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October 23, 2019

With Booming Numbers, Miami's Hospitality Market Can't Lose

Newly Added! LW Hospitality Advisors CEO Dan Lesser joins South Florida Hospitality & Tourism Summit Nov. 7

Yeah, yeah, Miami might be underwater soon, but for now at least, the city has a key ingredient going for it: hard numbers.

The city is first in employment growth and fourth in population growth, according to a CityLab analysis of fastest-growing cities this August. Last year broke tourism records — 16.5 million overnight visitors and 6.8 million day-trippers came through — and 2019 is likely to top those. All of this bodes well for the city's hospitality industry.

With Booming Numbers, Miami's Hospitality Market Can't Lose

“Miami has a growing population, whereas New York and LA are stagnant,” Dream Hotel Group Vice President of Development and Acquisitions Christian Glauser-Benz told Bisnow.He considers Miami a safer place than most to do business because of low taxes and the diverse visitor set it attracts: South Americans, Europeans and…

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NTSB: Fatal Miami Bridge Collapse Caused By 'A Paralyzing Culture Of Group-Think'
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The engineer, designer and inspectors are all responsible for the 2018 collapse of a Miami bridge that killed six people, the National Transportation Safety Board found.On March 15, 2018, a 950-ton bridge that was supposed to be an architectural landmark crashed to the ground mid-construction, killing five people in cars below,…

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JLL Sues Former Managing Directors For $2.8M In Unpaid Loans
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JLL is suing two of its former managing directors, claiming they owe the Chicago-based brokerage giant a combined $2.8M in unpaid loans.In a legal complaint filed Thursday in U.S. District Court in Chicago, JLL alleges that former managing directors Jubeen Vaghefi and Dennis St. Romain have…

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The Guitar-Shaped Hard Rock Hotel Is Set To Open This Week
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The Seminole Hard Rock Hotel & Casino in Hollywood, Florida, is set to unveil its $1.5B expansion, including the distinctive Guitar Hotel in the shape of an acoustic six-string, on Thursday.Entertainment is at the heart of the resort experience: the on-site concert venue, Hard Rock Live, was converted to a theater…

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CoStar Awarded Record $500M Settlement From Xceligent In Copyright Suit

CoStar Group's legal battle with Xceligent appeared to fade when its competitor shut down nearly two years ago, but new documents show the dispute has continued behind the scenes, and CoStar just won a major victory. 

CoStar and Xceligent's court-appointed bankruptcy trustee filed a proposed judgment in Delaware Bankruptcy Court Tuesday, finding Xceligent liable for $500M in damages for stealing tens of thousands of images from CoStar's databases.

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Here's What D.C. Looked Like In 1933, The Last Time The City Hosted A World Series

The Fall Classic is returning to the nation's capital for the first time in eight decades.

The Nationals played the Houston Astros in the first game of the World Series Tuesday night, and D.C. will host a World Series game Friday for the first time since the Washington Senators played the New York Giants in 1933.

The Senators lineup in that series featured Hall of Famers including Goose Goslin and Heinie Manush. Not only did the names on the scorecard look different than they do today, the 1933 World Series was played in a city that would be barely recognizable if Steven Strasburg or Juan Soto were to travel back in time. 

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An Inside Look: How Howard Hughes Came Up With Its $2B List Of Assets To Liquidate
 

Several months ago, Wall Street analysts called Howard Hughes Corp.’s stock value underrated and hit hard on the developer’s New York Seaport District, blaming the project for dragging down the company's stock value with heavy capital requirements. 

Fast-forward to this week, and the Seaport District is perhaps unexpectedly one of six assets expected to remain inside Howard Hughes’ portfolio as the firm enters into a 12-month restructuring phase that includes plans to possibly liquidate non-core assets.

How did Howard Hughes come up with its list of core assets to keep, and its plan for what assets to possibly liquidate in a massive corporate realignment that has already prompted the replacement of CEO David Weinreb and a corporate headquarters move to Houston? 

The company’s chief financial officer, David O’Reilly, took Bisnow into the weeds Tuesday to understand the true nature and intent of the restructuring.

Read the full story here.
 
 
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