Renaissance Hotel up for auction: The partially completed 300-room Renaissance Hotel, Colorado Springs, Colorado, was put up for auction on Thursday. The developer John Q. Hammons Hotels & Resorts halted construction two years ago and is being taken to court for US$28 million by the project’s general contractor.
Trump Panama developer seeks debt restructuring: Newland International Properties Corp., the developer of Trump Ocean Club in Panama is seeking to restructure US$220 million in bonds ahead of a Nov. 15 US$41.9 million bond payment for the troubled property.
Read more at Bloomberg Businessweek
MGM expands in US: MGM Resorts International announced on Thursday that it will develop and manage Mojito Pointe, a luxury 400-room casino resort in Lake Charles, Louisiana. It is planned to open in 2013.
Ukraine gets hotel influx: Ukraine infrastructure minister Borys Kolesnikov said that about 70 to 80 hotels are being opened as new builds or conversion in the country ahead of the UEFA Euro 2012 tournament.
European hotel investment up 29%: A new report by BNP Paribas Real Estate shows that total hotel investment in the European countries of France, Germany, Italy, Spain and the U.K. was up 29% year-on-year in the first half of 2011.