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Best Western International Enters China / June 1998
February 28, 1998
Hotel Online Press Releases --- Best Western International Enters China --- PHOENIX, June 21, 1 1998 - The world's largest lodging brand just got a little larger with the recent addition of two new properties in China. The Best Western Wanyou Conifer and the Best Western Acorn Inn opened their doors last week and represent Best Western International's initial presence in the world's most populated country. The 332-room Best Western Wanyou Conifer Hotel is a new 30-story property in the heart of Chongqing, China. The luxury property has many amenities including in-room refrigerators and coffee, cable televi...
Michigan's Bay Valley Hotel & Resort Changes Hands / June 1998
February 28, 1998
Hotel Online Press Releases --- Michigan's Bay Valley Hotel & Resort Changes Hands --- Chicago, IL, June 19, 1998 -- Insignia/ESG Hotel Partners, Inc. has confirmed the sale of the 150-room Bay Valley Hotel & Resort, located on 176 acres in east-central Michigan. The property was sold by Starwood Lodging Trust to ANIRJOT Investment, Inc. for $6 million. Senior managing director John Karver of Insignia/ESG Hotel Partners' Chicago office represented the seller in this transaction. The Bay Valley Hotel & Resort is situated off Interstate 75 in Bay City, 20 minutes east of Midland, 100 miles ...
Gaming veteran, Cyndi Barnes added to HSI Major Account Sales Team / June 1998
February 28, 1998
Hotel Online Press Releases --- Gaming veteran, Cyndi Barnes added to HSI Major Account Sales Team --- BOCA RATON, Fla.--June 24, 1998-HSI, the Boca Raton based Point-of-Sale system provider, recently added gaming industry veteran Cyndi Barnes to it's Major Account Sales Team. Barnes brings over 20 years of hospitality related experience to HSI, with 10 years devoted to cruise ship, resort and casino based sales, support, installation and development. As a Major Account Sales Executive, Barnes' primary focus will reside with the gaming industry. Barnes' past successes while working in the Point-of-Sale...
Federal Judge Throws Out Sex Case Against California Department of Alcoholic Beverage Control / April 1998
February 28, 1998
Hotel Online Press Releases Federal Judge Throws Out Sex Case Against California Department of Alcoholic Beverage Control SACRAMENTO, Calif., April 20, 1998 - A Federal Judge today threw out a case filed against the California Department of Alcoholic Beverage Control (ABC) by the American Civil Liberties Union (ACLU) challenging the regulations governing sexually explicit displays in ABC licensed businesses. ABC Director Jay Stroh said, "We are very gratified the lawsuit was completely dismissed and the ABC regulations remain enforce. We will continue to uphold the law as enacted by the people of C...
Ibertech Acquires System Design Group for Back Office Solutions / April 1998
February 28, 1998
Hotel Online Press Releases Ibertech Acquires System Design Group for Back Office Solutions - HURST, TX, April 23, 1998 - Ibertech, developers of Aloha point-of-sale, announced today that it has acquired System Design Group (SDG) to provide a comprehensive back office solution fully integrated with the award-winning suite of POS solutions. SDG has provided Fastech Software to the foodservice and hospitality industries for more than 14 years. Fastech Software's extensive product line includes a state-of-the-art suite of restaurant operation control tools, such as inventory, the 'Enterprise messenger," and...
Il Fornaio Signs Lease for New Restaurant Concept at the Venetian Resort in Las Vegas; Canaletto / May 1998
February 28, 1998
Hotel Online Press Releases Il Fornaio Signs Lease for New Restaurant Concept at the Venetian Resort in Las Vegas; "Canaletto" Slated for Spring 1999 Opening CORTE MADERA, CA - May 14, 1998--Il Fornaio (America) Corp. (NASDAQ/NMS:ILFO) today announced it has executed a lease for a new 9,000 square foot restaurant in The Venetian, a Venice, Italy-themed resort, hotel and casino in Las Vegas, Nevada. The new restaurant, called Canaletto, is slated to open in concert with The Venetian's planned April 1999 opening of its first phase, a city within a city complex which includes over 3,000 luxury suite...
