W Hotel News
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Barry Sternlicht, who built his career buying distressed real estate in the early 1990s, is seeking to profit from the U.S. housing market revival by taking public a four-year-old homebuilder that has yet to make money.
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Microsoft Corp. Chief Executive Officer Steve Ballmer, on a swing through Taiwan this month, made time to meet with Peter Chou, his counterpart at HTC Corp.
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MIG Inc. , the indirect owner of 47 percent of the leading telecommunications provider in the Republic of Georgia, reached a settlement with the creditors’ committee that resulted in the approval of a disclosure statement on Aug. 19.
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The W Hotel in London was sold to an investor based in Qatar for about 200 million pounds, according to a statement today. The seller was McAleer & Rushe, the developer of the property.
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Almatis BV, a producer of specialty alumina products, will have a fight on its hands if it tries to extinguish claims of second-lien and mezzanine lenders by giving them only small distributions in the prepackaged reorganization begun April 30 in New York.
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Marriott International Inc. , the largest U.S. lodging chain, and other groups including Le Meridien and W Hotels , plan to open their first hotels in Taiwan as they compete to cater for rising numbers of Chinese tourists.
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The developer of London’s W Hotel, a site that includes the European flagship store of Mars Inc.’s M&M’s, agreed to sell the property for about 200 million pounds ($313 million.)
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SW Boston Hotel Venture LLC, the developer of a W Hotel in Boston, filed for Chapter 11 bankruptcy protection, listing both assets and liabilities of $100 million to $500 million.
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Iron Point Titan Ventures LLC , a real estate private-equity firm, bought defaulted debt tied to downtown Manhattan’s W Hotel as funds seek distressed opportunities, according to a person briefed on the transaction.
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Starwood Hotels & Resorts Worldwide Inc., the international luxury chain that owns W hotels, plans to expand the brand, the Sunday Telegraph said, citing President Frits van Paasschen.
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