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PORTLAND-Occupancy dropped last year as the market continued to soak up five new hotels in the past four years. So far this year, hoteliers in select areas are sounding a little happier. Then again, more hotel rooms are on the way.
ORLANDO-Prudential Real Estate Investors and Heller Financial get $47 million for the 15-story, 393-room property, one of the first non-Disney-owned hotels to be built at the Lake Buena Vista, FL attraction in 1972.
PHOENIX-Downtown's largest hotel is for sale, and the owners, who have put $20 million in improvements into the property, are looking for offers in the nine-figure range.
NEW YORK CITY-Most of the 811,182-sf building, which is 99% leased, is occupied by Mellon Bank. The class-A facility earned a National Preservation Honor Award after if was renovated.
LOS ANGELES-Hotel giant signs sweeping affiliation agreement with Mexican chain, one of Hilton's most ambitious steps yet to expand into the lucrative market.
RICHARDSON, TX-The Renaissance Richardson, under construction since November 1999, has reached a milestone in its construction schedule, which is on track for a May 2001 opening. The hotel, John Q. Hammon's first Renaissance in Texas, has decided to start its 2001 dance card
WHITE PLAINS-Starwood Hotels and Resorts Worldwide Inc. has joined with Mexico developer Grupo Plan Planificacion SA de CV, to build a W Hotel property in Mexico City.
ORLANDO-The host of TV's Bill Nye the Science Guy charged the theme park company illegally used his likeness on attractions at Epcot at Lake Buena Vista, FL. Disney denied the allegations. The suit sought $500,000. Settlement terms weren't disclosed.
MIAMI-Operational shock waves continue to rumble through the movie theater business. Regal Cinemas, both South Florida's and the nation's largest operator, is reported to be shelving plans for new locations and trying to cancel leases on existing properties.