A company planning to renovate and reopen a Las Vegas hotel on Paradise Road has sued bankrupt Lehman Brothers Holdings Inc. in hopes of blocking a foreclosure sale of the property.
A/P Hotel LLC filed suit against Lehman Brothers on Tuesday in Clark County District Court.
At issue is the closed Atrium Suites Las Vegas hotel, 4255 S. Paradise Road, next to the Hard Rock hotel-casino. The non-gaming hotel was previously known as the Crowne Plaza.
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Friday, October 2, 2009
Schapiro Says SEC Will Discuss Transition To IFRS This Fall
WASHINGTON -(Dow Jones)- Securities and Exchange Commission Chairman Mary Schapiro said Friday that this fall she expects the agency to address its " expectations" for the potential future adoption of a set of global accounting standards.
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G-20: Achieve Single Set of Global Accounting Standards by June 2011
In an agreement reached Friday to make dozens of changes to the regulation of financial markets, systems and institutions, the leaders of the G-20 called on “international accounting bodies to redouble their efforts to achieve a single set of high quality, global accounting standards within the context of their independent standard setting process, and complete their convergence project by June 2011.”
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O’Hare-area hotel faces foreclosure
(Crain’s) — The owner of a Best Western hotel in Rosemont that’s also home to sports bar Shoeless Joe’s Ale House & Grille has been hit with an $11.6-million foreclosure lawsuit.
Blue Ribbon Hospitality (Hotel) Rosemont LLC defaulted this summer on a loan issued three years ago on the 141-room property, 10290-10300 W. Higgins Road, according to a complaint filed Sept. 9 by an affiliate of LNR Property Corp. Blue Ribbon already has agreed to the appointment of a receiver, the complaint says.
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Blue Ribbon Hospitality (Hotel) Rosemont LLC defaulted this summer on a loan issued three years ago on the 141-room property, 10290-10300 W. Higgins Road, according to a complaint filed Sept. 9 by an affiliate of LNR Property Corp. Blue Ribbon already has agreed to the appointment of a receiver, the complaint says.
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Lawyers drop out of Miami Fontainebleau case
Lawyers defending the Fontainebleau Miami Beach against more than $60 million in construction claims dropped out of the case Thursday as contractors accused the resort of stall tactics amid a lack of cash.
Bilzin Sumberg, a prominent Miami firm, won court permission to drop the dozens of cases against South Florida's largest resort. A judge agreed to delay depositions and mediation until December, Fontainebleau's deadline to find new lawyers.
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Bilzin Sumberg, a prominent Miami firm, won court permission to drop the dozens of cases against South Florida's largest resort. A judge agreed to delay depositions and mediation until December, Fontainebleau's deadline to find new lawyers.
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Watergate hotel set for sale
The famed Watergate Hotel in Washington D.C. is under contract to be sold by PB Capital, a unit of the German Deutsche Postbank AG, to a venture led by Holland Development Group for a price that is expected to be in the $40m range, according to people familiar with the transaction.
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The world's oldest hotel - open nearly 1300 years
Still has original Bellman . . .. (OK maybe not)
It's said that less than one in five businesses started today will be around in five years' time - which puts this story into perspective. Hōshi Ryokan is a hotel and spa in Komatsu, Japan. It has been owned and run by the same family for 46 generations so far, and its famous hot springs have been refreshing and revitalizing its patrons for no less than 1291 years
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It's said that less than one in five businesses started today will be around in five years' time - which puts this story into perspective. Hōshi Ryokan is a hotel and spa in Komatsu, Japan. It has been owned and run by the same family for 46 generations so far, and its famous hot springs have been refreshing and revitalizing its patrons for no less than 1291 years
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O'Charley's hires Famous Dave's CEO Wilson Craft
NASHVILLE, Tenn. (AP) -- Casual dining chain O'Charley's Inc. said Thursday it has named the former CEO of Famous Dave's of America, Wilson Craft, to the position of concept president.
Craft, 56, will be in charge of strategy to enhance sales, profitability and long-term growth. He replaces Jeffrey Warne, who was promoted to the O'Charley's CEO post on June 4.
Craft was previously executive vice president of operations at LongHorn Steakhouse, before Darden Restaurants Inc. bought it from RARE Hospitality International. He also worked at Brinker International for 21 years on the Chili's Grill & Bar, Big Bowl Asian Kitchen and other brands.
Nashville, Tenn.-based O'Charley's also said it gave Craft 150,000 non-qualified stock options.
O'Charley's shares fell 31 cents, or 3.3 percent, to $9.06 in afternoon trading.
Craft, 56, will be in charge of strategy to enhance sales, profitability and long-term growth. He replaces Jeffrey Warne, who was promoted to the O'Charley's CEO post on June 4.
Craft was previously executive vice president of operations at LongHorn Steakhouse, before Darden Restaurants Inc. bought it from RARE Hospitality International. He also worked at Brinker International for 21 years on the Chili's Grill & Bar, Big Bowl Asian Kitchen and other brands.
Nashville, Tenn.-based O'Charley's also said it gave Craft 150,000 non-qualified stock options.
O'Charley's shares fell 31 cents, or 3.3 percent, to $9.06 in afternoon trading.
Restaurants at the Crossroads: A State By State Summary of Key Wage-and-Hour Provision Affecting the Restaurant Industry
Restaurateurs face a remarkable tangle of laws and regulations that on their face are meant to protect workers, but which often serve to create a confusion for operators—and employment for labor attorneys. While many states simply apply federal wage and hour laws, others have been active in passing their own statutes, which set regulations that are more stringent than those of the federal goverment.
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Domino’s Pizza (U.K.) expects bumper year after third-quarter sales surge
Domino's Pizza expects to exceed expectations for the full financial year after boosting sales by more than 10% in the third quarter. The pizza takeaway chain saw like-for-like sales rise by 10.8% in the 13 weeks to September 27 as marketing campaigns, including its sponsorship of ITV show Britain's Got Talent, helped to boost trading.
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MGM Mirage ends $782M debt exchange offer because not enough holders accept the deal
LAS VEGAS - Casino operator MGM Mirage said Thursday that it has ended a debt exchange offer because not enough debt holders accepted the deal.
The offer gave holders the chance to exchange up to $782 million in 8.5 percent senior notes due in 2010 for up to $500 million in 10 percent senior notes due in 2016.
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The offer gave holders the chance to exchange up to $782 million in 8.5 percent senior notes due in 2010 for up to $500 million in 10 percent senior notes due in 2016.
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Latest results for HotStats European Chain Hotels Market - August 2009
All the cities in the HotStats European Chain Hotels survey suffered a drop in RevPAR during August compared to the same month a year ago. But the rate of decline for most cities was slower than for the first eight months of the year.
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Boston Hyatts swap outsourcing firms
The three Boston Hyatts have ended their contract with Hospitality Staffing Solutions, an outsourcing company the hotels used to replace 98 staff housekeepers, and installed United Service Cos. in its place.
The housekeepers who were working for Hospitality Staffing will now be employed by United and will retain their Hyatt jobs at the same wage of $8 an hour.
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The housekeepers who were working for Hospitality Staffing will now be employed by United and will retain their Hyatt jobs at the same wage of $8 an hour.
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