IATA Revises Forecasts for Pacific Asia Air Traffic Growth / PATA / May 1998
February 28, 1998
Hotel Online Press Releases IATA Revises Forecasts for Pacific Asia Air Traffic Growth PATA IATA's Revised Passenger Traffic Growth Forecasts European Outbound Travel Trends, 1997 International Tourist Arrivals in Vietnam by Transport, 1997 -- San Francisco, May 1998 The financial and economic turbulence in Asia during 1997 and its impact on the region's aviation market have led the International Air Transport Association (IATA) to review its medium-term air traffic growth forecasts for the region to 2001. Traffic growth levels to, from and within the region ha...
Hudson Hotels Corporation Announces Strategic Alliance With Hudson Hotels Trust / May 1998
February 28, 1998
Hotel Online Press Releases Hudson Hotels Corporation Announces Strategic Alliance With Hudson Hotels Trust ROCHESTER, N.Y.--May 22, 1998--Hudson Hotels Corporation (NASDAQ: HUDS) (the "Company") announced today that Hudson Hotels Trust ("the Trust") and the Company have agreed to form a Strategic Alliance to lease and manage hotels owned by the Trust. The Trust is a newly formed Maryland real estate investment trust ("REIT") which filed a registration statement with the Securities and Exchange Commission for the sale of 12,800,000 common shares in an initial public offering with Morgan Keagan & ...
Host Marriott Corporation Acquires Ritz-Carlton, Phoenix for a Total of $75 Million / May 1998
February 28, 1998
Hotel Online Press Releases Host Marriott Corporation Acquires Ritz-Carlton, Phoenix for a Total of $75 Million BETHESDA, Md., May 27, 1998 - Host Marriott Corporation (NYSE: HMT), in a $75 million transaction, has acquired the Ritz-Carlton, Phoenix and is in discussions with the Pivotal Simon Group on the joint development of an expansion to the luxury hotel. The 1998 Earnings Before Interest Expense, Taxes, Depreciation, Amortization and other non-cash items (EBITDA) from the hotel is projected to be $7.8 million. Mr. Terence C. Golden, president and chief executive officer, stated, "We are deli...
Homestead Village Reports 89% Increase in First Quarter EBDADT – Expanded Sales Force, Service Initiatives Drive Growth in Corporate Business /
February 28, 1998
Hotel Online Press Releases Homestead Village Reports 89% Increase in First Quarter EBDADT Expanded Sales Force, Service Initiatives Drive Growth in Corporate Business First Quarter 1998 Operating Property Performance ATLANTA, April 27, 1998 - Homestead Village Incorporated (NYSE: HSD), the leading developer, owner and operator of moderately priced extended-stay lodging facilities, today reported an increase of 89% in earnings before depreciation, amortization and deferred taxes (EBDADT) per diluted share to $0.17 in the first quarter of 1998, compared with $0.09 for the same period one year ago....
Crown Group Enters Hospitality Industry Via Extended-Stay Hotel Venture / May 1998
February 28, 1998
Hotel Online Press Releases Crown Group Enters Hospitality Industry Via Extended-Stay Hotel Venture DALLAS - May 27, 1998--Crown Group Inc. (NASDAQ:CNGR) today announced that it has acquired an 80% equity interest in Home Stay Lodges I Ltd., a recently-formed venture to develop and operate extended-stay lodging facilities in the Southeastern U.S. The Crown Group is a 79% limited partner of the venture and wholly owns the corporation which will be the general partner of Home Stay Lodges I Ltd. (and which has a 1% interest in the limited partnership). The Crown Group will initially invest $640,000 of e...
Bruce Holmes & Associates Sells Six Hotels / April 1998
February 28, 1998
Hotel Online Press Releases Bruce Holmes & Associates Sells Six Hotels OKLAHOMA CITY - April 12 - Bruce Holmes & Associates announced today the recent sale of six hotels in separate transactions. The properties sold include: The 175 room Sheraton Four Points Hotel in Wichita Falls, Texas has been purchased by Premier Hospitality Management of Durant, Oklahoma. The six story midrise was purchased for $4,150,000 or $23,714 per room. Premier plans to spend approximately $2,200,000 to convert the property to a Radisson Hotel. The transaction was completed in conjunction with Premier obtaining an...
