The troubled Hilton Pittsburgh has dumped its latest manager after a court battle that pitted the Downtown hotel's owner against its lender.
Prism Hotels and Resorts of Dallas took over management of the Hilton last week, more than a month after Shubh Hotels Pittsburgh LLC, the hotel owner, sued to oust Virginia-based Crescent Hotels & Resorts, which had been hired in February.
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Wednesday, September 1, 2010
Trump casinos in Atlantic City buy out 6 top executives as new ownership takes over
ATLANTIC CITY — Casino operator Trump Entertainment Resorts Inc. is shaking up its executive ranks as it transitions to new ownership after emerging from Chapter 11 bankruptcy protection.
Six senior executives are leaving the company, including Rosalind Krause, general manager of Trump Taj Mahal Casino Resort and the only woman currently in charge of an Atlantic City casino.
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Six senior executives are leaving the company, including Rosalind Krause, general manager of Trump Taj Mahal Casino Resort and the only woman currently in charge of an Atlantic City casino.
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Official Launch of Top Hotel Chains. Com announced
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Find details about the chain, size, location, brands and most important: Headquarter contacts!
Explore your major leads in the hospitality industry with www.tophotelchains.com!
All hotel chains, all hotel groups and all major leads you'll find in our 24/7 access online database!
Start now with the free trial! Register on www.tophotelchains.com!
What is tophotelchains.com?
• A complete online database as a source of up to date, accurately researched, detailed
• Global hotel group data and analysis of each sector and brands
• Permanently updated
• Linked with tophotelprojects.com to evaluate all upscale sites under construction by group or brand or vice versa
Try out now for free:
Get your personal free trial access to tophotelchains.com!
Click here: http://www.tophotelchains.com/free_trial.php
Should you order until 30.09.2010 you will receive a special discount of 20% for the first year of subscription!
Revenue Management ‘Question Time’ to take centre stage at the 5th Annual BAHA Hospitality Finance Conference and IT Exhibition
The evolving discipline of ‘Revenue Management’ and its proven effectiveness in the current difficult trading conditions is one of the most important developments in hospitality finance today. With this in mind, a panel of distinguished hospitality revenue management experts will be taking centre stage, in a BBC ‘Question Time’ style presentation, to answer delegates’ questions on this increasingly important management practice at the 5th Annual BAHA Hospitality Finance Conference and IT Exhibition – to be held on Thursday, 25 November 2010 at the Sofitel Hotel, London Heathrow at Terminal 5.
‘Growing Profitability in an Uncertain Market – The Challenges to Come’ is the title of the 2010 one-day annual Conference of BAHA – the UK’s leading educational organisation for professionals involved in financial management, revenue management and IT within the hospitality industry. One of the highlights of the opening morning’s sessions will be ‘Revenue Management Question Time’ where the chairman’s hot seat will be taken by Michael Prager, Senior Vice President Sales Hilton EMEA (Europe, Middle-East and Africa). He will present questions, some submitted earlier in the day by delegates, to a team of expert panellists – including: Warren Mandelbaum, Head of Revenue Management, Whitbread Hotels & Restaurants; Ciaran Fahy, Managing Director, The Cavendish London; Moz Shigdar, Group Revenue Manager, BDL Hotels; Fabian Specht, Regional Managing Director EMEA, IDeaS; and Heather Hart, Managing Director, RevExcel, and Chair of BAHA’s newly formed Hospitality Revenue Management Community (HRMC) Forum, responsible for organising the ‘Question Time’ conference session – entitled ‘Revenue Management Drives the Commercial Success of an Organisation’.
“Revenue Management also will be the focus of a number of our educational workshops, which we will again be running – due to popular demand – at the 2010 BAHA Conference,” said BAHA Chief Executive Carl Weldon. “The new BAHA HRMC Committee, to be officially launched in London in October, will provide a major forum for debate, education, and generally raising the profile of the evolving discipline of ‘Revenue Management’.”
Details of other 2010 BAHA Annual Conference speakers will be announced shortly and will include leading international hotel chief executives, financial and business consultants, environmentalists, and senior hospitality IT Directors and gurus from the USA. As in previous years, the BAHA Annual Conference will be supported by a growing and increasingly influential exhibition of IT suppliers – providing delegates with a ‘one stop shop’ to view and interact with the latest and ‘best in class’ technologies – covering all eventualities for hospitality businesses, whether they be start-up, established independent, or multi chain-owned, operations.
In short, the 2010 BAHA one-day Conference and IT Exhibition promises to be invaluable for networking, professional updating – through expert presentations, panel forums and educational workshops – and experiencing Continuing Professional Development (CPD). The event’s grand finale Gala Dinner is one of the traditional social networking highlights of the BAHA Conference.
