Major hotel brands seek individuality, and Louisville’s downtown begins to wake up
Jun 9, 2014
Here are the news stories you might have missed last week:
GlobeSt.com: Hilton, Marriott look to new concepts for growth
The travel industry is in for a change, at least according to some hotel execs. This week, Hilton Worldwide and Marriott International both unveiled plans that would take the industry icons in new directions. Marriott’s plans include a $15 billion investment in more than 200 luxury and lifestyle hotels — a move the company says will appeal to the next generation of traveler who seek distinctive hotel experiences. While Hilton’s new Curio brand will be compromised of four- to five-star hotels with unique designs and identities. Click over to GlobeSt.com to read more.
The New York Times: Waking up Louisville’s downtown
Major renovation and construction projects are transforming Louisville from a sleepy city to a vibrant hub of urban development. Developers built more than 1,000 housing units downtown since 2009, and the city’s planning department estimates that an additional $418 million will be spent on offices, retail space, apartments, and more than 1,400 new hotel rooms over the next two years. Thousands of residents and visitors are flocking to the region’s new entertainment centers, bourbon distilleries, and gourmet restaurants. Learn why at NYTimes.com.
The Post and Courier: Real estate officials show concerns about city liquor overlay
Real estate officials don’t want Charleston, South Carolina to go dry. A proposed ordinance could prevent establishments from selling alcohol after midnight in the city’s historic downtown district, impacting grocery stores, gas stations, bars, and restaurants. Local real estate advocates argue that the rule could unjustly lower property values and curtail commercial property sales. Visit PostandCourier.com to learn more.
CoStar.com: U.S. banks show 6% annual increase in CRE lending
Commercial real estate loans are up again, with a total of $1.6 trillion now on U.S. bank books. Though banks in some states like Louisiana, Rhode Island, Oregon, and Nevada are still seeing CRE loans decrease, states with larger populations, like California and New York, have added more than $14 billion each to their totals. Based on dollar volume, loans outstanding for non-residential, non-owner occupied properties saw the biggest gains, with multifamily property loans coming in a close second. Visit CoStar.com for more information.