Work continues on Homewood Suites in Chesterfieldis continuing on a $13 million Homewood Suites hotel in Chesterfield, Mo., and is slated for completion in early-2000. The three-story, 145-room facility is being developed by St. Louis-based Sachs Properties.
The 98,000 sq. ft. hotel will be located at Chesterfield Village and is designed to blend in with its adjoining residential neighborhood. Features of the facility will include a 1,200 sq. ft. meeting room, a 500 sq. ft. board room, an outdoor pool and a fully-equipped exercise room.
Plans for Westin hotel in San Diego unveiled Burnham Development Group of Battle Creek, Mich., has unveiled design plans for a four-star, hotel and tower - which will operate under the Westin flag - in San Diego's East Village Redevelop-ment district. The 26-block area - which includes more than $1.2 billion in private office, retail and hotel development, as well as a proposed 46,000-seat ballpark - is currently undergoing renovation.
The 33-story, 500-room hotel will feature a six-story banquet and convention wing with 19,700 sq. ft. of meeting and event space, as well as a 13,000 sq. ft. rooftop terrace complete with pool. Additionally, 38 condominiums will be located on the top 11 floors of the main tower.
Construction of the hotel is expected to begin by second-quarter 2000, with completion slated for April 2002.
Liberty Mortgage provides funding for Louisiana Holiday Inn-based Liberty Mort-gage Acceptance Corp. has funded a $4.2 million mortgage on a 152-room Holiday Inn in Sulphur, La. The company originated and funded the permanent mortgage financing with a 10-year term and a fixed rate of 9.125% over 25 years.
Located at 2033 Ruth Street, the hotel is a mid-scale, full-service, two-story building including amenities such as meeting space for up to 200 people, a restaurant and lounge, swimming pool, and exercise room.
Jones Lang LaSalle Hotels arranges sale of Hotel Nikko Jones Lang LaSalle Hotels has arranged the sale of The Hotel Nikko at Beverly Hills to Le Meridien Hotels for $82.3 million. According to the New York-based company, the transaction boasted one of the highest prices ever commanded for a Los Angeles hotel.
Built in 1991, The Hotel Nikko at Beverly Hills is a 297-room, luxury property located at 465 South La Cienega Blvd.
Choice unveils Sleep Inn & Suites prototype Silver Springs, Md.-based Choice Hotels International has unveiled a Sleep Inn & Suites prototype designed to capture the growing number of business and leisure travelers who want additional room on the road.
The new design requires that a minimum of 10% of rooms at Sleep Inns be designed as suites. Additionally, pools, exercise facilities and meeting and hospitality rooms - currently recommended at all Sleep Inns - will be required at all Sleep Inn & Suites. Sleep Inn & Suites will offer additional amenities such as in-room coffee makers, irons and ironing boards, refrigerators, voicemail and dual-line capabilities.
There are four Sleep Inn & Suites under construction in the United States: two in North Carolina, one in Maryland and one in Nebraska.
Sonnenblick-Goldman arranges financing for Maui resort Sonnenblick-Goldman Co., a New York-based real estate financial services company, has arranged financing for the $90 million Kea Lani Hotel Suites & Villas in Wailea, Maui, Hawaii.
Completed in 1991, the 450-suite hotel - which includes 37 two- and three-bedroom villas - occupies a beachfront location on the southwest shore of Maui. The resort features amenities such as four restaurants, three cocktail lounges, three outdoor lagoon-style swimming pools, 34,100 sq. ft. of meeting space, and a spa and fitness center.
Bass Hotels & Resorts signs agreement with AOL Making reservations to more than 2,700 Bass Hotels & Resorts can now be done online through America Online's Business Travel Center, part of Dulles, Va.-based AOL's Travel Channel. The agreement provides AOL users with up-to-date information on the entire Atlanta-based Bass Hotels & Resorts line of hotels.
The Travel Center, located at the AOL keyword: "business travel," provides consumers with information on schedules, prices, special promotions and online booking.
In the second edition of "Hotel Investments: Issues and Perspectives - published by the Educational Institute of the American Hotel & Motel Association - industry experts share ideas for maximizing hotel investment performance.
Edited by Lori E. Raleigh, president of The Travers Group, and Rachel J. Roginsky, Principal, Pinnacle Advisory Group, this edition features new topic such as a Wall Street perspective, REITs and hotel valuation tools. Other topoics include leveraging customer equity in the hotel industry, franchising, legal consideration for hotel lenders and managing technology.
More information about the book can be found on the Institute's Website, www.ei-ahma.org, or by calling (800) 752-4576.