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Caesars Entertainment and VICI Properties Enter Into $400 Million Mortgage
Caesars Entertainment, Inc. | September 21, 2020
RENO, Nev. and LAS VEGAS, Sept. 21, 2020 -- Caesars Entertainment, Inc., (NASDAQ: CZR) ("Caesars," or "Caesars Entertainment") announced today its subsidiary's entry into a $400 million mortgage with a subsidiary of VICI Properties Inc. (NYSE: VICI) ("VICI Properties" or "VICI") that is secured by the CAESARS FORUM Conference Center in Las Vegas, in accordance with the previously announced letter of intent (the "LOI") entered into on June 15, 2020. The five-year mortgage will initially bear interest at a rate of 7.7% and will be pre-payable beginning in year three, subject to certain conditions (and may be prepaid earlier in the cas
Hospitality Financial Leadership: Venue Performance Peter Heath Interviews The Hotel Financial Coach
David Lund | September 21, 2020
David Lund, the Hotel Financial Hotel coach explains his views on why financial management is so important to Hotels and venues.
What Skills Does a Culinary Arts Professional Need?
EHL Insights | September 21, 2020
As a culinary arts professional, the more skills you have, the more valuable you are. And, as with any career, the more valuable you are, the more successful you will become and ultimately the more satisfied you will be with your professional life. In the culinary arts profession, it all boils down to your skillset. Following are some of the skills that a culinary arts professional needs in order to be successful. Whether you work in a fine hospitality establishment that caters to international guests, or you work in a small French bistro in the South of France, you’ll need to hone the following culinary skills. Passion for the Culinary
The Onus Lies With Us – Rebuilding Trust to Get Back Guests to Eat & Stay With Us!
Ajay Mehtani | September 21, 2020
By Ajay Mehtani, Dipti Mohan After a prolonged lockdown, our industry is gradually picking up the threads and rekindling operations with one of the immediate tasks being rebuilding guest confidence and trust. This is easier said than done as the guests are more cautious than ever and are watching closely! No amount of third-party certification will get you a repeat purchase if the guest does not feel ‘safe’ within your premises. You may have the most attractive offers, best revenue management practices, the best food and the best of everything else, however, if the guests don’t feel ‘safe’ then you have offered your hard-to-ge
STR: U.S. Hotel Performance for August 2020
STR | September 21, 2020
HENDERSONVILLE, Tennessee—The U.S. hotel industry showed slightly higher performance from the month prior, but at overall low levels during August 2020, according to data from STR. In a year-over-year comparison with August 2019, the industry recorded the following: Occupancy: -31.7% to 48.6% Average daily rate (ADR): -22.8% to US$102.46 Revenue per available room (RevPAR): -47.3% to US$49.83 The absolute occupancy level was the lowest for any August on record in the U.S., but all three key performance metrics were up from July levels. Recent September weekly data shows occupancy just below 50% due to a slight decrease in d
Condor Hospitality Terminates Merger Agreement With NHT Operating Partnership
Condor Hospitality Trust, Inc. | September 21, 2020
NORFOLK, Neb. - Condor Hospitality Trust, Inc. (NYSE American: CDOR) (the "Company") today announced that it has terminated its merger agreement with NHT Operating Partnership, LLC, the operating partnership of NexPoint Hospitality Trust (TSVX: NHT), and certain of its affiliates, effective September 18, 2020. Pursuant to its rights under the merger agreement, the Company terminated the merger agreement due to failure of NHT's operating partnership to consummate the acquisition of the Company and for material breaches of the merger agreement by NHT's operating partnership and its affiliates. Pursuant to the merger agreement, the Company i
Radisson Collection Hotel, Grand Place Brussels Opens Following Rebranding
Radisson Collection | September 21, 2020
Brussels - September 21, 2020 - Radisson Hotel Group is proud to announce the opening of the first Radisson Collection hotel in Belgium and Brussels, the heart of the European Union. The opening of the flagship Radisson Collection Hotel, Grand Place Brussels follows a remarkable transformation of the hotel, with significant investment to upgrade the former Radisson Blu Royal Hotel. Radisson Collection is Radisson Hotel Group’s premium lifestyle brand reserved for its most outstanding luxury properties, offering unique guest experiences, exceptional interior design, personalized services, and comprehensive guest amenities. The 282 room