tarwood Hotels & Resorts
Worldwide will commit $35 million to building the
headquarters hotel for the new Boston Convention Center.
Starwood and the local developers have also committed an
additional $1 million to "pre-development activities," including
excavation and site cleanup.
The 800-room first phase of the hotel, which will fly the
Westin flag, will cost about $200 million.
Construction of the hotel is expected to begin in the first quarter
of 2004, with the opening scheduled for spring 2006. The hotel is
considered critical to the success of the new $600 million
convention center, which is scheduled to open in about a year.
"Next spring, when we cut the ribbon and open the doors to the
Boston Convention & Exhibition Center, we will be able to look
next door and see the headquarters hotel coming out of the ground,"
said Gloria Larson, chairman of the Massachusetts Convention Center
Authority.
"The construction of the hotel will add to the convention
center's appeal but, more importantly, it will help us keep up the
momentum in the development of the South Boston waterfront," Larson
said.
• • •
In an effort to better reflect its location, the New York
Marriott Brooklyn has changed its name to the New York
Marriott at the Brooklyn Bridge.
The 376-room hotel was Brooklyn's first full-service hotel in 68
years when it opened in 1998 on Adams Street in downtown Brooklyn.
A hotel spokeswoman said potential guests would often ask how far
the hotel was from "New York City," so management decided to
leverage the hotel's proximity -- less than a mile -- to the
Brooklyn Bridge.
"Brooklyn is so large that it was important to tie the hotel
geographically to a Brooklyn -- and New York -- landmark," the
spokeswoman said.
But any confusion about its location hasn't hurt business. The
hotel has been about 86% full during the last two months and
recorded 85% occupancy for all of last year. Rates range from $199
to $299 a night.
• • •
Fairmont Hotels & Resorts said it will
invest approximately $9.5 million for a minority equity interest in
the Fairmont Coco Beach Resort, a new $152
million, 416-room resort on Puerto Rico's Rio Grande, 25 miles east
of San Juan. As part of the agreement, Fairmont will also manage
the resort and has the option to participate in the development of
a vacation ownership property on a 20-acre parcel of land adjacent
to the resort. Construction of the resort is scheduled begin this
fall, with a projected opening for late 2005. The Fairmont Coco
Beach Resort will consist of 416 rooms and villas, 30,000 square
feet of meeting space, a 12,000-square-foot Willow Stream spa and a
6,000-square-foot casino.
• • •
Choice Hotels agreed to allow
Travelweb to be an online distributor of the hotel
company's eight hotel brands.
It is the second merchant agreement for Choice, which two weeks
ago inked its first ever merchant agreement with
Travelocity. "Travelweb's merchant program
represents a significant benefit to our franchisee owners and their
guests," said Wayne Wielgus, Choice Hotels' senior vice president,
marketing.
"Franchisees benefit from broader distribution and the yield and
revenue management capabilities Travelweb provides, as well as cost
efficiencies that include elimination of GDS transaction fees."
Choice franchises some 5,000 hotels under the Comfort Inn,
Comfort Suites, Quality Inn, Sleep Inn, Clarion, MainStay Suites,
Econo Lodge and Rodeway Inn brands.
• • •
FelCor Lodging Trust, a hotel real estate
investment trust, said it closed on the sale of three nonstrategic
assets for $12.1 million.
Two hotels, the 138-room Hampton Inn in Moline, Ill., and the
132-room Hampton Inn in Davenport, Iowa, were sold with net sales
proceeds of $6.5 million.