Saturday, June 5, 2010
Whitbread chief’s £5m pay perks
THE outgoing boss of Whitbread, the leisure group, has started collecting his pension, including a one-off payment of £5.4m, even though he does not retire until November.
Alan Parker, who has been at Whitbread for 18 years, the past six of them as chief executive, will be entitled to an annual payment of just over £135,000 on top of the lump sum he has already received.
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Alan Parker, who has been at Whitbread for 18 years, the past six of them as chief executive, will be entitled to an annual payment of just over £135,000 on top of the lump sum he has already received.
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MGM Mirage says it is paying CityCenter subcontractors
LAS VEGAS, Nevada -- MGM Mirage said in a court filing it has begun the process of paying subcontractors caught in the middle of its legal skirmish with CityCenter general contractor Perini Building Co.
The casino operator, which owns CityCenter in a 50-50 joint venture with Dubai World, said it is actively working through the closeout process with 25 of the 220 first-tier subcontractors who worked on the development. MGM Mirage said there are "hundreds" of lower-tier subcontractors who are also owed for their work on CityCenter.
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The casino operator, which owns CityCenter in a 50-50 joint venture with Dubai World, said it is actively working through the closeout process with 25 of the 220 first-tier subcontractors who worked on the development. MGM Mirage said there are "hundreds" of lower-tier subcontractors who are also owed for their work on CityCenter.
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Toronto hotel workers threaten strike during G20 summit
OTTAWA — Hotel workers in Toronto threatened Thursday to strike and picket at least one hotel where journalists and a French delegation have reservations to attend the G20 summit at the end of June.
Unionized workers at 32 grand hotels in the Canadian metropolis voted overwhelmingly in favor of a strike, said Unite Here Canada spokesman Paul Clifford.
Clifford said one hotel, the Novotel Toronto Centre owned by French firm Accor, may see pickets as early as June 24 through the June 26-27 G20 summit.
The hotel is to house journalists and part of the French G20 delegation.
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Unionized workers at 32 grand hotels in the Canadian metropolis voted overwhelmingly in favor of a strike, said Unite Here Canada spokesman Paul Clifford.
Clifford said one hotel, the Novotel Toronto Centre owned by French firm Accor, may see pickets as early as June 24 through the June 26-27 G20 summit.
The hotel is to house journalists and part of the French G20 delegation.
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Inside The World's Largest Hotel Company
IHG (InterContinental Hotels Group) is the world's largest hotel company, with 650,000 rooms globally and 450,000 in the Americas. Primarily using a franchise operating model, IHG's 3,400 hotels in the Americas include brands like InterContinental (165 hotels), Crowne Plaza (400 hotels) and Holiday Inn and Holiday Inn Express, their largest brands, representing 75% of their rooms.
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Starwood Capital buys stake in hotel management co
Private equity firm Starwood Capital has bought a 49.9 percent stake in privately held Hersha Hospitality Management to form a partnership to tap into management opportunities in the lodging space.
Starwood Capital, led by Barry Sternlicht -- founder of Starwood Hotels and Resorts (HOT.N) -- will contribute capital and deal-flow to the partnership.
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Starwood Capital, led by Barry Sternlicht -- founder of Starwood Hotels and Resorts (HOT.N) -- will contribute capital and deal-flow to the partnership.
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Many US hotels lack fire sprinklers
A fast-moving fire that killed four college students in a suburban Birmingham motel illustrates a deadly problem facing travelers around the country: Many older hotels and motels can legally avoid installing sprinklers that stop blazes before they kill guests.
Since a catastrophic fire killed 87 at the MGM Grand Hotel in Las Vegas in 1980, a national push to require sprinkler systems in new hotels and motels has helped bring fire deaths down significantly.
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Since a catastrophic fire killed 87 at the MGM Grand Hotel in Las Vegas in 1980, a national push to require sprinkler systems in new hotels and motels has helped bring fire deaths down significantly.
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