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Twin River Worldwide Holdings to Acquire Jumer’s Casino & Hotel for $120M
Twin River | October 1, 2020
PROVIDENCE, R.I., Oct. 1, 2020 - Twin River Worldwide Holdings, Inc. (NYSE: TRWH) ("Twin River" or the "Company") today announced that it has entered into an agreement with Delaware North Companies Gaming & Entertainment, Inc. to acquire Jumer's Casino & Hotel ("Jumer's") in Rock Island, Illinois for a purchase price of $120 million in cash. The total consideration for the transaction represents an implied proforma purchase multiple of approximately 7.4x trailing twelve months earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") (for the period ended December 31, 2019). The multiple excludes the impac
Tourism Tidbits: Making Memories/Selling Memories in a Time of Too Few Good Memories
Dr. Peter E. Tarlow | October 1, 2020
By Dr. Peter Tarlow Throughout the northern hemisphere, October begins to set the stage for the winter months. Its tourism leaders think about travel during the winter months and although they know that weather conditions might be harsh, there are many new opportunities for winter sports and holiday festivals. In the southern hemisphere October is a time to plan for summer and school vacations. Soon people will have more time for leisure and visitors from harsh northern climates consider warmer locations as a way to escape from the damp cold days of winter. Throughout much of the planet, autumn’s leaves turn the world into a sea
Sacramento Most Expensive U.S. City for Hotels, Survey Shows
Cheaphotels.org | October 1, 2020
According to the latest survey by Cheaphotels.org, Sacramento is currently the most expensive city in the United States for hotel accommodations, This year's results, however, were heavily skewed by the COVID-19 pandemic. The survey compared hotel rates across 50 urban destinations in the U.S. Average rates for the least expensive double room during October 2020 for each destination were determined and only centrally located hotels with a 3-star rating or higher were considered. Sacramento topped the rankings with an average price of $131 for the most affordable double room. Cincinnati and Phoenix complete the podium, with average rates
YOTELPAD Park City Set for November Opening in Utah
Replay | October 1, 2020
Replay Destinations, YOTEL and Benchmark Announce Brandon Tyler General Manager of New Hotel Park City, Utah, October 1, 2020 … Today Replay Destinations, YOTEL and BENCHMARK®, a global hospitality company, announced the expected opening date, operations structure and the general manager for a new hotel that will open this ski season in Park City. Developed by Replay Destinations in Canyons Village at the base of Park City Mountain Resort, YOTELPAD Park City will be the newest hotel to open in Park City and the first YOTELPAD concept to open globally. YOTELPAD Park City began construction in spring 2019 and is scheduled for completio
Caesars Entertainment and VICI Properties Complete Sale of Harrah’s Reno to CAI Investments for $41.5M
Caesars Entertainment | October 1, 2020
NEW YORK - Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars Entertainment” or “Caesars”) and VICI Properties Inc. (NYSE:VICI) (“VICI Properties” or “VICI”) today announced they have completed the previously disclosed transaction to sell Harrah’s Reno Hotel and Casino (“Harrah’s Reno”) to an affiliate of CAI Investments for $41.5 million. The proceeds of the transaction were split 75% to VICI and 25% to Caesars, while the annual rent payments under the Regional Master Lease between Caesars and VICI remain unchanged. Forward-Looking Statements This press release includes forward-looking statements within the me
Aloft Debuts in Japan With Opening of Aloft Tokyo Ginza
Aloft Hotels | October 1, 2020
Aloft Hotels, Marriott International’s brand for music enthusiasts and tech-savvy travellers, today announced the opening of Aloft Tokyo Ginza, the first Aloft hotel to open in Japan. With its highly original design conceptualized as a nod to Ginza’s “Miyuki-zoku” youth subculture movement of the 1960s, Aloft Tokyo Ginza showcases an eclectic mix of neon colours, graffiti, and urban art inspired by Tokyo’s iconic street culture. Located in Ginza, Tokyo’s most famous shopping, dining, and entertainment district, the new Aloft Tokyo Ginza is just a short walk away from Ginza Six shopping mall, the Mitsukoshi Ginza department stor
Marriott Hotels Brand Opens Batam Marriott Hotel Harbour Bay in Indonesia
Marriott Hotels | October 1, 2020
Marriott International Inc. today announced the opening of Batam Marriott Hotel Harbour Bay on Batam island, the largest island in Indonesia’s Riau archipelago province and a favorite getaway destination for visitors from nearby Singapore. The new hotel is located on the island's laid-back waterfront hub of Harbour Bay, near its Ferry Terminal, where a pleasant 40-minute high-speed ferry ride whisks both leisure and business travelers to and from Singapore, 32 kilometers away across the Singapore Strait. With its sophisticated spaces and inspired hospitality, the new Batam Marriott Harbour Bay promises to reinvent visitors' experience of th
Mali Carow Appointed General Manager of Upcoming Four Seasons Hotel and Private Residences New Orleans
Four Seasons Hotel and Private Residences New Orleans | October 1, 2020
NEW ORLEANS, La. – As the highly anticipated Four Seasons Hotel and Private Residences New Orleans continues to prepare for its grand opening next year, General Manager Mali Carow is overseeing every detail of what will be one of the largest hotels in the company’s portfolio. “For the past 20 years, Mali has brought her characteristic enthusiasm and energy into every role, and I can think of no one better to introduce Four Seasons to the great city of New Orleans. Her passion and global experience will be critical as we usher in a new chapter for this iconic property,” says Christian Clerc, President, Global Operations, Fo