In a time when the hospitality industry is facing problems globally, it’s always promising to know there are people continuing to invest in the future.

The former BBC Scotland headquarters in Glasgow’s west end will be the new home of a £25m luxury hotel, which includes 120-bedrooms and a spa. The city council’s has recently approved the revised application for the development of this new project.

QMD Hotel developers and the Hamilton commented that this hotel will generate 150 jobs and that it will open early in 2011.

The Glasgow City Marketing Bureau, Scott Taylor talked to the BBC News and said: “Public and private sector partners in the city are working towards a 60% increase in tourism to Glasgow by 2016 with all the resulting benefits to the economy, and we welcome the support of enlightened entrepreneurs.”

It was in 2007 when the BBC headquarters moved to Pacific Quay on the South side of Glasgow, but they were in the older location for 72 years previous to the move. Now, a new enterprise will rise in what was the old BBC headquarter, a promising project that will bring business to the area.

According to new published releases, the Interstate Hotel & Resorts Inc. has reported a net loss of $12,5 million in revenue comparing this first year quarter to 2008′s first quarter.

Among the Interstate Hotel & Resorts Inc.’s managed properties, the revenue per available room has dropped 19.1%.

It was in January 2009 that the company decided to fire 45 of its corporate employees and cut up to 10% of senior managers’ salaries as a cost-saving program.

This strategy helped for awhile, but it wasn’t enough to combat the drastic drop in revenues for the first quarter of this year. Unfortunately, the trading of its stock was suspended because they couldn’t meet the minimum requirement of $15million market capitalization in a consecutive 30-day period.

Bruce Riggins, chief financial officer has commented: “we have engaged Bank of America to be lead arranger for the extension of our credit facility, which has a March 2010 maturity.”

There is not any news about Bank of America approving the motion, and they continue negotiations.