News from Lexis Nexis
Host Downgrades RevPAR Guidance
BETHESDA, Md., Nov. 18 /PRNewswire-FirstCall/ -- Host Hotels & Resorts, Inc.(NYSE:HST)today announced that as a result of the worsening economy, which is significantly slowing travel and negatively impacting the Company's operations, the Company is revising its fourth quarter and full year 2008 comparable hotel RevPAR guidance, and withdrawing its remaining 2008 guidance, that was included in its third quarter earnings press release on October 10, 2008.
BETHESDA, Md., Nov. 18 /PRNewswire-FirstCall/ -- Host Hotels & Resorts, Inc.(NYSE:HST)today announced that as a result of the worsening economy, which is significantly slowing travel and negatively impacting the Company's operations, the Company is revising its fourth quarter and full year 2008 comparable hotel RevPAR guidance, and withdrawing its remaining 2008 guidance, that was included in its third quarter earnings press release on October 10, 2008.
MGM Mirage Plans Vegas-Style Resort In Vietnam
MGM MIRAGE(NYSE:MGM)and Asian Coast Development Ltd. (ACDL) today announced plans to develop the MGM Grand Ho Tram -- Vietnam's first "Las Vegas style" integrated resort. ACDL will own and finance the project, and MGM MIRAGE will provide development assistance, brand equity and operate the five-star integrated resort property upon completion.
MGM MIRAGE(NYSE:MGM)and Asian Coast Development Ltd. (ACDL) today announced plans to develop the MGM Grand Ho Tram -- Vietnam's first "Las Vegas style" integrated resort. ACDL will own and finance the project, and MGM MIRAGE will provide development assistance, brand equity and operate the five-star integrated resort property upon completion.
Morgans Embarks On Major Ad Campaign
Declaring that Recess Is On, Morgans Hotel Group Co.(NASDAQ:MHGC)today announced an aggressive marketing campaign that uses both traditional and non-traditional media to make its point. "This campaign is aimed at reminding our customers that the best way to deal with something unpleasant -- whether it's a recession or something else -- is with defiance and optimism," said Scott Williams, Morgans Chief Marketing Officer. "We've chosen strong language to make this point; and, although it may take some people off guard, it's what a lot of our customers are thinking right now."
Declaring that Recess Is On, Morgans Hotel Group Co.(NASDAQ:MHGC)today announced an aggressive marketing campaign that uses both traditional and non-traditional media to make its point. "This campaign is aimed at reminding our customers that the best way to deal with something unpleasant -- whether it's a recession or something else -- is with defiance and optimism," said Scott Williams, Morgans Chief Marketing Officer. "We've chosen strong language to make this point; and, although it may take some people off guard, it's what a lot of our customers are thinking right now."
Majestic Star Evaluates Strategic Alternatives
The Majestic Star Casino, LLC (the "Company") today announced that it has engaged Goldman, Sachs & Co. ("Goldman Sachs") to act as a financial advisor. In conjunction with XRoads Solutions Group, LLC, Goldman Sachs will assist the Company with its evaluation of financial and strategic alternatives. These alternatives may include a recapitalization, refinancing, restructuring or reorganization of the Company's obligations or a sale of some or all of its assets.
The Majestic Star Casino, LLC (the "Company") today announced that it has engaged Goldman, Sachs & Co. ("Goldman Sachs") to act as a financial advisor. In conjunction with XRoads Solutions Group, LLC, Goldman Sachs will assist the Company with its evaluation of financial and strategic alternatives. These alternatives may include a recapitalization, refinancing, restructuring or reorganization of the Company's obligations or a sale of some or all of its assets.
Tough Times Getting Tougher In Sin City
The airport cab stand said it all. Set up to get thousands of visitors an hour into taxis, there were none of the usual massive lines on a recent weekend afternoon. In fact, there was no queue at all. "It is worse than after 9/11," remarked one driver as she waited for a fare.
The airport cab stand said it all. Set up to get thousands of visitors an hour into taxis, there were none of the usual massive lines on a recent weekend afternoon. In fact, there was no queue at all. "It is worse than after 9/11," remarked one driver as she waited for a fare.
Gaylord Drops Plans For California Convention Hotel
Gaylord Entertainment (NYSE: GET) today announced the termination of its plans to develop a resort and convention hotel in Chula Vista, California. Prolonged planning and approval processes, a complicated regulatory and legal structure, and excessive off-site infrastructure costs contributed to this decision.
