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November 4th, 2024
MGM MIRAGE Invited to Submit Proposal for Singapore Casino / April 2005
February 28, 2005
Hotel Online Special Report MGM MIRAGE Invited to Submit Proposal for Singapore Casino (April 25, 2005) -- MGM MIRAGE has announced that it, along with its partner CapitaLand, has been invited by the Singapore government to submit a joint proposal for an integrated resort complex in the Marina Bayfront. "We are very pleased with the Government of Singapore's decision to move forward with plans to develop two integrated resorts," said Terry Lanni, Chairman and Chief Executive Officer of MGM MIRAGE. "We, along with CapitaLand, look forward to participating in the selection proces...
MGM Mirage Still Roaring; Properties Pull in Record Revenues / April 2005
February 28, 2005
Hotel Online Special Report MGM Mirage Still Roaring; Properties Pull in Record Revenues LAS VEGAS, Nev. (April 25, 2005) -- Unlike other casino operators that tipped their hands to Wall Street in recent weeks about better-than-expected first-quarter earnings, MGM Mirage kept a tight lid on its hole card. Only Tuesday, when the company announced quarterly earnings that exceeded all predictions, did MGM Mirage officials reveal they were concealing a stacked deck. "We never like to count our chickens before they hatch, but we were feeling pretty good about our numbers in Janua...
Government of Macau Gives Go Ahead for the $975 million 600 room MGM Grand Macau; The Resort Will be 50/50 Owned and Jointly Operated by Pansy Ho Chiu
February 28, 2005
Hotel Online Special Report Government of Macau Gives Go Ahead for the $975 million 600 room MGM Grand Macau - The Resort Will be 50/50 Owned and Jointly Operated by Pansy Ho Chiu-king and MGM MIRAGE LAS VEGAS, April 19, 2005 - MGM MIRAGE (NYSE: MGG) announced today that its joint venture partnership with Pansy Ho Chiu-king has been granted a subconcession which allows the partnership to develop and operate hotel and casino resorts in Macau. The subconcession has been approved by the government of Macau S.A.R. The initial project, to be called MGM Grand Macau, will be located on a prime waterfront site next to ...
MGM MIRAGE Completes $7.9 Billion Acquisition of Mandalay Resort Group / April 2005
February 28, 2005
Hotel Online Special Report MGM MIRAGE Completes $7.9 Billion Acquisition of Mandalay Resort Group LAS VEGAS, Nev. (April 26, 2005) -- MGM MIRAGE has announced that it has completed its $7.9 billion acquisition of Mandalay Resort Group . "This is an historic moment not just for our company, but for the industry," said Terry Lanni, Chairman and CEO of MGM MIRAGE. "The combination of MGM MIRAGE and Mandalay Resort Group creates the world's leading gaming, entertainment and leisure company. "There will be unrivaled opportunities in our dynamic new organization. Our dream combinat...
MGM Mirage Inc., Reports 1st Qtr Net Income of $111 million, Up 5% Over Prior Year; Room Rates, Gaming Volume Surge Up / Hotel Statistics / April 2005
February 28, 2005
Hotel Online Special Report MGM Mirage Inc., Reports 1st Qtr Net Income of $111 million, Up 5% Over Prior Year; Room Rates, Gaming Volume Surge Up Hotel Statistics LAS VEGAS, April 19, 2005 - MGM MIRAGE (NYSE: MGG) today reported its first quarter 2005 financial results. Adjusted earnings from continuing operations per diluted share ("Adjusted EPS") increased to an all-time record $0.87 in the first quarter of 2005, eclipsing the Company's previous best of $0.74 earned in the second quarter of 2004; the Company earned $0.70 in the 2004 first quarter. The strong earnings resulted from several positive factors, ...
February 28, 2005
Hotel Online Special Report ARAMARK Harrison Lodgings Mike Fahner Appointed as Member of IACCs Board of Directors PHILADELPHIA, Pa. April 21, 2005 Mike Fahner, vice president of development and marketing for ARAMARK Harrison Lodging, has recently been appointed a member of the International Association of Conference Centers (IACC) Board of Directors. He has been selected for his outstanding performance and dedication to the conference center industry. Fahner gained much of his experience in the conference center industry over the past 20 years. In his current role at ARAMARK, Fahner serves as vice pre...
