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Vikram's Dream South Beach To Come True in Early 2010

UPDATE: We have some renderings after the jump.

The Dream South Beach in late July 2009.

We know, we know. The Dream South Beach has said they would be opening several times before. But this time, we think they really mean it. A rep for Chatwal hotels has told us that the Dream will become a reality in early 2010. Yes, early 2010. And yes, that building above will be transformed into a Dream Hotel by early 2010.

There's still no mention of Dream South Beach on the Vikram Chatwal Hotels website and the DreamSouthBeach.com is not functional. BUT there is a Twitter feed. The first update? "Preparing for opening in Spring 2010!" Hmm...spring, eh? Well, we'll take into account this new truth of social media: If you tweet it then you must believe it.

Tags: Hotel Woes / Dream Hotels / Manhattan Hotels / Industry News / → All Tags

Will Dream NYC's Financial Woes Affect You?

Where: 210 West 55th Street [map], New York, NY, United States, 10019

So, we knew Dream NYC was having some major financial issues. A $100 million loan secured by the hotel "was put on a special servicer status" a few months ago — which usually does not necessarily mean that the loan is going to default. But in this case, it did: National Real Estate Investor reports today that the hotel actually defaulted on that $100 million loan. Alright then. So now what?

An excellent article over at Budget Travel outlined exactly what it means for the guest when the hotel you've booked is in major financial trouble. Quick summary: in almost all situations — whether a hotel has defaulted on a loan or is actually in foreclosure — it means absolutely nothing:

As Joe McInerney, president and CEO of the American Hotel & Lodging Association, puts it, hotel guests don’t have much to worry about. "When a hotel is in foreclosure, it's business as usual from the guest's point of view," says McInerney. "All commitments are honored. If new operators have taken over, it's generally a seamless procedure."

The BT article goes on to explain what happens when a bank takes possession of a hotel — recommended reading, for sure — but in most cases when a hotel is having serious trouble, you don't see much from the guest side of things unless there is some sort of crazy political owner vs. management debacle going on (a la what some people are saying went down with Four Seasons Aviara).

Uh, we're still gonna keep our eye on Dream, though.

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Financial Woes For Dream New York?

Where: 210 West 55th Street [map], New York, NY, United States, 100019

Uh-oh. Something's goin' down at Dream NYC, and it ain't nearly as good as those $113 room rates we were seeing for the summer: The Real Deal reports that a $100 million loan secured by the hotel "was put on a special servicer status," which, TRD says, indicates "the possibility it may become delinquent." In April, the loan payment was late — but the note wasn't in default.

But what do the possible financial issues have to do with you? Nothing — yet:

Though the special servicer status is worrisome, very few loans have gone from special servicer status to default in New York City. There were just nine delinquent securitized loans in New York City totaling $272 million from a total of 1,886 loans valued at $58.6 billion as of the end of April

Hampshire Hotels owns the building but not the underlying property, though it does control that property through a long-term lease.

Could there be trouble a-brewin' with the Dream, with Hampshire and with Vikram Chatwal? And could this mean Dream Downtown (slated to open in 2010, as far as we know) is having financial probs too?

As usual, money gets in the way of Dreams. Ha.

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Hotels for $100 or Less: The Dream Bangkok

Where: 10 Soi Ruamjai Sukhumvit 15, Bangkok, Thailand

All this week, we'll be profiling hotels for $100 or less. Yay! Know of any other bargains? Send 'em to us.

While we're not sure what's happening with Vikram Chatwal's Chatwal Hotel in NYC, the Dream Bangkok is still alive and offering room rates for under $90.

A tipster let us know that room rates are currently at $86 but if you're an Amex card holder you can get your room for just $77.

We checked for a room on May 3 and indeedy, a $86 rate popped up for a classic room with a plasma TV, iPod nanos to use during your stay and an all-time HotelChatter fave, bathrobes! Wanna spend more to get more? The junior suite is available for only $162.

How much of a deal is this? Well, when the Dream opened up a few years ago, rooms were priced at $160 a night. It seems we're starting to like the recession more and more.

Tags: Hotel Openings / India Hotels / Dream Hotels / VCH Hotels / Vikram Chatwal / → All Tags

Vikram Chatwal Wants Us Floating On a Cloud at Dream Cochin

Where: SA Road, Ernakulamv, Kochi, Kerala, India, 682020

While the opening of the Downtown Dream Hotel in New York is, pardon the pun, still just a dream, Vikram Chatwal's VCH group seems to have managed to get their act together with another Dream hotel at least: the Dream Cochin in Kerala is now up and running.

