June 18, 2007

Hotel Lawyer: Get on your feet! Lifestyle and mixed-use resorts getting a boost from Latin pop stars Gloria and Emilio Estefan with a new development in Vero Beach, Florida.

by the JMBM Global Hospitality Group®

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By Jim Butler, Hotel Lawyer | Author of www.HotelLawBlog.com
18 June 2007

Hotel Lawyer in Florida. While Gloria Estefan's fans are anticipating the September 2007 release of her new Spanish-language album, 90 Millas, featuring original music inspired by her native Cuba -- the hotel industry is eagerly awaiting the opening of her new luxury resort, Costa d'Este in Vero Beach, Florida. Gloria and Emilio Estefan are not new to the hospitality industry -- they currently own 5 Cuban restaurants in Florida and Mexico, and the Cardozo Hotel in Miami. Their new mixed-use resort will include 94 hotel rooms, meeting space, a restaurant and spa. The resort is scheduled to open in January 2008, according to Benchmark Hospitality International, which will manage the property.

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June 14, 2007

Breaking news for "lifestyle" hotels. The Ian Schrager and Bill Marriott "marriage" -- Will it lead to eternal bliss or end in divorce?

by the JMBM Global Hospitality Group®

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By Jim Butler, Hotel Lawyer | Author of www.HotelLawBlog.com
14 June 2007

Hotel Lawyer on the Schrager-Marriott marriage and its impact on lifestyle hotels. One of my steady themes here at www.HotelLawBlog.com, is that lifestyle hotels are the hottest thing going in new hotel development, particularly hotel mixed-use. (See, for example, "The new "LIFESTYLE" hotel brands are changing the hotel industry and hotel mixed-use.") But at a press conference held on the roof of Schrager's Gramercy Park Hotel in Manhattan at 10:00 am on June 14, 2007, Bill Marriott (chairman and CEO of Marriott International) and Ian Schrager (the founder of Ian Schrager Hotels, now known as "Morgans Hotels") surprised most of the hotel industry with their news. Marriott (age 75) and Schrager (now 60) announced formal plans to partner in the creation of a new lifestyle boutique hotel brand. The as-yet-unnamed-brand will provide the high-design, boutique, lifestyle product that Schrager invented, with Marriott's world-class hotel operating resources and development support.

For several years, industry experts have wondered how Marriott International could surrender leadership in the lifestyle boutique area to Starwood's W brand, which some call a knockoff of Schrager's original concept. Only half in jest, some predicted that Marriott would spawn a similarly hip "M" brand (which looks a lot like a "W" turned over). If Marriott is to reclaim its share of this exploding lifestyle segment, it clearly needed to move quickly to make up for lost time. But many think the marriage of Ian Schrager and Bill Marriott is doomed to an early divorce, if it even makes it to the conjugal bed. Doubtful pundits cite fundamental incompatibilities of style and approach. Meanwhile, Schrager and Marriott are projecting that at least five firm development deals will be signed for the new brand before 2008, and are looking for more than 100 hotels to be open within a decade.

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June 11, 2007

Hotel Lawyer on developing GREEN hotels. Don't wait for the GREEN. It is here. First LEED Gold Certified hotel in U.S. is announced.

by the JMBM Global Hospitality Group®

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By Jim Butler, Hotel Lawyer | Author of www.HotelLawBlog.com
11 June 2007

Hotel Lawyer on developing GREEN hotels. An exciting new benchmark has been set in the hospitality industry. The Gaia Napa Valley Hotel and Spa has received the prestigious LEED Gold certification! This is the first time that the United States Green Building Council (USGBC) has awarded "LEED Gold" to a hotel. It marks a sea change. It is the first, but won't be the last. In fact, get ready to ride the new wave or drown in the lost opportunity.

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June 3, 2007

Hotel Lawyer in New York with a forecast of "sunny skies" for the hotel industry.

by the JMBM Global Hospitality Group®

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By Jim Butler, Hotel Lawyer | Author of www.HotelLawBlog.com
3 June 2007


Hotel Lawyer in New York at the Hotel Investment Conference. It is Sunday night, June 3, 2007, and the New York Hotel Investment Conference is officially under way with its gala reception. It boasts an all time record number of attendees, which always signals good times in the hotel industry. And although the weather in Manhattan tonight involves a lot of rain, it is not dampening this parade!

We had a bit of a prelude to the investment conference at the Lodging Industry Investment Council (LIIC), the hospitality industry think tank, session before the party got under way, and Mark Lomanno, President of Smith Travel Research gave us some very encouraging news. I think you are going to like this and the statistics that under pin his analysis. Listen to this . . .

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June 2, 2007

Hotel Lawyer: What's happening to hotel cap rates and values? What are the largest hotel sales? Who are the biggest hotel buyers?

by the JMBM Global Hospitality Group®

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By Jim Butler, Hotel Lawyer | Author of www.HotelLawBlog.com
2 June 2007

Hotel Lawyer on hotel sales, values, buyers and cap rates -- reporting from Meet the Money® hotel financing conference. If you are buying or selling hotels, or looking for hotel financing, you have to be interested in today's posting. This is all about hotel cap rates and values, and the biggest hotel sales as well as the biggest buyers in the recent times. All this information was provided to the crowd attending Meet the Money® a few weeks ago by Suzanne Mellen of HVS International. There is some great information here, that belongs with the other classics on www.HotelLawBlog.com.

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