, expected in the fourth-quarter, the company will own and operate more than 14 resorts.