TITLE

TWO HOTEL DEALS HANG IN THE BALANCE AS FINANCING DRIES UP

AUTHOR(S)
Knightly, Arnold
PUB. DATE
June 2008
SOURCE
Las Vegas Business Press (10712186);6/16/2008, Vol. 25 Issue 24, pP18
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that two developers have until June 30, 2008 to close their deals to acquire the Hooters Hotel and the Wet 'n Wild site. The entry notes that tighter credit markets have made it harder to fulfill funding deals for Las Vegas properties. Analysts cite that rates are going to be prohibitive for buyers who do not have a substantial track record in places where they want to raise and build capital. It also mentions that developers will find it hard to achieve significant return on investment with double-digit percentage loan rates.
ACCESSION #
33947405

 

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