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China’s Online Tourism Sector May See More Integration, Acquisitions in 2014
April 12, 2014
April 12--BEIJING (China Daily/ANN) -- China's online travel industry may see more integration and acquisitions this year, driven by the giant Internet companies. LY.com and eLong Inc announced their cooperation on Thursday. Tencent Holdings Ltd, a shareholder in both of the online travel agencies, was seen as the guiding hand behind the agreement under which LY.com shares its allocations to scenic spots and ELong reciprocates with its hotel slots. "The cooperation with LY.com will bring 10 to 20 percent extra hotel business growth to eLong," eLong CEO Cui Guangfu said in a statement. Separately, Ctrip.com International Inc, Chna's larg
Silversands to Move Forward with Scaled-Down Long Beach, CA Hotel Project After Grander Plan Fails
April 12, 2014
April 12--A Taj Mahal-like hotel and condo project proposed next to Long Beach's Bixby Park was shot down on Friday by the state Coastal Commission, with Long Beach mayoral hopeful Robert Garcia siding with the 12-member board to scrap the $60 million complex. While getting the Coastal Commission's support was preferred, a spokesman for the developer says the vote doesn't matter. Instead, said Michael Murchison, a scaled-down complex approved before the Great Recession hit in 2007 will rise in place of the soon-to-be-demolished motel built 65 years ago. "A demolition permit will be pulled," Murchison said. "Now there will be no cafe. Th
Six Flags Signs Deal to Develop Amusement Park in Dubai to Open in 2017
April 11, 2014
April 11--GRAND PRAIRIE -- Grand Prairie-based Six Flags Entertainment Corp. is again attempting to broaden its international reach beyond North America into the Middle East. The theme park owner and operator said late Thursday that it is partnering with Meraas Leisure and Entertainment, a Dubai-based real estate development company, to open a Six Flags-branded park in Dubai in the United Arab Emirates. The project will open in 2017 and be located in a multi-themed park project in Jebel Ali, Six Flags said. Jebel Ali is Dubai's leading port. Terms of the deal were not disclosed, nor were details about the theme park's design. "The corne
China-Based Investment Firm Proposes Two-Tower Hotel-Condo Complex For Downtown Tacoma, Washington
April 11, 2014
April 11--City officials will ask Tacoma City Council approval Tuesday to begin negotiations with a Chinese-owned development company that seeks to build a twin-towered retail, hotel and condominium complex on a city parcel adjacent to Tacoma's convention center. The proposal by Yareton Investment and Management LLC calls for construction of a 300-room luxury hotel, 150 condominium units, a 400-car garage and a large retail space just south of the Greater Tacoma Convention and Trade Center. The convention center is located at South 16th and Commerce streets. Yareton is a Seattle-headquartered subsidiary of the Shanghai Mintong Real Esta
Hospitality Funding, LLC Advises on Acquisition of The Comfort Suites Park Place, Milwaukee, WI
Hospitality Funding | April 10, 2014
Palm Beach, FL — Hospitality Funding has facilitated the purchase of The Comfort Suites Park Place in Milwaukee, WI. The 120-room select service hotel is the fifth transaction in the last six months to be acquired through a $50 million equity Joint Venture and related $100 million debt facility raised by Hospitality Funding, LLC. Hospitality Funding advised the buyer group, which consists of a leading hospitality asset management firm and a US-based investment management company. When assessing the transaction, the buyer considered the following: The hotel is located minutes from the Milwaukee County Zoo and Marquette University, an
New Owners of 52-room Buck’s Barn Hotel in Thomson, IL Plan Upgrades and Re-Opening by Summer 2014
April 10, 2014
April 10--THOMSON, Ill. -- Two local men are doing what they can to put Thomson back on the map, and are hoping their newest business venture will be a swinging success. Ryan Eissens and Zac Vandendooren, both natives of Thomson, grew up playing golf on the village's 18-hole course formerly known as Buck's Barn. When the establishment shut down in the fall of 2011, both were disappointed to see a Thomson landmark no longer thriving and closing up shop. Because of that, the two took it upon themselves in March to get the facility back up and running under the name Sandburr Run Hotel and Golf Course. "I've lived in Thomson my whole life a
Top 2 Floors of Wilkes-Barre Best Western Genetti Hotel to be Converted into “Oyster Boutique Hotel”
April 10, 2014
April 10--WILKES-BARRE -- The top two penthouse floors of Best Western Genetti Hotel and Conference Center in downtown Wilkes-Barre will be converted into the new "Oyster Boutique Hotel," hotel owner Gus Genetti and Oyster Restaurant owner Thom Greco said this morning. Genetti said it will cost $200,000 to $250,000 to upgrade the rooms to create a small intimate luxury hotel with amenities such as new furnishings, technology and art. The rooms will cater to those looking for high-end rooms, he said. "The Best Western takes care of the leisure traveler and the corporate traveler, but we're missing the very high-end market," Genetti said.
Natchez, Mississippi Considers Convention Center Expansion Plans
April 9, 2014
April 09--NATCHEZ -- The City of Natchez is considering a proposal to fund a multi-million dollar expansion to the Natchez Convention Center by raising tourism taxes. Natchez Convention Center Director Walter Tipton and New Orleans Hotel Consultants President Warren Reuther presented a proposal for a $3 to $4 million expansion to the Natchez Board of Aldermen at its Tuesday meeting. Tipton and Reuther first made the proposal for an expansion to the city-owned center in March 2013 to the mayor and city officials. Tipton said Tuesday the expansion was planned for when the center was first built. "Everyone we talked to said, 'If you're suc