Historic Stephen F. Austin Hotel Names General Manager / April 1998
February 28, 1998
Hotel Online Press Releases Historic Stephen F. Austin Hotel Names General Manager, Plans Re-Opening of the Luxury Property Near Year-End Austin, Texas, April 8, 1998 - After a year of demolition and careful planning, the historic Stephen F. Austin Hotel will undergo the final stages of it's restoration and grand re-opening under the guidance of Michael Chaffin, appointed General Manager last week. Mr. Chaffin most recently held the position of General Manager of the four diamond Omni Hotel, also located in downtown Austin. His full service and luxury hotel experience spans fifteen years in many loca...
Interactive Pictures and Hilton Team Up to Revolutionize Virtual Leisure and Business Travel / April 1998
February 28, 1998
Hotel Online Press Releases hilton.com Plans Virtual Hotel Tours With IPIX Technology; Interactive Pictures and Hilton Team Up to Revolutionize Virtual Leisure and Business Travel OAK RIDGE, Tenn.--(BUSINESS WIRE)--April 6, 1998--Hilton Hotels Corporation has chosen Interactive Pictures Corporation, the leader in immersive photography technology, to produce virtual tours of its hotel and resort properties on the company's web site at www.hilton.com. For the first time ever, with the click of a mouse, leisure and business travelers planning a trip or browsing the web will be able to take an IP...
Hilton Reports Strong Increases in First Quarter 1998 Earnings and EBITDA / April 1998
February 28, 1998
Hotel Online Press Releases Hilton Reports Strong Increases in First Quarter 1998 Earnings and EBITDA BEVERLY HILLS, CA -April 22, 1998 - Hilton Hotels Corp. (NYSE:HLT) Wednesday reported results for the first quarter ended March 31, 1998. Net income for the quarter totaled $77 million, or 29 cents per share on a diluted basis, compared with $68 million, or 26 cents per diluted share last year -- an increase of 12 percent in per share earnings. First quarter earnings before interest, taxes, depreciation, amortization and non-cash items (EBITDA) totaled $270 million, up 17 percent from last year's $23...
Harveys Casino Resorts Announces Shareholder Approval of Merger With Colony Capital, Inc. / May 1998
February 28, 1998
Hotel Online Press Releases Harveys Casino Resorts Announces Shareholder Approval of Merger With Colony Capital, Inc. LAKE TAHOE, Nev., May 14, 1998 - Harveys Casino Resorts (NYSE: HVY) announced today that the proposed merger with an affiliate of Colony Capital, Inc., a Los Angeles based real-estate investment firm, was approved by shareholders at the Company's May 14, 1998 Annual Meeting. Of the over ten million shares outstanding only two percent voted against the merger. "The overwhelming approval of the merger today reinforces our belief that this merger provides a tremendous value for our shareh...
The Grill On The Alley Opens At San Jose Fairmont Hotel; Debut Is Prelude To Potential Rollout In Other Locations / May 1998
February 28, 1998
Hotel Online Press Releases The Grill On The Alley Opens At San Jose Fairmont Hotel; Debut Is Prelude To Potential Rollout In Other Locations LOS ANGELES, May 18, 1998 - Grill Concepts, Inc. (Nasdaq: GRIL) today announced the restaurant opening of The Grill on the Alley at the prestigious San Jose Fairmont, a five-star luxury hotel in the heart of Silicon Valley. This is the second The Grill on the Alley, marking the rollout of the company's world renowned Beverly Hills-based flagship restaurant originally opened in 1984. The Grill in San Jose also marks the company's initial entry into a hotel ...
U.S. Gaming Revenue Growth to Drop by More Than 5O Percent This Year, Bear Stearns / April 1998
February 28, 1998
Hotel Online Press Releases U.S. Gaming Revenue Growth to Drop by More Than 5O Percent This Year Bear Stearns Global Gaming Almanac Says Challenges for Las Vegas - Good News for Gulf Coast and Tunica NEW YORK - April 14, 1998 - U.S. gaming revenues will grow 5.8 percent this year to $27.3 billion, down sharply from 1997, when gaming revenues grew 15.1 percent to $25.8 billion, according to the just-released 588-page 1998 Bear Stearns Global Gaming Almanac. Of all U.S. gaming markets, Las Vegas will be most severely challenged in the current environment, lodging and gaming analyst Jason Ader rep...
