Sun Resorts Ltd. , the second-biggest hotel chain and tour operator in Mauritius by market capitalization, said its loss for the third quarter widened 27 percent on lower revenue at its luxury resorts.
A lender group including Paulson & Co., the New York-based hedge fund run by John Paulson , seized control of former CNL Hotels & Resorts Inc. properties from Morgan Stanley ’s real estate funds through a $600 million debt restructuring, said two people with knowledge of the deal.
Amer Group Holding , an Egyptian developer of luxury resorts, said it plans to raise about 1.14 billion Egyptian pounds ($200 million) in a share sale, the second initial public offering in the country this year.
Luxury resorts along Queensland's coast are selling at a fraction of peak prices as a rising Australian dollar hurts domestic tourism. Shraysi Tandon reports on Bloomberg Television's "First Up." Susan Li also speaks. (Source: Bloomberg)
The lenders that seized eight luxury resorts from Morgan Stanley’s real estate funds hired a law firm to explore a bankruptcy filing for the properties that may come as early as today, said a person familiar with the talks.
Blackstone Group LP agreed to sell the Miami Beach Resort in Florida to Joseph Chetrit for $117 million as part of a debt restructuring in its LXR Luxury Resorts & Hotels unit, a person with knowledge of the deal said.