PAYSON, AZ-The 29,000-sf facility will deliver in June 2003 as a centerpiece to the 18-hole private Rim Golf Course, anchor for an upscale mountain community with commanding views of the Mogollon Rim.

SALT LAKE CITY-The buyers waste no time in buying the former University Club for 60% of the replacement cost, taking out a $16-million loan. The 217,035-sf building in Salt Lake City's CBD changes hands and gets a new tenant to boost occupancy to 96%.

PHOENIX-Paramount Hotel is plotting a move to double the management portfolio and investment opportunities to push their three-year-old company into the national arena. The NJ-based firm now oversees 3,000 rooms, mostly in the Eastern US.

PHOENIX-Hotel mogul John Q. Hammons receives the award for lifetime achievements. The conference also is the launch pad for the 83-year-old hotelier to hand out copies of his biographical book that details his rise from the Depression era.

PHOENIX-Rick L. Weddle, president and CEO of the Greater Phoenix Economic Council, is selected to be the first chairman of the international EDC. Weddle was treasurer of the group.

PHOENIX-There is pent-up money and some portfolio trimming. Still, don't look for heavy trading because many owners are refinancing instead of selling in a down market. It will get better by 2004, say those in the know at the 2002 Lodging Conference.

PHOENIX-Bargain hunters are pressuring the hotel industry as they turn to the Internet to lock in the most competitive rates. The practice gives unprecedented consumer control, says a hotel expert at the 2002 Lodging Conference in Phoenix.

PHOENIX-The 8,865-sf center sells after two months of being on the market and sparking a bidding war. The winner, Joseph Phillips of Honolulu, offers all cash, gets the property and satisfies a 1031 Exchange requirement.