San Francisco Convention & Visitors Bureau Names Makiko Cronin Online Marketing Manager and Cynthia Yuen as Markeging Programs Coordinator / April 200
February 28, 2005
Hotel Online Special Report San Francisco Convention & Visitors Bureau Names Makiko Cronin Online Marketing Manager and Cynthia Yuen as Markeging Programs Coordinator April 21, 2005 - Makiko Cronin has been promoted to online marketing manager and Cynthia Yuen has been named coordinator of marketing programs and promotions at the San Francisco Convention & Visitors Bureau (SFCVB). These new assignments are part of our ongoing efforts to further develop our online marketing strategies to promote and sell San Francisco, said Diane DeRose, SFCVB vice president of marketing. As online marketing manager, Cronin will ...
Marriott International, Inc. Reports Net Income for the 1st Qtr of $145 million, Up 27% Over Prior Year; 35% of 4,500 Rooms Added Were Conversions fr
February 28, 2005
Hotel Online Special Report Marriott International, Inc. Reports Net Income for the 1st Qtr of $145 million, Up 27% Over Prior Year - 35% of 4,500 Rooms Added Were Conversions from Competitor Brands Key Lodging Statistics WASHINGTON, April 21, 2005 - Marriott International, Inc. (NYSE: MAR) today reported diluted earnings per share (EPS) of $0.61 in the first quarter of 2005, up 30 percent from the 2004 first quarter. Net income for the quarter was $145 million, a 27 percent increase over the year ago quarter. Synthetic fuel operations contributed approximately $18 million ($0.08 per share) in the first quarter v...
M3 Hotel Accounting Reaches Milestone – 100 Hotel Management Companies / April 2005
February 28, 2005
Hotel Online Special Report M3 Hotel Accounting Reaches Milestone - 100 Hotel Management Companies Gainesville, GA, APRIL 15, 2005 M3, Inc. announces that 100 hotel management companies representing over 700 hotels, are now using their M3 Hotel Accounting Software. M3 was the first and is now the largest ASP, or Application Service Provider, in hospitality accounting. An ASP is a hosted application that relieves a hotel or management company from significant IT capital expense and allows them to focus their attention on servicing their guests instead of managing a computer infrastructure. This comprehensive ser...
Low Interest Rates and High Demand for Hotel Assets Fuels Value Gains / Canadian Lodging Outlook – February 2005 Year-to-Date
February 28, 2005
Hotel Online Special Report Low Interest Rates and High Demand for Hotel Assets Fuels Value Gains CANADIAN LODGING OUTLOOK February 2005 Year-to-Date The Canadian Lodging Outlook is a joint monthly publication of Smith Travel Research and HVS International, Vancouver and Toronto, Canada . By: Suzanne Mellen, MAI, CRE - HVS International - San Francisco The low interest rates which have characterized the hotel financing market over the past year, coupled with very strong demand for quality hotel assets, have lowered capitalization rates and are driving up hotel values. While the factors that are fueling thi...
The Most Expensive State for Vacationers is Hawaii at $518 per Day, The Least Expensive – Nebraska at $184; AAA Reports Lodging, Dining Costs fo
February 28, 2005
Hotel Online Special Report The Most Expensive State for Vacationers is Hawaii at $518 per Day, The Least Expensive - Nebraska at $184 - AAA Reports Lodging, Dining Costs for 50 States April 21, 2005 - Gas prices aren't the only expense increasing for vacation travelers this year. AAA's annual vacation costs survey reveals lodging and dining costs have increased a combined average of 5 percent since last year. AAA's survey shows that a family of two adults and two children can expect to pay an average of $247 per day for food and lodging. Lodging rates will average $129 a night, up 3.9 percent from last y...
Lauderdale Officials, Business Owners Not Thrilled About Hosting Meeting of the Organization of American States / April 2005
February 28, 2005
Hotel Online Special Report Lauderdale Officials, Business Owners Not Thrilled About Hosting Meeting of the Organization of American States FORT LAUDERDALE, Fla. (April 27, 2005) -- This city is in torment as it prepares to host the diplomatic meeting of the Organization of American States. Dollars are stretched. City officials are strained. Civil rights organizations are threatening lawsuits. And the hemispheric meeting is still more than a month away. "This conference isn't even here and I hate it," said Commissioner Cindi Hutchinson. "It's been a pain in my side since I f...
