California's $19 luxury hotel room without a bed

Destination California is not its usual robust self. Hotel foreclosures are up, room occupancy is down, and according to a report released by the Los Angeles County Economic Development Corporation (LAECD), "tourist activity literally fell off the table" at the end of last year. The picture is notably bleak in San Diego, where the average daily room rate fell by 13.1% in the first half of 2009.

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http://www.guardian.co.uk/travel/2009/aug/20/19-dollar-hotel-without-bed

Glenview hotel loan set to sell at big discount

(Crain’s) — A Georgia hotel investor has agreed to buy a loan on a Wyndham hotel in Glenview at a 60% discount as the property’s lender moves forward with a foreclosure suit.
Douglas Artusio, whose Chicago-area investments include a stalled River North hotel development, plans to buy the note on the Wyndham Glenview Suites, a transaction that ultimately would allow him to take control of the 253-room hotel, which was slapped with a foreclosure suit in February.

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http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=35180

Hotel Burnham misses interest payments

(Crain’s) — The owner of the Hotel Burnham in the Loop has stopped making interest payments on a $36-million loan, joining a growing list of local hotels that have run into loan trouble.
The drop-off in business and leisure travel this year has sent occupancies and room rates plunging at Chicago-area hotels, leaving many with little cash flow to cover loan payments.
The victims now include the Burnham, a historic 122-room hotel at 1 W. Washington St. owned by a joint venture between Chicago developers Dan McCaffery and E. Barry Mansur.

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http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=35178

Stanley Ho Shows He Makes Macau Money Vegas Men Can’t Replicate

Aug. 20 (Bloomberg) -- On a sultry June morning in Macau, casino billionaire Stanley Ho strode into the Venetian, the gambling palace of American archrival Sheldon Adelson, and reflected on life, death and how not to succeed in the world’s biggest gaming market.

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http://www.bloomberg.com/apps/news?pid=20601205&sid=atoSngbDQRzI

AFC Reports Financial Results for Second Quarter 2009; Announces Amendment to Credit Facility

ATLANTA Aug. 19 /PRNewswire-FirstCall/ -- AFC Enterprises, Inc. (Nasdaq: AFCE), the franchisor and operator of Popeyes , today reported results for its second fiscal quarter of 2009 which ended July 12, 2009, and announced an amendment to its current credit facility. The Company also updated earnings guidance for fiscal 2009 and provided an update on its strategic plan.

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http://phx.corporate-ir.net/phoenix.zhtml?c=125194&p=irol-newsArticle&ID=1322513&highlight=

Suit claims MGM Mirage misled shareholders

Multiple law firms announced Wednesday they are taking MGM Mirage to court on behalf of shareholders they say were damaged by misleading information about the gaming company's financial prospects.
At least one shareholder lawsuit against MGM Mirage was filed. It wasn't immediately clear if the law firms were participating in the same suit, or if they had filed separate suits.

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http://www.lasvegassun.com/news/2009/aug/19/suit-claims-mgm-mirage-misled-shareholders/

Notable Financing at Empire Resorts

MONTICELLO, N.Y.--(BUSINESS WIRE)--Empire Resorts, Inc. (NASDAQ: NYNY - News) (the “Company”) announced today that it has entered into an Investment Agreement with Kien Huat Realty III Limited (“Kien Huat”) under which $55 million in new equity capital will be invested in the Company in two tranches in exchange for Common Stock representing just under 50% of the voting power of the Company.

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http://seekingalpha.com/article/157187-notable-financing-at-empire-resorts?source=yahoo

Authorities investigate hacking of Radisson’s US computer systems

Federal authorities are investigating the hacking of computer systems which include guests’ names and credit card information, across various Radisson Hotels & Resorts in the United States and Canada.
The hotel group, whose major shareholder is US company Carlson, confirmed yesterday that its computer systems were accessed between November 2008 and May of this year.

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http://www.caterersearch.com/Articles/2009/08/20/329327/authorities-investigate-hacking-of-radissons-us-computer.html

Wyndham CEO: Vacation timeshare business still a bright spot for us

This the final installment of my Q & A with Wyndham CEO Steve Holmes.
Since Wyndham Worldwide's known for its vacation timeshare units, I asked him how that portion of the business is doing in light of the recession and the credit crunch. Earlier this year, Wyndham

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http://content.usatoday.com/communities/hotelcheckin/post/2009/08/68497366/1