July 13, 2005

Thayer Lodging Group has sold an eight-hotel portfolio to the Pyramid Hotel Opportunity Venture Fund. The properties are Doubletree hotels in Fort Lauderdale, Fla.; New Orleans; Somerset, N.J.; and Washington, D.C.; plus the Austin (Texas) Crowne Plaza; Sheraton Suites Plantation in Fort Lauderdale, and the Maison DuPuy Hotel in New Orleans.

The luxury Kor Hotel Group has taken on management of The Jefferson, a 100-room landmark property in Washington, D.C. Built in 1923 and set four blocks from the White House, the hotel is the second non-California property in Kor's portfolio.

The 172-room Park Hyatt Philadelphia at The Bellevue has begun renovating and restoring its 19th floor, which includes the restaurant, cigar and cocktail lounge, lobby, meeting space and business center. Within six months, the floor will have two new restaurants and a nightclub/lounge, in addition to private dining and meeting space. The hotel has 30,000 square feet of meeting and event space.

The board of directors of the Long Island (N.Y.) Convention and Visitors Bureau & Sports Commission last week endorsed Charles Wang's plan for the Lighthouse at Long Island in Uniondale. The project includes a major renovation of the Coliseum (the local sports arena), a 60-story "lighthouse" with an upscale hotel and a 10,000-square-foot observatory deck on top, a 110,000-square-foot convention center and a public park. Groundbreaking will occur June 2007 at the earliest, and work should be completed five years later.

The 200-room Crowne Plaza Lake Placid Resort in Lake Placid, N.Y., has opened. The hotel, formerly the Holiday Inn Lake Placid, has 30,000 square feet of meeting space and 45 holes of golf.

Destination Hotels & Resorts Inc. has opened the $11.2 million, 18-room Prospector Inn. The property is the first public structure opened at Suncadia in Roslyn, Wash., a resort development on the Cle Elum River that, when complete, will feature a conference center, retail village, lodge and three golf courses.