Marriott plans to join rivals such as Starwood, Hyatt and Hilton in dropping Internet-access charges in most full-service hotels for VIP customers.
As of Jan. 1, Marriott will drop the $10-to-$15 daily Internet fee for its gold- and platinum-level loyalty members at full-service Marriott-brand hotels outside North and South America, a company press release says. The announcement does not apply to stays at Marriott's most deluxe chain, Ritz-Carlton.
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Monday, September 13, 2010
Phil Falcone tries to buy Hooters Casino
Hedge fund bigwig Phil Falcone is bucking the odds in his bet to be the new owner of Hooters Casino Hotel, the Las Vegas venture launched in 2006 by founders of the popular restaurant chain.
Falcone, who runs the $8 billion New York hedge fund Harbinger Capital Management, bought the casino's troubled $130 million senior loan, putting him in a prime ownership position for when the casino seeks bankruptcy protection, sources tell The Post.
But there's a glitch: Falcone isn't allowed to own the casino.
The investment guru and avowed hockey nut -- who skated for Harvard in college -- made a mint shorting toxic mortgages in 2007 and used a small slice of that fortune to buy a 40 percent stake in the NHL's Minnesota Wild.
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Falcone, who runs the $8 billion New York hedge fund Harbinger Capital Management, bought the casino's troubled $130 million senior loan, putting him in a prime ownership position for when the casino seeks bankruptcy protection, sources tell The Post.
But there's a glitch: Falcone isn't allowed to own the casino.
The investment guru and avowed hockey nut -- who skated for Harvard in college -- made a mint shorting toxic mortgages in 2007 and used a small slice of that fortune to buy a 40 percent stake in the NHL's Minnesota Wild.
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Churchill Downs to Buy Harlow’s Casino Resort & Hotel for $138 Million
Churchill Downs (CHDN: 35.87 ,+0.49 ,+1.38%) said Monday it will buy Harlow’s Casino Resort & Hotel in Greenville, Mississippi for $138 million in an attempt to better diversify across its array of gaming businesses.
Harlow’s, which opened in November 2007, is currently owned by affiliates of private investment groups Levine Leichtman Capital Partners and Oak Hill Advisors, and private investor Jess M. Ravich.
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Harlow’s, which opened in November 2007, is currently owned by affiliates of private investment groups Levine Leichtman Capital Partners and Oak Hill Advisors, and private investor Jess M. Ravich.
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DiamondRock buys Hilton hotel in NY for $68.4M
DiamondRock Hospitality Co. said Monday that it purchased a Hilton hotel in New York for $68.4 million.
The real estate investment trust said it paid for the transaction with corporate cash.
The Hilton Garden Inn Chelsea New York City, which contains 169 rooms, opened in 2007.
DiamondRock CEO Mark Brugger said in a statement that the company wanted the hotel because the property has the "ability to charge essentially full-service room rates with a more profitable limited service cost structure as a result of its strong Hilton Garden Inn branding, access to Hilton Worldwide's powerful reservations system and traveler loyalty generated from the Hilton guest rewards program."
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The real estate investment trust said it paid for the transaction with corporate cash.
The Hilton Garden Inn Chelsea New York City, which contains 169 rooms, opened in 2007.
DiamondRock CEO Mark Brugger said in a statement that the company wanted the hotel because the property has the "ability to charge essentially full-service room rates with a more profitable limited service cost structure as a result of its strong Hilton Garden Inn branding, access to Hilton Worldwide's powerful reservations system and traveler loyalty generated from the Hilton guest rewards program."
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