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Fertitta’s $700 million Golden Nugget Off to a Fast Start in Lake Charles, Louisiana
December 9, 2014
Dec. 09--LAKE CHARLES, La. -- They come in chartered buses and suburban sedans from Houston, Galveston and Beaumont, from San Antonio and Austin. By the hundreds of thousands each year, they crest the Calcasieu River Bridge and enter a sparkling world where they can roll dice, feed slot machines and take a shot at fortune in ways that are illegal back home. Over the last two decades, gamblers from Texas have helped transform this blue-collar petrochemical town in southwestern Louisiana into a vibrant tourist destination anchored by waterfront casinos. What it lacks in Vegas pizazz, it makes up for in proximity. It's barely a three-hour
Amid Casino Woes, Atlantic County, NJ Loses 9,900 Jobs in 12 months, the Worst in the Nation
December 9, 2014
Dec. 09--The full extent of Atlantic City's economic turmoil showed up in October's metropolitan-area employment report released Tuesday by the Bureau of Labor Statistics. Atlantic County, which is home to Atlantic City, lost 9,900 jobs in the 12 months ended October 31, as four of the city's dozen casinos closed. A fifth, the Trump Taj Mahal, could close Dec. 20. The next-biggest job loss nationally -- 2,200 -- was recorded in Davenport, Iowa, and two nearby cities across the Mississippi River in Illinois. Atlantic County was also tops in percentage terms, losing 7.3 percent of its jobs in during that period. The nearby Ocean City regi
Two Hotels for South Norwalk, CT? Deals Appear in the Making
December 9, 2014
Dec. 09--NORWALK -- An upscale, 150-room boutique hotel could fly on the 95/7 site in South Norwalk, but a second hotel already approved for nearby South Main Street would complicate the picture. That is among the findings of a recently completed market demand study conducted by the Norwalk Redevelopment Agency for 95/7 developer General Growth Properties, Inc. (GGP). "At the time of writing of this report, there is an extended stay property that is being considered for the market," reads a portion of the 45-page study. "Based on conversations with the client, as this is in the very preliminary stages, it has not been included in our an
HeBS Digital Takes Home Multiple 2014 HSMAI Adrian Awards
HeBS Digital | December 8, 2014
HeBS Digital has been awarded for excellence in hospitality digital marketing by receiving seven HSMAI Adrian Awards, including two Gold Awards. The HSMAI Adrian Awards recognize outstanding achievements in advertising, public relations, and digital marketing in the hospitality and travel industries. New York, NY - December 8, 2014 - HeBS Digital, the industry's leading digital technology, full-service hotel digital marketing, website design and direct online channel consulting firm, has been awarded once again for excellence in digital marketing by receiving seven HSMAI Adrian Awards this year. The HSMAI Adrian Awards recognize the bes
Hilton Signs 123-key DoubleTree Resort by Hilton Fiji – Sonaisali Island to Open Early in 2015
DoubleTree By Hilton | December 8, 2014
December 08, 2014 - SYDNEY, Australia - Hilton Worldwide today announced the signing of DoubleTree Resort by Hilton Fiji - Sonaisali Island. The property will be the first DoubleTree by Hilton branded hotel to open in Fiji. "We are proud to be flying the DoubleTree by Hilton flag in yet another exciting market - truly exemplifying the strength and momentum of the brand on an international scale," said John Greenleaf, global head, DoubleTree by Hilton. "Guests at the DoubleTree Resort by Hilton Fiji - Sonaisali Island will be welcomed by the familiar warm hospitality and service that is consistent with the more than 400 DoubleTree by Hil
Mortgage Prepayment Penalties – To Prepay or Not to Prepay, That is the Question
Brian Holstein | December 8, 2014
by Brian Holstein, US Hotel Advisors Are you, like most of the hotel world, evaluating an exciting amount of potential acquisitions, new developments and property renovations? Are you nervous about the $350 billion of CMBS loan maturities looming over the next three years? You're probably in awe of how low interest rates have remained and how loose the loan markets have been, especially given where we came from a few years ago. Perhaps you are eager to capture trapped equity behind a mortgage you put in place on a steal of an acquisition during the downturn. Whatever makes you excited…or anxious about the next few years, you&
AC Hotels by Marriott Debuts in North America with Opening of 220-room AC Hotel New Orleans Bourbon
AC Hotels by Marriott | December 8, 2014
New Orleans, Louisiana - December 8, 2014 – Marriott International, Inc. (NASDAQ: MAR) announced today the opening of the AC Hotel New Orleans Bourbon, celebrating the official entrée of AC Hotels by Marriott into North America. Originally founded in 1998 by renowned Spanish hotelier Antonio Catalan, AC Hotels is one of the most well-known hotel brands in Spain. Following its success in Europe, a joint venture was formed with Marriott International in 2011 establishing AC Hotels by Marriott as a lifestyle brand within the company's global portfolio. Speaking at an event in New Orleans today, Arne Sorenson, President and Chief Executi
Washington’s 128-room Hampton Inn & Suites Bellevue Downtown-Seattle Opens
Hampton Hotels | December 8, 2014
Owned by Palmetto Hospitality and Managed by OTO Development December 08, 2014 - MCLEAN, Va. - Hampton Hotels today announced the opening of its 2,000th hotel, Hampton Inn & Suites Bellevue Downtown-Seattle. The new hotel continues the longstanding Hampton tradition of providing guests with a friendly and caring experience backed by a 100% satisfaction guarantee. The 128-room hotel, owned by Palmetto Hospitality and managed by OTO Development, will mark the occasion with a special opening celebration on Thursday, December 11. "We're thrilled to reach this important milestone of 2,000 hotels worldwide, representing how far Hampton ha