Look for transaction activity and even development to pick up across the board as investors seek out new opportunities in the global hospitality sector over the next 12 months according to EY’s “Global Hospitality Insights 2014,” released in mid-January. Following years of a slow and stubborn recovery and constrained capital budgets, the global hospitality sector witnessed a strong appetite for growth in 2013, a trend that is set to continue and pick up pace in 2014. “Global Hospitality Insights” follows 13 key trends expected to have major impacts on the hotel sector in 2014 and anticipates strengthening fundamentals providing a
The American Institute of Architects recently announced its “punch list” for Congress that, if completed, will ignite the construction economy by spurring much-needed improvements in energy efficiency, infrastructure and resiliency and create jobs for small businesses. “America needs to create more jobs, strengthen communities and find help for millions of young people to succeed in the new economy,” said Robert Ivy, CEO of the AIA. “So we’ve created a punch list—a term that enumerates unfinished items in a construction contract.“The AIA’s Congressional punch list will help Congress satisfy its implicit contract with the American people to spur growth and create
For years, Colorado property owners, as well as banks and other lenders that had deeds of trust (mortgages) on real estate, paid off or settled with subcontractors and suppliers who claimed mechanic’s liens against the properties involved. They made those payments because they thought, or were advised, that the mechanic’s liens had priorities over the deeds of trust. That is not necessarily true. Whether a particular mechanic’s lien has priority over a deed of trust requires careful factual and legal study. If a subcontractor’s or supplier’s mechanic's lien does not have priority over the deed of trust, the subcontractor or
The Equipment Leasing and Finance Association (ELFA), which represents the $827-billion equipment finance sector, recently revealed its Top 10 Equipment Acquisition Trends for 2014. Given that U.S. businesses, nonprofits and government agencies will spend more than $1.5 trillion in capital goods or fixed business investments (including software) this year—and finance more than half of those assets—these trends affect a significant portion of the U.S. economy. Businesses will need to consider a dynamic environment of economic growth, wider credit availability and favorable interest rates in their equipment acquisition decision-making. “For a majority of U.S. businesses, equipment financing is a critical source of
The Conference Board Consumer Confidence Index, which had decreased in November, rebounded in December. The Index stands at 78.1 (1985=100), up from 72.0 in November. The Present Situation Index increased to 76.2 from 73.5. The Expectations Index increased to 79.4 from 71.1. Consumers’ appraisal of overall current conditions improved. Those claiming business conditions are “good” edged down to 19.6% from 20.4%, however, those claiming business conditions are “bad” decreased to 22.6% from 24.6%. Consumers’ appraisal of the job market was also more upbeat. Those saying jobs are “plentiful” ticked up to 12.2% from 12.0%, while those saying jobs are
At a seasonally adjusted annual rate of $524.8 billion, new construction starts in November fell 11% from the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. The downturn followed heightened activity in October, which showed the strongest pace for construction starts so far during 2013. Both nonresidential building and nonbuilding construction pulled back from their elevated October amounts. At the same time, residential building showed modest growth in November, continuing the steady upward trend that’s been present during most of 2013.For the first 11 months of 2013, total construction starts on an unadjusted basis came
Wyoming’s mechanic’s lien laws are designed to protect individuals who provide labor or materials for the improvement of existing real property or new construction of real property. The intent is to provide a remedy to lien claimants in addition to other remedies afforded at law, such as breach of contract. The effect of a mechanic’s lien is that an encumbrance is placed on the title of the improved property. The property, in turn, serves as security for the debt incurred for the improvements. The encumbrance remains on the property even if title is transferred to a new owner, unless the
Does an unsolicited offer to purchase your business have you dreaming about the next phase in life? If so, don’t run out and put a down payment on the vacation home just yet. Attempting to complete a business sale with only one prospective buyer can lead to a host of problems, including leaving money on the table, or worse, a failed transaction. In fact, if you have received an unsolicited offer, it is a good indication that your business has market demand and would benefit from a confidential competitive auction process. While there are success stories with sales transactions involving
Outwardly, retail centers seem to have come full circle over the past 80 years, morphing from sidewalk shops that formed a main street during the first half of the 20th century to suburban strips in the ‘50s to the indoor malls of the ‘70s and now—back again to “town centers” which mimic the look and feel of those initial main streets. Over the past decade or so, two trends have conspired to undercut the traditional importance of shopping centers as focal points for the communities in which they are located. First, consumers now have tremendous opportunities to buy goods at
A recent decision of the Colorado Court of Appeals in the case of “Stresscon Corporation v. Travelers Property Casualty Company of America” provides an insight into insurance coverage under a contractor’s comprehensive general liability insurance policy. While the decision may be reviewed by the Colorado Supreme Court at a later date, it does appear to express the law as it now stands in Colorado. In the case, Stresscon fabricated concrete structural members that were being installed on the project when a panel fell, one workman was killed and another injured. Travelers, Stresscon’s comprehensive general liability insurance carrier, refused to defend
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