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Key Issues in Hotel Sales and Acquisitions

by Thomson Reuters in Hotel Development, Legal. Posted December 19, 2016

Buying and selling hotels is, in many ways, similar to buying and selling other types of commercial real estate, such as office buildings, shopping centers, or other mixed-use properties. However, potential purchasers and sellers of hotels must understand the key differences and unique issues that arise in a hotel sale or acquisition. This Note discusses: ...

Chicago Passes Short-Term Rental Ordinance

by Thomson Reuters in Legal, Lodging. Posted November 3, 2016

The City of Chicago enacted an ordinance that regulates Chicago’s shared housing and vacation rental industry (shared housing ordinance). The shared housing ordinance imposes regulations, registration and licensing requirements, booking surcharges, and reporting requirements on short-term residential rental intermediaries and advertising platforms. Hosts that operate more than one short-term rental in Chicago are also subject ...

New IRS Safe Harbors for Publicly-Financed Properties Help Hotel Industry

by Thomson Reuters in Hotel Development, Lodging. Posted November 2, 2016

The IRS recently issued new guidance on safe harbor provisions in management contracts for publicly-owned, bond-financed properties. These safe harbor provisions affect a variety of real estate assets including hotels and other privately managed public properties. On August 22, 2016, the IRS issued Revenue Procedure 2016-44, which provides new guidance on safe harbor provisions for management ...

Adelson’s Las Vegas Sands wins new U.S. trial in $100 mln Macau case

by Thomson Reuters in Legal. Posted April 12, 2016

Las Vegas Sands Corp persuaded Nevada’s highest court to throw out a more than $100 million verdict in favor of a Hong Kong businessman for helping Sheldon Adelson’s gaming company enter the fledgling Macau casino market more than a decade ago. In a decision on Friday, the Nevada Supreme Court found “insufficient evidence” to support ...

Lawyers see limited legal options for workers sent in Zika’s way

by Thomson Reuters in Legal, Safety & Security, Travel. Posted February 8, 2016

Employees of U.S. companies seeking to avoid exposure to the Zika virus likely have few legal avenues to either refuse travel to affected areas or sue if they actually become sick from the virus. But it may be a different story if such workers subsequently give birth to Zika-infected babies. Since Zika was detected in ...

Trends for 2016: Hospitality M & A

by Thomson Reuters in Hotel Development, Legal, Lodging. Posted December 7, 2015

Practical Law Real Estate On November 16, 2015, Marriott International announced its $12.2 billion acquisition of Starwood Hotels and Resorts Worldwide. The deal is the largest acquisition in the hospitality industry since Blackstone Group bought Hilton Hotels & Resorts for $26 billion in 2007. If the deal goes through (as is expected in mid-2016), the ...

Amtrak says to suspend national rail service without safety extension: letter

by Thomson Reuters in Legal, Technology, Travel. Posted October 8, 2015

Amtrak has told U.S. lawmakers that it will suspend service on its national network in mid-December unless Congress extends a Dec. 31 deadline for implementing advanced safety technology, according to an Oct. 5 letter from Amtrak reviewed by Reuters. The letter, addressed to Senate Commerce Committee Chairman John Thune, a South Dakota Republican, says service ...

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