A special Early Bird 10% discount offer is available for bookings made before 30 September 2010. For regularly updated information on prices/packages and the 2010 BAHA Conference and IT Exhibition, visit the BAHA Conference Website: www.bahaconference.co.uk . For bookings and further details, contact Phillipa Graham and Wayne Gosden on telephone: 01202 889 430; fax: 01202 887 967; or email: admin@baha-uk.org
‘Growing Profitability in an Uncertain Market – The Challenges to Come’ is the title of the 2010 one-day annual Conference of BAHA – the UK’s leading educational organisation for professionals involved in financial management, revenue management and IT within the hospitality industry. One of the highlights of the opening morning’s sessions will be ‘Revenue Management Question Time’ where the chairman’s hot seat will be taken by Michael Prager, Senior Vice President Sales Hilton EMEA (Europe, Middle-East and Africa). He will present questions, some submitted earlier in the day by delegates, to a team of expert panellists – including: Warren Mandelbaum, Head of Revenue Management, Whitbread Hotels & Restaurants; Ciaran Fahy, Managing Director, The Cavendish London; Moz Shigdar, Group Revenue Manager, BDL Hotels; Fabian Specht, Regional Managing Director EMEA, IDeaS; and Heather Hart, Managing Director, RevExcel, and Chair of BAHA’s newly formed Hospitality Revenue Management Community (HRMC) Forum, responsible for organising the ‘Question Time’ conference session – entitled ‘Revenue Management Drives the Commercial Success of an Organisation’.
“Revenue Management also will be the focus of a number of our educational workshops, which we will again be running – due to popular demand – at the 2010 BAHA Conference,” said BAHA Chief Executive Carl Weldon. “The new BAHA HRMC Committee, to be officially launched in London in October, will provide a major forum for debate, education, and generally raising the profile of the evolving discipline of ‘Revenue Management’.”
Details of other 2010 BAHA Annual Conference speakers will be announced shortly and will include leading international hotel chief executives, financial and business consultants, environmentalists, and senior hospitality IT Directors and gurus from the USA. As in previous years, the BAHA Annual Conference will be supported by a growing and increasingly influential exhibition of IT suppliers – providing delegates with a ‘one stop shop’ to view and interact with the latest and ‘best in class’ technologies – covering all eventualities for hospitality businesses, whether they be start-up, established independent, or multi chain-owned, operations.
In short, the 2010 BAHA one-day Conference and IT Exhibition promises to be invaluable for networking, professional updating – through expert presentations, panel forums and educational workshops – and experiencing Continuing Professional Development (CPD). The event’s grand finale Gala Dinner is one of the traditional social networking highlights of the BAHA Conference.
A special Early Bird 10% discount offer is available for bookings made before 30 September 2010. For regularly updated information on prices/packages and the 2010 BAHA Conference and IT Exhibition, visit the BAHA Conference Website: www.bahaconference.co.uk . For bookings and further details, contact Phillipa Graham and Wayne Gosden on telephone: 01202 889 430; fax: 01202 887 967; or email: admin@baha-uk.org
Ruling scuttles plan to auction InterContinental O'Hare
(Crain's) — A bankruptcy judge has fueled new questions about the fate of the InterContinental Chicago O'Hare Hotel in Rosemont by siding with its lenders in a dispute over a plan to auction off the property.
The ruling Monday by U.S. Bankruptcy Court Judge Bruce W. Black represents a setback for the hotel's developer and owner, an affiliate of Rosemont-based Harp Group Inc., which had picked a venture led by New York investment firm Och-Ziff Real Estate as the preferred bidder in the bankruptcy auction. But an improving local hotel market bodes well for the hotel's value, potentially boosting the recovery for its creditors.
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The ruling Monday by U.S. Bankruptcy Court Judge Bruce W. Black represents a setback for the hotel's developer and owner, an affiliate of Rosemont-based Harp Group Inc., which had picked a venture led by New York investment firm Och-Ziff Real Estate as the preferred bidder in the bankruptcy auction. But an improving local hotel market bodes well for the hotel's value, potentially boosting the recovery for its creditors.
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Manitoba Officials to buy downtown Winnipeg hotels to cut down on drinking
Or, what else is there to do in Winnipeg except arm wrestle mosquito's.
The city and provincial liquor authorities are exploring the idea of buying out some downtown hotels and converting them into other uses in an effort to reduce the presence of intoxicated people along Portage Avenue and other streets.
But such a plan would require the creation of more social housing to prevent people with addictions and other mental health issues from simply moving into other areas of the city.
Back in July, city council approved a new Portage Avenue revitalization strategy that included a plan to improve the perception of safety along the downtown artery in an effort to make it more attractive to investors.
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The city and provincial liquor authorities are exploring the idea of buying out some downtown hotels and converting them into other uses in an effort to reduce the presence of intoxicated people along Portage Avenue and other streets.
But such a plan would require the creation of more social housing to prevent people with addictions and other mental health issues from simply moving into other areas of the city.
Back in July, city council approved a new Portage Avenue revitalization strategy that included a plan to improve the perception of safety along the downtown artery in an effort to make it more attractive to investors.
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3rd Hotel Robbed In Lehigh Valley In 3 Days
HANOVER TWP., Pa. -- Police are investigating the robbery of another hotel in the Lehigh Valley.
