News in brief: Starwood, IHG, Credit Suisse lawsuit

Starwood expands hotel spas in Asia:  Starwood Hotels & Resorts Worldwide, Inc. announced on Tuesday that it will expand hotel spas at its Sheraton and Westin brand locations in Asia and the Middle East over the next year.

Read more at MarketWatch


Denver hotel sells for $46 million:  REIT DiamondRock Hospitality announced on Monday that it purchased the 177-room Courtyard Denver Downtown for US$46 million. In May DiamondRock bought the JW Marriott Denver Cherry Creek for US$72.6 million.

Read more at the Denver Business Journal


Resort owners join $2.5 billion lawsuit:  The principals of Idaho’s Tamarack Resort and Montana’s Yellowstone Club have joined a US$2.5 billion lawsuit involving other U.S. resorts against Credit Suisse alleging predatory lending.

Read more at Bloomberg Businessweek


IHG extends contracts with Hospitality Properties Trust:  Hospitality Properties Trust announced on Monday that it extended to 2036 its four hotel management contracts for 130 hotels with InterContinental Hotels Group for owner’s priority returns of US$153.1 million per year.

Read more at MarketWatch


Lake Tahoe Ritz-Carlton enters foreclosure:  The Ritz-Carlton, Lake Tahoe was taken over by lenders in a foreclosure sale less than a year after developer East West Resort Development defaulted on US$165 million in loans. Operation of the resort by Ritz-Carlton will continue.

Read more at The Sacramento Bee


Virginia golf resort expanding:  Kingsmill Resort in Williamsburg, Virginia announced on Monday that it would be adding 200 rooms, a family-oriented swimming complex and a new wedding venue among other features. The project is scheduled for completion in May 2012.

Read more at Virginia Business