Hotels

Istithmar seeks measures against bankruptcy of W Hotel

April 3- A branch of Istithmar, the overseas investment arm of Dubai World, has asked the courts to intervene after last week's bankruptcy filing by the owners of the W Union Square Hotel. The unit, called Union Square Real Holding Corp, said that the bankrupt lender/hotel owner group threatened to file a voluntary bankruptcy petition for the W Hotel as well but do not have the authority to do so.

Hotels Union Square Mezz 1 filed for bankruptcy protection on March 23 in Wilmington, Delaware federal bankruptcy court. The company is an entity of LEM Mezzanine which is in turn a sister company to Lubert-Adler Real Estate Funds. The move stopped a foreclosure auction for the W Hotel located in the Union Square area of Manhattan that had been scheduled.

Istithmar bought the hotel in 2006 for $285 million. It lost control of the hotel in a December foreclosure auction to Hotels Union Square Mezz 1.

More Hotels
Rixos Ras al Khaimah launches May Fest 2017
DUKES Dubai hotel launches exclusive, women’s only Duchess Floor
Swissotel opens new luxury hotel in Makkah near the Ka’aba
Latest Travel News
Emirates A380 Onboard Lounge on display ...
Etihad’s heavyweight promotion at Arabia...
Emirates cuts flights to the United Stat...
Featured Sights To See
Alexanderplatz

Alexanderplatz

Berlin, Germany

the largest, and arguably one of the most famous squares in Berlin. It historically had markets so was an important square for many centuries. In World War II, almost all of the area was bombed but it has been beautifully restored. All public transport lines now have stops here and the TV tower rises up from the center. The Fernsehturm (or TV asparagus, as the Berliners call it) is 368m tall and h...

Museo Franz Mayer

Museo Franz Mayer

Mexico City, Mexico

Address: Hidalgo 45. Centro Histórico, México D.F. 06300 Phone: 5518 2266 Fax: (55) 5521-2888 Website: http://www.franzmayer.org.mx/ingles/index.html Email: hrborrell@franzmayer.org.mx Timings: Tuesdays to Sundays 10 am to 5 pm. Admission: Adults 45 pesos Students and Teachers 25 pesos (with ID) Free admission for children under 12 seniors over 65...

Hanoi Opera House

Hanoi Opera House

Hanoi, Vietnam

The Hanoi Opera House, also called Nha Hat Lon Ha Noi or Hanoi Municipal Theatre, is a landmark of the French Quarter of Hanoi. Unfortunately, to get inside, visitors have to attend a performance, which are usually enjoyable but few and far between. Address: 1 Trang Tien St, Hanoi ...

Bastions Park

Bastions Park

Geneva, Switzerland

This was formerly a botanical garden, and a site for the first university in Geneva. The tree lined walkways and broad avenues inside the park make it popular for romantic evening walks. The park is buzzing with people almost all day. In one corner of the park is a set of life size chess boards, where aspiring chess players of all ages test their skills. The Reformation Wall on the east side along...