Gaylord Entertainment (NYSE: GET) today announced the termination of its plans to develop a resort and convention hotel in Chula Vista, California. Prolonged planning and approval processes, a complicated regulatory and legal structure, and excessive off-site infrastructure costs contributed to this decision.
70% Of Americans Won't Alter Thanksgiving Travel Plans
Discover® Card today released the findings of its second annual Thanksgiving Survey that asks consumers how they plan to spend the holiday. Despite the state of the economy, seven out of 10 respondents, or 70 percent, said they will not cut down on Thanksgiving travel this year. A similar number - 71 percent - said they are not considering the cost when making their Thanksgiving travel plans.
Discover® Card today released the findings of its second annual Thanksgiving Survey that asks consumers how they plan to spend the holiday. Despite the state of the economy, seven out of 10 respondents, or 70 percent, said they will not cut down on Thanksgiving travel this year. A similar number - 71 percent - said they are not considering the cost when making their Thanksgiving travel plans.
Number Of Non-Smoking U.S. Hotels Continues To Grow
Amid growing public concern about the dangers of secondhand smoke, the number of lodgings prohibiting smoking indoors has tripled in three years, according to a USA TODAY analysis of American Automobile Association data. There are more than 8,300 smoke-free lodgings in the USA -- nearly 6,000 more than in 2005, AAA's figures show. More than 7,000 of the smoke-free lodgings are hotels, motels, inns and B&Bs, while the rest are condos, cottages and other rentals.
Amid growing public concern about the dangers of secondhand smoke, the number of lodgings prohibiting smoking indoors has tripled in three years, according to a USA TODAY analysis of American Automobile Association data. There are more than 8,300 smoke-free lodgings in the USA -- nearly 6,000 more than in 2005, AAA's figures show. More than 7,000 of the smoke-free lodgings are hotels, motels, inns and B&Bs, while the rest are condos, cottages and other rentals.
Police Shootout In Waldorf=Astoria Lobby
A retired New York City Police Department detective was shot and wounded in a chaotic daytime robbery attempt at a jewelry store in the Waldorf-Astoria hotel yesterday. Police said retired Det. Gregory J. Boyle, 54, who had been on the force for 21 years, was working as an armed employee for Cellini Jewelers in the famed hotel's lobby.
A retired New York City Police Department detective was shot and wounded in a chaotic daytime robbery attempt at a jewelry store in the Waldorf-Astoria hotel yesterday. Police said retired Det. Gregory J. Boyle, 54, who had been on the force for 21 years, was working as an armed employee for Cellini Jewelers in the famed hotel's lobby.
Avielen Plans Hotel Complex At St. Petersburg Airport
Russia-Austrian company Avielen A.G. plans to open a 120 million euro hotel and office complex at St. Petersburg's Pulkovo Airport sometime in April-June 2010, the company's CEO Andrei Kanivets said at a news conference Monday.
Russia-Austrian company Avielen A.G. plans to open a 120 million euro hotel and office complex at St. Petersburg's Pulkovo Airport sometime in April-June 2010, the company's CEO Andrei Kanivets said at a news conference Monday.
Quantum To Expand Portfolio In Philippines
The expansion strategy of Quantum Hotels and Resorts - a condominium hotel and resort property management company - in the Philippines has been put into place.
The expansion strategy of Quantum Hotels and Resorts - a condominium hotel and resort property management company - in the Philippines has been put into place.
Holiday Inn Express Jumeirah Opens In Dubai
InterContinental Hotels Group (IHG) in partnership with Ishraq Gulf Real Estate Holding Co. has officially opened Holiday Inn Express Jumeirah. The hotel is the third Express property to open in Dubai and the second to open under the brand's new name following last year's announcement of the worldwide relaunch of the Holiday Inn brand family.
InterContinental Hotels Group (IHG) in partnership with Ishraq Gulf Real Estate Holding Co. has officially opened Holiday Inn Express Jumeirah. The hotel is the third Express property to open in Dubai and the second to open under the brand's new name following last year's announcement of the worldwide relaunch of the Holiday Inn brand family.
