Saturday, January 1, 2011

New Hampshire Bill would allow bars, restaurants to advertise happy hour

DOVER — The words, "Happy Hour," could once again be advertised by local restaurants and lounges if a recently elected state senator gets proposed legislation through.

Newly-elected New Hampshire State Senator Nancy Stiles is planning to introduce a bill that would let bars and restaurants advertise a happy hour outside their establishments.
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Majority Owner of Budget Portfolio Properties files for bankruptcy

A joint venture with a majority stakeholder based in Pittsburgh has filed for bankruptcy protection to avoid a $69 million foreclosure filing by Citizens Bank of Pennsylvania. Downtown-based FFC Capital Corp. is the portfolio manager and has a 90 percent stake in Budget Portfolio Properties LLC, a venture that owns 22 hotels in Minnesota, Wisconsin, Iowa, Michigan, Illinois and Texas.

Crain's Chicago Business reported this week that Citizens Bank had filed foreclosure cases for properties around Chicago seeking a return on a loan of nearly $66 million with accrued interest and late fees, according to filings in the U.S. Bankruptcy Court in Sherman, Texas.

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Kerzner upset with Baha Mar hotel deal

Kerzner International executives and the Prime Minister are remaining tightlipped for the time being on the outcome of a meeting recently held between Atlantis owner, Sir Sol Kerzner, and Mr Ingraham in which the hotelier's concerns about the $2.6 billion Baha Mar development were discussed.
 
Confirming that a "closed door" meeting did take place recently between Mr Ingraham and Sir Sol, senior vice-president of public affairs for Kerzner International (Bahamas), Ed Fields, said the company had no comment it could offer on the outcome at this time.

Meanwhile, pressed about the result of the Sir Sol meeting and the Government's response to his concerns over the Baha Mar project - including the alleged breach of contract perpetrated by the Government through giving the Baha Mar developer a "more favourable" agreement than Kerzner International got when building Atlantis - the Prime Minister told this newspaper on Wednesday: "Stay tuned!".

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New Brunswick Canada government looking to sell off hotel assets

For sale: Larry's Gulch, an exclusive salmon fishing retreat located on an eight-kilometre stretch of the Restigouche River. The property includes a series of cedar-shingled buildings and access to a famed fishing hole, where former Prime Minister Brian Mulroney and former U.S. President George Bush Sr. each dipped a line. Asking price: $1.2 million. Potential buyers should contact David Alward, premier of New Brunswick.

At this point, the Alward government fervently insists there are no plans to sell Crown-owned corporations and properties. But recent actions reveal the Conservatives are at least curious about the public's appetite for privatization.

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Creditors turn $555m Dubai Holding debt into new loan

Dubai and its government-linked companies have notched another in a series of financial restructurings, with a division of Dubai Holding agreeing with creditors to convert US$555 million (Dh2.03 billion) of debt into a new five-year loan.

Dubai Holding Commercial Operations Group (DHCOG), a unit of Dubai Holding that owns the Burj Al Arab hotel and the free-zones operator TECOM, reached the accord after months of negotiations with banks. The deal was announced in an e-mail late on Thursday. Dubai Holding is owned by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai.

The $555m revolving loan was originally due last July. With banks reluctant to refinance after the global financial crisis and DHCOG short of cash to repay the debt on schedule, however, the division received a two-month repayment extension as talks began about a restructuring. DHCOG lost about $6.2bn in 2009.

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Las Vegas hotel sued over harassment complaints

A Las Vegas hotel is being sued by a federal agency after multiple female employees complained that a male supervisor groped them.

The U.S. Equal Employment Opportunity Commission filed suit Thursday in U.S. District Court for Nevada in Las Vegas against the JW Marriott Las Vegas resort.

The Las Vegas Sun reports that the lawsuit says the supervisor rubbed against the female employees, placed his tongue into their ears and regularly made offensive remarks to them starting in 2003.
The lawsuit claims the hotel permitted the harassment.

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Fire breaks out in Seattle Crowne Plaza

A fire in a high-rise hotel in downtown Seattle was extinguished quickly Friday, and there were no injuries.
The fire in Crowne Plaza Hotel at 1113 Sixth Avenue began in a machine room. Flames shot from the 34-floor building and were visible from Interstate 5 about 4:30 p.m.

Seattle Fire Department Deputy Chief Earl Sodeman said the fire broke out on the 24th floor in an unoccupied room.

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