July 5 (Bloomberg) -- Kingdom Holding Co., the investment company controlled by Saudi billionaire Prince Alwaleed Bin Talal, and its hotels unit may sell minority stakes held in hotels as part of a plan to focus on higher-earning properties.
Kingdom has a “handful” of assets where it owns a 50 percent stake or less, and it “will assess the viability” of those holdings and may sell them to reinvest in the same industry, Sarmad Zok, chief executive officer of the lodging unit Kingdom Hotel Investments, said by phone from New York on June 30. He declined to identify the properties.
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Sunday, July 4, 2010
Las Vegas Harmon Hotel stuck in limbo
CityCenter's most famous architect is also its least publicized. His name is Norman Foster. He is a globetrotting superstar with books and museum exhibits dedicated to his work. "Stormin' Norman," as the British press calls him, serves as chairman of London-based Foster + Partners, an architecture, design and planning firm responsible for famous buildings across Europe and Asia, including the Hongkong and Shanghai Bank headquarters and Reichstag New German Parliament. The Harmon Hotel at CityCenter was to be Foster's Las Vegas debut.
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On the Spot: TripAdvisor vs. the hotel
Question: I recently found a notice on TripAdvisor about the hotel I manage that said TripAdvisor thinks “individuals or entities associated with or having an interest in this property may have interfered with traveler reviews and/or the popularity index for this property.” Now I’ve received an e-mail that says this is a violation of TripAdvisor policy and in some places a violation of federal law. Neither my staff nor I did anything wrong. Now what?
– S. Benham, San Diego
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– S. Benham, San Diego
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Phoenix hotels letting guests go greener
PHOENIX (AP) - Guests checking into the Westin Kierland Resort and Spa or Sheraton Phoenix Downtown Hotel can do more than order breakfast or request privacy by hanging a card outside their door.
They can also decline daily housekeeping service.
The hotels are among a small but growing group who have taken their in-room "green" initiatives up a notch, adding the option of no cleaning on top of existing options to reuse towels and forego fresh sheets.
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They can also decline daily housekeeping service.
The hotels are among a small but growing group who have taken their in-room "green" initiatives up a notch, adding the option of no cleaning on top of existing options to reuse towels and forego fresh sheets.
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New Law Aloows New York City To Crack Down On Illegal Hotels
ALBANY - A bill passed by the Legislature would give the city greater power to crack down on illegal hotels being run out of apartment buildings.
The bill is designed to thwart a growing problem of landlords renting apartments as hotel rooms to get more money than rent laws allow. It has led to the removal of thousands of apartments "from an already tight housing market," said state Sen. Liz Krueger (D-Manhattan), the bill's sponsor.
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The bill is designed to thwart a growing problem of landlords renting apartments as hotel rooms to get more money than rent laws allow. It has led to the removal of thousands of apartments "from an already tight housing market," said state Sen. Liz Krueger (D-Manhattan), the bill's sponsor.
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