Atlantic City Revokes Casino Smoking Ban
After a month of fresh air inside Atlantic City's 11 casinos, smoking is once again allowed. A temporary smoking ban expired at 12:01 a.m. yesterday, and gamblers will be able to light up again for at least the next year. Gladys Bryan of Philadelphia can't wait. Standing on the Boardwalk outside the Atlantic City Hilton Casino Resort (one of two casinos that forced its gamblers to go outside to smoke during the ban), she complained about having to leave a hot slot machine that had been paying off for her in order to grab a smoke just outside the casino door.
After a month of fresh air inside Atlantic City's 11 casinos, smoking is once again allowed. A temporary smoking ban expired at 12:01 a.m. yesterday, and gamblers will be able to light up again for at least the next year. Gladys Bryan of Philadelphia can't wait. Standing on the Boardwalk outside the Atlantic City Hilton Casino Resort (one of two casinos that forced its gamblers to go outside to smoke during the ban), she complained about having to leave a hot slot machine that had been paying off for her in order to grab a smoke just outside the casino door.
Singapore May Let Casino Resorts Open In Stages
THE Government is considering requests by both integrated resort (IR) operators for their openings to be made in stages, Senior Minister of State for Trade and Industry S. Iswaran told the House yesterday. Both operators will also be held to fulfilling their obligations as outlined when their bids for the projects in Sentosa and Marina Bay were submitted, he said. He added that the Government does not expect any change in the contribution that both projects will have towards the economy and job scene here.
THE Government is considering requests by both integrated resort (IR) operators for their openings to be made in stages, Senior Minister of State for Trade and Industry S. Iswaran told the House yesterday. Both operators will also be held to fulfilling their obligations as outlined when their bids for the projects in Sentosa and Marina Bay were submitted, he said. He added that the Government does not expect any change in the contribution that both projects will have towards the economy and job scene here.
Rebuilt Islamabad Marriott To Have Bomb-Proof Wall
Islamabad, Nov. 17 -- (ANI): The Marriott Hotel in Islamabad, which faced the most dreadful suicide attack in Pakistan's history claiming more than 50 lives, will have a bomb-proof wall around it to protect it against terrorist attacks in the future, said the hotel administration.
Islamabad, Nov. 17 -- (ANI): The Marriott Hotel in Islamabad, which faced the most dreadful suicide attack in Pakistan's history claiming more than 50 lives, will have a bomb-proof wall around it to protect it against terrorist attacks in the future, said the hotel administration.
Taiwan Nears Approval Of Offshore Gambling
The Parliament in Taiwan is set to legalize gambling on a group of offshore islands as soon as the end of the year, a legislator and a senior aide said Monday, as local officials consider granting permits for three resort casinos to shore up their economy.
The Parliament in Taiwan is set to legalize gambling on a group of offshore islands as soon as the end of the year, a legislator and a senior aide said Monday, as local officials consider granting permits for three resort casinos to shore up their economy.
Gaming Must Address Crisis With Creativity
As thousands of gaming industry representatives begin arriving in Las Vegas for the eighth annual Global Gaming Expo, they will find the city much changed since last year's conference and trade show. The nation currently is facing a housing and financial crisis of historic proportions, and Southern Nevada could easily be considered ground zero.
As thousands of gaming industry representatives begin arriving in Las Vegas for the eighth annual Global Gaming Expo, they will find the city much changed since last year's conference and trade show. The nation currently is facing a housing and financial crisis of historic proportions, and Southern Nevada could easily be considered ground zero.
Bird Group To Enter India Hospitality Business
The country's leading hospitality and travel booking firm Bird Group is planning to foray into the luxury hotels segment and plans to set up 10 hotels in India in the next five years.
The country's leading hospitality and travel booking firm Bird Group is planning to foray into the luxury hotels segment and plans to set up 10 hotels in India in the next five years.
Nakheel Turns Away From U.S. To Asia, Mideast
Miami: As Nakheel Hotels celebrated the opening of the Fontainebleau Miami Beach resort this weekend, Gulf News has learned that the company is planning a "pause" in US hotel investments as it eyes markets in Asia and the Middle East for its future developments.
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Miami: As Nakheel Hotels celebrated the opening of the Fontainebleau Miami Beach resort this weekend, Gulf News has learned that the company is planning a "pause" in US hotel investments as it eyes markets in Asia and the Middle East for its future developments.
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