Abu Dhabi hotels top world list for room rates growth

The UAE capital was the only city to record a growth of 5 percent in real terms in a bi-annual hotel survey by Hogg Robinson Group (HRG), an international business travel company

Read more:
http://www.arabianbusiness.com/564206-abu-dhabi-hotels-top-world-list-for-room-rates-growth

IFA Hotels reports $108m profit for fiscal year end

Kuwait-based IFA Hotels and Resorts announced on Sunday a KD30.85m ($108m) profit for the fiscal year ending June 2009.The leisure firm said its revenues for the period from June 2008 to June 2009 were KD52.8m and that its total assets had increased to KD338.26m, compared to KD277.88m the previous fiscal year

Read more:
http://www.arabianbusiness.com/564241-ifa-hotels-reports-108m-profit-for-fiscal-year-end

Burglars steal $15m from Saudi princess

The thieves used a master key. In 10 minutes at dinner time, without making any noise, they managed to remove the safe from a suite occupied by the Saudi princess," who was not named, the daily La Stampa reported.
The safe was only fixed with silicon to the wall into which it was embedded, it said.
According to the daily La Repubblica, the burglary sparked a diplomatic incident.

Read more:
http://uk.news.yahoo.com/18/20090809/twl-burglars-steal-15m-from-saudi-prince-3cd7efd.html

IHG profit slump could reach 40% but still room for manoeuvre

InterContinental Hotels Group (IHG), the world’s biggest hotel company, is expected to announce a 40 per cent fall in first-half profits tomorrow. However, it is also expected to increase its estimate of cost savings and to maintain the dividend.
The group, which owns such brands as Crowne Plaza and Indigo, is also expected to confirm that it remains on track with a $1 billion (£600 million) relaunch of its core Holiday Inn brand and has no plans to extend the deadline for franchisees to upgrade their hotels, despite the credit crunch.

Read more:
http://business.timesonline.co.uk/tol/business/industry_sectors/leisure/article6789272.ece

Blackstone Exploring Options To Break Up Hilton Hotels Group

RTTNews) - Sunday, reports said financial services provider Blackstone Group (BX: News ) is preparing to break up its Hilton Hotels Corp. business under plans to realize value from the group ahead of debt repayment deadlines three and four years away.

Read more:
http://www.rttnews.com/Content/BreakingNews.aspx?Node=B1&Id=1033500%20&Category=Breaking%20News