U.S. Gaming Commission Hears Ways to Improve Regulation / May 1998
February 28, 1998
Hotel Online Press Releases U.S. Gaming Commission Hears Ways to Improve Regulation By Fred Faust, St. Louis Post-Dispatch Knight Ridder/Tribune Business News CHICAGO--May 21--Gambling regulators can learn a lot from the way the government polices trading in stocks and commodities, experts on both markets testified Wednesday. Just as issuers of securities are required to disclose risks, casinos could be required to disclose the odds for all their games, suggested David Ruder, a former chairman of the Securities and Exchange Commission. Advertising should also be regulated more, he said, to prevent ca...
Recap: Chicago's two day National Gambling Impact Study Commission / May 1998
February 28, 1998
Hotel Online Press Releases Recap: Chicago's two day National Gambling Impact Study Commission By Fred Faust, St. Louis Post-Dispatch Knight Ridder/Tribune Business News CHICAGO--May 25--When the National Gambling Impact Study Commission held two days of hearings here last week, the primary focus was Midwestern riverboat gambling. But the Commission also spent an afternoon discussing Internet gambling. The witnesses before the Commission either wanted to prohibit Internet casinos or legalize and regulate them. For both groups, the question is whether either course is technically possible. The top...
Four Seasons Hotels Inc. Reports First Quarter 1998 Results; Assumes Management of Luxury Resort in Maldives / April 1998
February 28, 1998
Hotel Online Press Releases Four Seasons Hotels Inc. Reports First Quarter 1998 Results; Net Earnings Increase 33.7 percent to $7.7 Million; Four Seasons Assumes Management of Luxury Resort in Maldives Summary of Hotel Operating Data - Core Hotels TORONTO - April 28, 1998- Four Seasons Hotels Inc.(TSE:FSH.) (ME:FSH.) (NYSE:FS) today reported its results for the first quarter ended March 31, 1998. Net earnings increased 33.7 percent to $7.7 million ($0.23 basic and fully diluted earnings per share) for the three months ended March 31, 1998, as compared to $5.8 million ($0.19 basic and fully dilu...
Forecasting the Japanese Outbound Market / PATA / April 1998
February 28, 1998
Hotel Online Press Releases PATA Forecasting the Japanese Outbound Market Also Aviation Trends Market and Destination Trends Technotrends Food for Thought San Francisco, April 1998 By Jim Moritani Publisher, Travel Journal Inc., Japan There is a lot of talk in the Japanese travel industry about what will happen this year and in the longer term future. Well, nobody really knows. We can only predict what will happen, based on factors such as economic conditions, market trends and consumer behaviour. Many Asian destinations are facing major economic problems and their currencies have been gr...
FelCor Announces Plan to Purchase Eight All-suite Hotels From Starwood / April 1998
February 28, 1998
Hotel Online Press Releases FelCor Announces Plan to Purchase Eight All-suite Hotels From Starwood IRVING, Texas, April 20, 1998 - FelCor Suite Hotels, Inc. (NYSE: FCH), the largest non-paired hotel real estate investment trust (REIT), today announced the signing of an agreement to purchase eight all-suite hotels from Starwood Hotels Resorts (NYSE: HOT) for an aggregate cash purchase price of approximately $245 million. The closing, subject to due diligence and the satisfaction of certain conditions, is expected to occur at the end of April. Six of the eight hotels, following acquisition, are expec...
FelCor Suite Hotels Announces First Quarter 1998 Highlights and a First Quarter FFO Increase of 56% / April 1998
February 28, 1998
Hotel Online Press Releases FelCor Suite Hotels Announces First Quarter 1998 Highlights and a First Quarter FFO Increase of 56% IRVING, Texas, April 27, 1998 - FelCor Suite Hotels, Inc. (NYSE: FCH), the largest non-paired hotel real estate investment trust (REIT), today announced that first quarter 1998 funds from operations (FFO) totaled $41.7 million or $0.94 per share and unit as compared to the $26.7 million or $0.80 achieved during the first quarter of 1997, representing an increase in FFO per share and unit of 18%. First Quarter 1998 Highlights: FFO of $41.7 million or $0.94 per sha...
