Dec. 11 (Bloomberg) -- Carl Icahn agreed to buy most of bankrupt Trump Entertainment Resorts Inc.’s bank debt, pitting the billionaire investor against a bondholder reorganization plan for the casino operator supported by Donald Trump.
Icahn affiliates will buy Beal Bank’s secured loan, which is first in line among creditors, and agreed to back the lender’s reorganization plan for Atlantic City, New Jersey-based Trump Entertainment, according to a statement today.
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Sunday, December 13, 2009
Club Med Gains as Resort Earnings Beat Estimates, Bookings Jump
Dec. 11 (Bloomberg) -- Club Mediterranee SA, Europe’s largest resort owner, rose as much as 6.7 percent in Paris trading after operating profit beat some estimates and the company reported a jump in bookings for the last eight weeks.
The shares climbed as much as 93 cents to 14.85 euros, heading for the highest closing price since Oct. 23. They traded at 14.67 euros at 9:49 a.m
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The shares climbed as much as 93 cents to 14.85 euros, heading for the highest closing price since Oct. 23. They traded at 14.67 euros at 9:49 a.m
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Nakheel Possible Default to Affect $5.25 Billion Debt
Dec. 13 (Bloomberg) -- Nakheel PJSC’s possible non-payment of its Islamic bond due tomorrow will trigger defaults on two other securities, bringing the total of affected securities to $5.25 billion, bond documents show.
Investors are waiting to see if the Dubai state-controlled developer will pay the maturing $3.52 billion Islamic bond, known as sukuk. The Dubai government said on Nov. 25 that state- run holding company Dubai World is seeking a “standstill” agreement on its debt, including for the Nakheel unit.
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Investors are waiting to see if the Dubai state-controlled developer will pay the maturing $3.52 billion Islamic bond, known as sukuk. The Dubai government said on Nov. 25 that state- run holding company Dubai World is seeking a “standstill” agreement on its debt, including for the Nakheel unit.
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Booze Sitting on Docks Has Indonesia's Hospitality Sector in a Spin
Dozens of containers filled with wine and spirits are being held up by customs at the country’s largest port, causing restaurants and hotels to worry they will be unable to meet the Christmas and New Year holiday demand.
Yanti Sukamdani, the chairwoman of the Indonesian Hotel and Restaurant Association, said that shortages of wine and spirits had been occurring since early December
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Yanti Sukamdani, the chairwoman of the Indonesian Hotel and Restaurant Association, said that shortages of wine and spirits had been occurring since early December
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Ashford Hospitality Trust Inc. puts Dearborn Hyatt into receivership
Dallas hotel owner Ashford Hospitality Trust Inc. has agreed to put its Hyatt Regency hotel in Dearborn, Mich., into receivership.
The move helps Ashford (NYSE: AHT) and its lender avoid foreclosure on the hotel, and is the result of five months of negotiations with the lender, which the company did not identify in an announcement
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The move helps Ashford (NYSE: AHT) and its lender avoid foreclosure on the hotel, and is the result of five months of negotiations with the lender, which the company did not identify in an announcement
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Hard Rock opens the ultimate all-inclusive hotel.
Slated to be re-branded in Spring 2010, the 1800-room Hard Rock Hotel & Casino Punta Cana will combine the distinctive atmosphere and unparalleled guest experience of the Hard Rock brand together with the five-star Moon Palace Resort all-inclusive experience.
Hard Rock Hotel & Casino Punta Cana’s expansive 121-acre property rests on Macao Beach, one of the most beautiful, palm tree-lined beaches in the Caribbean that overlooks perfectly clear blue waters on the easternmost tip of the Dominican Republic.
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Hard Rock Hotel & Casino Punta Cana’s expansive 121-acre property rests on Macao Beach, one of the most beautiful, palm tree-lined beaches in the Caribbean that overlooks perfectly clear blue waters on the easternmost tip of the Dominican Republic.
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