Public Support Strong for Las Cruces, N.M. Convention Center / April 2005
February 28, 2005
Hotel Online Special Report Public Support Strong for Las Cruces, N.M. Convention Center LAS CRUCES, N.M. (April 25, 2005) -- The first citywide formal survey of Las Cruces residents concerning a proposed convention or civic center shows what supporters of the center have said all along. Las Cruces wants a convention center. The results of a survey of 402 residents by Albuquerque firm Research and Polling Inc. were released in a public meeting on the proposed center Thursday night at City Hall. And according to the survey, 70 percent of residents either strongly support or ...
Larry May: The Passing Of Another Hotel Soldier / David Brudney ISHC / April 2005
February 28, 2005
Larry May: The Passing Of Another Hotel Soldier By David M. Brudney, ISHC, April 2005 The obituary read that veteran hotelier Larry James May died of a sudden heart attack last week in McCall, ID. He was 67. Those of us who had the pleasure of hotel soldiering with Larry these past four decades, will remember him as an innkeeper bigger than life, a cross between Father Flanagan, Tip ONeill and Santa Claus. Not many hotel general managers get featured in Fortune Magazine. Larry did. Larry successfully managed upscale hotels for Westin from Chicago to Atlanta, Houston to Los Angeles back in the 70s and early 80s befor...
La Quinta Boosts Company Owned Hotels through Alliance with Sleepwill Laboratories / April 2005
February 28, 2005
Hotel Online Special Report La Quinta Boosts Company Owned Hotels through Alliance with Sleepwill Laboratories On-property sleep labs provide an innovative use of inventory to help hotels achieve occupancy goals and boost revenue in local markets La Quinta Inn & Suites Phoenix Mesa West is the first La Quinta to open a Sleepwell facility Phoenix, AZ (March 31, 2005) Dallas-based La Quinta Corporation (NYSE:LQI) and Encino, California-based Sleepwell Laboratories announced the companies have reached an agreement to introduce Sleepwells state of the art sleep labs into company-owned La Quinta and Baymont hote...
La Quinta to Open Second New York City Property in Mid-May / April 2005
February 28, 2005
Hotel Online Special Report La Quinta to Open Second New York City Property in Mid-May - New 100-Room La Quinta Inn Queens, New York City, is Located Less than Two Miles from Mid-Town Manhattan and Ten Minutes from La Guardia Airport New York, NY (April 18, 2005) Proving once again that New York City is hot hot hot, La Quinta Corporation (NYSE:LQI) announced the planned opening of La Quinta Inn Long Island City, scheduled for the middle of May. Alan Tallis, President of La Quintas franchising subsidiaries and the Companys Executive Vice President and Chief Development Officer, said, The opening of th...
February 28, 2005
Hotel Online Special Report La Quinta Recognizes the Best of 2004 - La Quinta Inn & Suites-Stockbridge, Georgia Honored for Receiving the Best Quality Control Score in the Companys History DALLAS (April 19, 2005) LA QUINTA RECOGNIZES ATLANTA AREA HOTEL FOR QUALITY The La Quinta Corporation recognized general manager Nick Patel and the staff at the La Quinta Inn & Suites-Stockbridge (GA) as the recipients of the companys award for outstanding quality. Quality control inspectors visit each hotel in the La Quinta system, company-owned and franchised alike, several times a year. These inspecto...
The La Quinta Resort and Club Updates Beds, Adds iPods / April 2005
February 28, 2005
Hotel Online News for the Hospitality ExecutiveBy Carol Park, The Business Press, San Bernardino, Calif.Knight Ridder/Tribune Business News Apr. 4, 2005 - A La Quinta hotel spent more than $1 million to spruce up . The La Quinta Resort and Club spent $1 million on 850 beds and bedding and $8,000 for iPod players and Bose Sound Dock digital music systems. "The resort was built in 1926. Our goal is to keep up the Hollywood getaway style and provide guests with the most up-to-date luxuries and amenities to keep them happy," La Quinta Resort and Club spokeswoman Sara Harper said. The La Quinta Resort purchased the beds from Serta in Itasca...
