LONDON—InterContinental Hotels Group PLC said room rates, which fell during the recession, have started to rise in most markets as the return of business travelers continues to boost its revenue and profit.
The world's largest hotel operator by number of rooms said Tuesday that revenue per available room, or revpar—a key industry measure—rose 7.4% in the second quarter of the year, compared with a 0.2% rise in the first quarter. By July, revpar was up 8.1%. A 1% increase in revpar improves full-year operating profit by $13 million
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Tuesday, August 10, 2010
Soccer star David Beckham and chef Gordon Ramsay to open L.A. pub?
If you live in Los Angeles and you've been looking for a place where you can knock back a few pints, talk some soccer, maybe listen to some of the Spice Girls' greatest hits and, if you're lucky, witness a belligerent chef verbally abusing pretty much everyone ... well, you might not have to search much longer.
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Trump Entertainment May Seek Hotel Partner to Upgrade Plaza
Trump Entertainment Resorts Inc., the Atlantic City casino company that emerged from bankruptcy last month, said it may seek a hotel partner to renovate the Trump Plaza Hotel & Casino.
“One of the options is a joint venture, where we would probably donate the real estate,” Chief Executive Officer Mark Juliano said in an interview. The partner would “pump capital into the existing property, to both renovate it and add a new room tower,” he said.
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“One of the options is a joint venture, where we would probably donate the real estate,” Chief Executive Officer Mark Juliano said in an interview. The partner would “pump capital into the existing property, to both renovate it and add a new room tower,” he said.
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Gordon Ramsay stands to pocket £5m with TV firm sell-off
Years of financial woes have seen his global empire begin to crumble.
But it seems that after successive setbacks Gordon Ramsay may at last have some good news.
The chef is in line to make £5million by selling his 50 per cent stake in the TV company that makes all his shows.
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But it seems that after successive setbacks Gordon Ramsay may at last have some good news.
The chef is in line to make £5million by selling his 50 per cent stake in the TV company that makes all his shows.
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