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REIT Gaming and Leisure Properties Inc., Inks Deal to Buy St. Louis’ Casino Queen for $140 million
December 10, 2013
Casino Queen to then lease back property from GLPI for approximately $14 million a year Dec. 10--A year after the Casino Queen became an employee-owned company, its owners have signed a deal to sell its real estate assets for $140 million and lease them back to pay down debt. Gaming and Leisure Properties Inc. (GLPI), a real-estate investment trust based in Wyomissing, Pa., announced Monday that it's buying Casino Queen's real estate assets in East St. Louis and will become its new landlord in the first quarter of 2014, pending approval from the Illinois Gaming Board. The initial lease is for 15 years, with an option to renew for four f
GoodSports Enterprises Proposes $22 M Fieldhouse/Hotel in Huber Heights, OH; Work Would Begin Q1 ‘14
December 10, 2013
Dec. 10--HUBER HEIGHTS -- The Huber Heights planning commission is scheduled to vote tonight on GoodSports Enterprises' plan to build a $22 million fieldhouse/hotel in the city. The fieldhouse and hotel will be built next to the city's $18 million music center, and staff is recommending the approval of GoodSports' detailed development plan. Construction is expected to begin in March, with a 10-month build-out for the fieldhouse and 12 months for the hotel, according to Anthony Homer, GoodSports vice president of development. "We're excited to be closer to sticking a shovel in the ground and getting it up and running," Homer said. "We're
Stash Hotel Rewards Expands Its New England Footprint by Partnering with The Lane Hotel
Colwen Hotel Management | December 9, 2013
Boutique Hotel Becomes First Independent Property in New Hampshire to Offer Stash Rewards Points KEENE, NH – December 10, 2013 – The Lane Hotel, one of New England's most historically unique hotels, announced today that it has partnered with Stash Hotel Rewards, the nation's largest point-based rewards program for independent hotels. As a result of this partnership, Stash members are now able to earn and redeem points at The Lane, the first independent hotel in the state of New Hampshire to offer a rewards program to its guests. "Partnering with Stash allows us to offer our guests a points program that's extremely competitive with t
Abu Dhabi, Dubai Hotels Lead Performers in Middle East & Africa as Hospitality Picks Up Momentum
December 9, 2013
Dec. 09--Abu Dhabi, Dubai hotels lead performers in Middle East, Africa. Dubai's hotel industry is one of the strongest performers in the Middle East and Africa with higher revenues and profitability despite slight decline in occupancy in October this year, latest reports have revealed. Abu Dhabi's hospitality sector also picked up momentum and recorded the highest rise in occupancy levels in the GCC with a 15.8 per cent increase to 76.7 per cent in October, while its 10.7 per cent surge in average daily rates, or ADR, to $172.77 was the largest increase in that metric in the region, according to data compiled by STR Global. The latest
RLP Development to Build 102-room Holiday Inn Express in Edwardsville, Illinois; Opening July 2014
December 9, 2013
Dec. 09--Edwardsville will soon have another hotel option as Robert Plummer, president of RLP Development, has announced the construction of a Holiday Inn Express. The hotel will be located on Plummer Drive between Vallow Floor Coverings and Edwardsville High School. The hotel will be four stories with 102 hotel rooms, conference rooms, board rooms, a swimming pool, workout room and a large foyer. Work on the site has already begun and July of 2014 is the projected opening date.
Tourism Matters: The Customer is King
December 9, 2013
Dec. 09--I cannot think of many, if not any, more important aspects of the hospitality industry than constantly listening and responding to your guest's comments, whether negative or positive. The customer is king. I recently stayed at two '4-star' hotels in the Florida Keys. The first, Hawks Cay, was excellent and met every expectation. The second, a major branded hotel, fell dramatically short and I thought that it was only constructive and objective to report our experience. Sadly, while staying at the hotel, management did not respond to concerns raised and as I had pre-paid in full, weeks prior to arrival, felt we did not have the
New Life for 60-key Delavan House Hotel, WI? Vacant Since 2004, New Owner Hopes to Re-Open by Q2 ‘14
December 9, 2013
Dec. 09--DELAVAN -- A key piece of Delavan's downtown redevelopment may finally be in place. Delavan House Hotel, which has remained vacant for nearly a decade, has been sold, and its new owner, Sean Patel, hopes to have the business open by May 1. Patel, a Chicago-based businessman, is part of a family group that owns the Super 8 in Delavan and a number of other hotels in southern Wisconsin and Northern Illinois. At a meeting Tuesday night, the Delavan City Council will consider a developer's agreement that would provide up to $250,000 for facade improvements and renovations to the main floor of the building. The agreement also could p
A Conversation with Atlantic City’s Revel Casino-Hotel President Scott Kreeger
December 8, 2013
Dec. 08--Q: Revel recently announced it is pursuing strategic alternatives, leading to speculation that the property is headed for another bankruptcy or a sale. What can you tell us about what's being considered and why? A: It's not speculation. It's a reality. There's a whole broad spectrum of opportunity. When we look at how quickly can we make Revel competitive in the marketplace ... we would be remiss if we didn't look for opportunities to potentially partner with folks, to do affiliation marketing programs with other casino companies, (the) potential of a joint venture partnership, (the) potential of a sale of the asset -- any numb