Roosevelt Hotel Privatization Decision Delayed Again
Skift Take
The Privatization Commission board of Pakistan could not decide on the mode of privatizing the Roosevelt Hotel in New York, with members divided between leasing it for 99 years or developing it through a joint venture.
The DJIA ended Friday with a gain of 228 points while Nasdaq was up 197, the S&P 500 rose 56 points and the 10-year treasury yield was up .04 to 3.9%. Lodging stocks were higher but the only big mover was to the downside, with SOND falling -9% ahead of the long weekend.
Bernstein cut their price target on Hyatt Hotels to $178 from $185. Bernstein maintained their Outperform rating on H.
VinaKom, a venture led by Ketu Amin, paid $34 million earlier this month for the 412-room Westin Chicago North Shore in the northwest suburb of Wheeling, Illinois, according to Vinayaka Hospitality CEO Komal Patel. Vinayaka oversees management and operations of Amin's portfolio of 11 hotels in Chicago and Minneapolis. The seller of the hotel was AVR Realty. According to Crain's Chicago Business, the Amin venture that bought the hotel financed the deal with a $24.5 million loan from Re