Per Luxist, The Indian tourism ministry has apparently already awarded the Dream Cochin five stars, although the Dream gang seem to think their new hotel is even better than that; they promise it "offers a glimpse of the future of deluxe accommodations."

The future is apparently going to be blue in color, which the Dream people think will give us the feeling of floating on a cloud. Think a mix of hippy and hip, because they've also tried to plug in modern technology all over the place too.

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Dream Downtown NYC Delayed to 2010?

Back in April of 2008, we stood at this very same vantage point in West Chelsea for a look at hotelier Vikram Chatwal's upcoming Downtown Dream Hotel, which abuts the back end of Sean MacPherson's Maritime. Now almost a year later, the Dream construction (on the left) remains shrouded like Chernobyl while the Maritime beams at the thought of having another summer to itself.

Originally slated for "early 2009" and with no official revised date, we'll take the initiative and peg this as early 2010. If we're to understand anything from the construction company's project website for the Dream Downtown, then they're having enough issues with the porthole-like windows, forget the rest of the place. What this means is that The Maritime will enjoy smooth sailing this summer, its (most likely) final one as the only hotel and cabanas on the block. That is, unless you're willing to walk down several blocks to The Standard.

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Weekend Hotel Happening :: Oktoberfest at the Dream Hotel

Where: 210 W 55th St [map], New York, NY, United States, 10019

Hotel: The Dream Hotel New York

When: Saturday, September 20th. 1 to 7 pm.

Where: The hotel's lounge, AVA, and its "rooftop-turned-bier-garten".

What: An Oktoberfest celebration!

Kind of random, we know -- but we're told the place will be teeming with beer and Bratwurst (perhaps both in the edible sense and the euphemistic sense). Now, we have to warn you: there's a list for this event and we're not sure who's on it, but we couldn't resist passing the news along to you. Hey, you're a hottie so we figured you can try your luck with getting into this anyway.

They're giving away some stuff, too, including treatments at The Chopra Canter & Spa, dinner at Amalia at Dream or Beer for a Year. Yes: beer. For a YEAR.

Tags: Vikram Chatwal / Dream Hotels / Dream Downtown / Hot Hotelier News / Hotel Hype / Hampshire Hotels / → All Tags

Snapshot :: Vikram's Downtown Dream Hotel is (Ship)Shaping Up

Is what you see above: A) another nautical building sticking off the back of the Maritime Hotel?  B) a homeless shelter? Or is it C) Vikram Chatwal's $70 million dollar chunk of the Meatpacking District?

As is only proper in the business of building New York hotels, ALL THREE crazy statements are very true. The property at 346 West 17th Street, formerly The Covenant House homeless shelter, was purchased by Vikram's father's company Hampshire Hotels late last year.

Looking like The Maritime in drydock, the Downtown Dream so far has a gutted interior, a fully painted mud-grey exterior and construction that appears to be moving right along...for now.

According to Vikram's company website, his Downtown Dream is due to debut in early 2009, just in time to give The Maritime a run for its summer rush. And yes, just in case you need to hear it again, the Downtown Dream is right next to the Maritime Hotel so that should be a very interesting situation when it opens.

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On Our Christmas Wish List: Nygard Cay

If we worked in cubicles, we would call this post Cubicle Dreamin but instead we work out of hotel lobbies, Panera (before lunchtime), Starbucks and occasionally, when Comcast or Adelphia gets their act together, our homes.

Still, this is a vacation getaway for anyone to fantasize about, except for maybe Trump because he probably already owns something like this.

Nygard Cay is a "4.2 acre dreamland at the end of Lyford Cay in New Providencia Bahamas" where a 10-bedroom villa is available for you and your entourage to rent.

If price were not an issue, you would have at your disposal on this little island 2 pools, 5 Jacuzzi/whirlpools, a tennis court, 2 volleyball courts, basketball court, 3 boats, staff of 20, food and liquor included, 2 Hummers, a 48' fishing vessel, a 24 seat movie theatre, exotic birds, and limousine transfer from Nassau International Airport to Nygard Cay.

Should we even mention the price? Why ruin the dream huh? Oh well, just in case some of you readers are earning Bill Gates bank, the villa is $35,000 US per day in 2007 and there is a three night minimum stay during low season of April 15 to December 15. Over the holidays, there's a five night minimum and from Dec. 15 to Jan 10, the price goes up to $40,000 and requires a 10 night minimum.

To Do in 2007: Start saving cash for Nygard Cay.