Crown Realty & Development Plans to Acquire the Shuttered Mountain Shadows Resort; Wants to Raze Existing Buildings and Build a Boutique Hotel / Ap
February 28, 2005
Hotel Online News for the Hospitality ExecutiveBy Donna Hogan, The Tribune, Mesa, Ariz.Knight Ridder/Tribune Business News Apr. 6, 2005 - The California-based development company that bought and plans to makeover La Posada Resort in Paradise Valley is buying neighboring property Mountain Shadows, the 45-year-old shuttered hotel with still-open golf course that has been mired in controversy. Robert Flaxman, president of Crown Realty & Development, said Tuesday that he has "a definitive purchase agreement" for Mountain Shadows, but he would not say how much he is paying for it. Crown bought La Posada for nearly $31 million and budgeted...
Grand Casino Mille Lacs and Grand Casino Hinckley Select Lodging Management System from Agilysys / April 2005
February 28, 2005
Hotel Online Special Report Grand Casino Mille Lacs and Grand Casino Hinckley Select Lodging Management System from Agilysys Industry-Leading Software Chosen to Streamline Efficiency, Enhance Guest Service CLEVELAND April 11, 2005 Agilysys, Inc., (NASDAQ: AGYS) a leading provider of enterprise computer solutions and hospitality software solutions, announced that Grand Casino Mille Lacs in Onamia, MN and Grand Casino Hinckley in Hinckley, MN have selected the Lodging Management System (LMS), as well as modules LMS ResNet and LMS Guest Express kiosk to streamline operations and enhance guest service at the two ...
LaSalle Hotel Properties Posts 1st Qtr Net Loss of $2.9 million; RevPAR Up 10.3% Compared to Prior Year / Hotel Statistics / April 2005
February 28, 2005
Hotel Online Special Report LaSalle Hotel Properties Posts 1st Qtr Net Loss of $2.9 million; RevPAR Up 10.3% Compared to Prior Year Hotel Statistics BETHESDA, Md. - --April 20, 2005 -- LaSalle Hotel Properties (NYSE:LHO) today reported a net loss to common shareholders of $2.9 million, or ($0.10) per diluted share for the quarter ended March 31, 2005, compared to a net loss of $6.2 million, or ($0.25) per diluted share for the prior year period. For the quarter ended March 31, 2005, the Company generated funds from operations ("FFO") of $8.3 million versus $3.2 million for the same period of 2004. On a per diluted ...
Kimpton Hotel’s Mission is to Lead the Hospitality Industry in Supporting a Sustainable World / April 2005
February 28, 2005
Hotel Online Special Report Kimpton Hotel’s Mission is to Lead the Hospitality Industry in Supporting a Sustainable World SAN FRANCISCO, Calif. (April 8, 2005) - With the announcement of their national EarthCare program at Hotel Triton in San Francisco on April 7, 2005, Kimpton Hotels’ furthers its reputation as an industry leader in eco-friendly practices and standards. Kimpton EarthCare builds on Kimpton’s first steps towards environmental-consciousness in 1985 when the Galleria Park Hotel in San Francisco was introduced as an urban retreat with open space and a park with...
Big Island's Keauhou Beach Resort Re-branded an Outrigger; Property Enhancements Completed or Under Way / April 2005
February 28, 2005
Hotel Online Special Report Big Island's Keauhou Beach Resort Re-branded an Outrigger; Property Enhancements Completed or Under Way Kona, Hawaii - March 31, 2005 - The Keauhou Beach Resort on Hawaii's Big Island has been re-branded an Outrigger, and has completed or is undergoing a series of enhancements to its restaurants, banquet facilities and public areas. Formerly flagged as an OHANA property under Outrigger Hotels & Resorts, the Outrigger Keauhou Beach Resort encompasses 309 rooms located on prime oceanfront acreage, adjacent to tide pools sheltering sea turtles and reef fish, and Kahaluu Bay Beach Park. The ...
Downtown Kansas City, Missouri Hotel Changing Brand Name for the Fifth Time / April 2005
February 28, 2005
Hotel Online News for the Hospitality ExecutiveBy Kevin Collison, The Kansas City Star, Mo.Knight Ridder/Tribune Business News Apr. 19, 2005 - The Doubletree Hotel at 1301 Wyandotte St. is scheduled to switch chains for the fifth time in its 35-year history and start operating in May under the Radisson flag. The 28-story hotel opened in 1970 as a Holiday Inn, and then was renamed the Americana, followed by Omni, followed by Doubletree. The latest switch was made with an eye towards regional familiarity, said Richard C. Conti, president of Boykin Lodging Co., the Cleveland real estate investment trust that purchased the hotel in 1997....
