{"id":1002,"date":"2009-01-16T14:36:00","date_gmt":"2009-01-16T22:36:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/blogs\/dmckee\/index.cfm\/2009\/1\/16\/Buyers-remorse"},"modified":"2017-11-29T10:04:00","modified_gmt":"2017-11-29T18:04:00","slug":"buyers-remorse","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/buyers-remorse\/","title":{"rendered":"Buyers&apos; remorse"},"content":{"rendered":"<p><img loading=\"lazy\" src=\"\/userfiles\/Image\/072photo.jpg\" alt=\"\" width=\"300\" height=\"200\" \/> Even if hotelier and <strong>Westin Casuarina<\/strong> (above) owner <strong>Columbia Sussex<\/strong> succeeds in extricating itself from <strong>Tropicana Entertainment<\/strong>, it&#8217;s not out of the woods by a long chalk. It may have as little as nine months (or as many as 21) to pay off a <strong>$700 million<\/strong> loan &#8212; or forfeit over a half-billion dollars&#8217; worth of hotel properties.<\/p>\n<p>&#8220;Covenants are being triggered by those who have bought at high [long-term value] in 2006 and 2007,&#8221; says <strong>Cedar Capital Partners<\/strong> veep <strong>Phil Golding<\/strong>, and Golding&#8217;s time frame would coincide with the $3 billion-plus spending spree that netted ColSux CEO <strong>William J. Yung III<\/strong> not only <strong>Aztar Corp<\/strong>. but 14 <strong>Wyndham<\/strong>-flagged hotels when the seller&#8217;s market was at its peak.<\/p>\n<p>Judging by the tenor of the <em>Property Week<\/em> article, <strong>MGM Mirage<\/strong> also found an exquisitely inauspicious time to try and semi-reinvent itself as pure hotel operator (albeit so far only for the <strong>China<\/strong> and <strong>Dubai<\/strong> markets).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Even if hotelier and Westin Casuarina (above) owner Columbia Sussex succeeds in extricating itself from Tropicana Entertainment, it&#8217;s not out of the woods by a long chalk. It may have as little as nine months (or as many as 21) &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/buyers-remorse\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15,14,22,11,21,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/1002"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=1002"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/1002\/revisions"}],"predecessor-version":[{"id":20674,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/1002\/revisions\/20674"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=1002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=1002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=1002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}