It's the third in the last three days. And they said it's linked to a recent string of hotel robberies. The latest hold-up happened at the Hampton Inn in Hanover Township, Northampton County around 4:00 this morning. They said a man with a gun went into the hotel and demanded money. They said they don't know how much he got away with. No one was hurt in the hold-up. About a dozen local hotels have been robbed this summer. Just yesterday, two people were hurt when the Super 8 on Airport Road in Allentown was robbed.
It's the third in the last three days. And they said it's linked to a recent string of hotel robberies. The latest hold-up happened at the Hampton Inn in Hanover Township, Northampton County around 4:00 this morning. They said a man with a gun went into the hotel and demanded money. They said they don't know how much he got away with. No one was hurt in the hold-up. About a dozen local hotels have been robbed this summer. Just yesterday, two people were hurt when the Super 8 on Airport Road in Allentown was robbed.
Hyatt Jacksonville owner falls behind on mortgage, seeks restructuring
The owner of the Hyatt Regency Jacksonville Riverfront has fallen behind on its $150 million mortgage and is seeking to restructure the loan, according to a report by a credit rating company. But the hotel's general manager said the loan negotiations are not affecting the operation of the 966-room downtown hotel.
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Hotel industry waiting Westin decision
star Westin will be off-limits to guests after a fight between receivers and suite owners.
Out-of-pocket investors fear receivers might disconnect electricity, phone, television and access to their rooms.
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Out-of-pocket investors fear receivers might disconnect electricity, phone, television and access to their rooms.
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KHI sells 43.7% holdings in Four Seasons Hotel Cairo
JEDDAH: Kingdom Hotel Investments (KHI), a subsidiary of diversified Saudi conglomerate Kingdom Holding Company (KHC) chaired by Prince Alwaleed Bin Talal, has completed the sale of its 43.7 percent minority interest in the Four Seasons Hotel Cairo at Nile Plaza, Egypt to Arab Company for Hotel and Tourism Investments (a subsidiary of the Egyptian based Talat Moustafa Group Holding Company), the majority shareholder of the referenced hotel, for cash proceeds of $145 million.
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Innkeepers USA gets OK for more DIP financing
The judge's decision overruled the objections of special servicer Trimont Real Estate Advisors Inc, which opposed the additional financing saying that Innkeepers did not need "that kind of leverage."
Lehman ALI, a unit of Lehman Brothers Holdings Inc (LEHMQ.PK) can provide as much as $17.5 million in financing to help fund hotel improvements and pay expenses, said U.S. Bankruptcy Judge Shelley Chapman at a New York hearing. Innkeepers' portfolio includes some Residence Inn and Hampton Inn hotels.
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Lehman ALI, a unit of Lehman Brothers Holdings Inc (LEHMQ.PK) can provide as much as $17.5 million in financing to help fund hotel improvements and pay expenses, said U.S. Bankruptcy Judge Shelley Chapman at a New York hearing. Innkeepers' portfolio includes some Residence Inn and Hampton Inn hotels.
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Secret auction for Nassau hotels
Two well-known hotels in Nassau once financed by the collapsed Lehman Brothers are being offered for sale in a secret auction, as their owners try to recoup cash from their assets.
The 246-room Paradise Island Harbour Resort and the 183-room Nassau Palm Hotel have been quietly put on the market, with a September 24 deadline set for bids from possible buyers.
The Palm Hotel has been without a general manager for at least two months and has “lost some market share due to its condition”, meanwhile its sister on Paradise Island is ranked 15th out of 15 on TripAdvisor for places to stay on the island, targeting the budget all-inclusive market but without free access facilities to its near neighbor Atlantis.
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The 246-room Paradise Island Harbour Resort and the 183-room Nassau Palm Hotel have been quietly put on the market, with a September 24 deadline set for bids from possible buyers.
The Palm Hotel has been without a general manager for at least two months and has “lost some market share due to its condition”, meanwhile its sister on Paradise Island is ranked 15th out of 15 on TripAdvisor for places to stay on the island, targeting the budget all-inclusive market but without free access facilities to its near neighbor Atlantis.
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Burger King Is in Talks Over Possible Sale
The status of the talks is unclear but one interested firm was 3i Group PLC, a British private-equity firm, these people said. It's uncertain whether these discussions will result in a sale.
Burger King has been a public company since 2006, but it already has passed through the hands of buyout firms. In 2002 a group led by TPG Capital LLC, Bain Capital LLC and Goldman Sachs Capital Partners bought the company for about $1.5 billion from Diageo PLC. They still own 32% of Burger King, and have significant representation on the company's board.
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Burger King has been a public company since 2006, but it already has passed through the hands of buyout firms. In 2002 a group led by TPG Capital LLC, Bain Capital LLC and Goldman Sachs Capital Partners bought the company for about $1.5 billion from Diageo PLC. They still own 32% of Burger King, and have significant representation on the company's board.
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