More than two years ago, developers announced plans to turn the Lambert Beach Resort into a $200-$250 million, five-star establishment. Today, ground has yet to be broken on the project, and the resort’s future is murky. But there are at least two possible scenarios.
A pending partnership with developer Mark Vanterpool and the mega-resort conglomerate Raffles could transform the resort into the proposed establishment; or the land could be auctioned off in whole to the highest bidder.
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Tuesday, September 22, 2009
160,000 applications later, CityCenter makes job offers
CityCenter began making employment offers to hundreds of workers Monday in preparation for the project's opening later this year, bringing hope to those who have been unemployed and new opportunities for others looking to make a change.
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70 Jack in the Box restaurants close, re-open
Longtime Jack in the Box Inc. franchisee Abe Alizadeh suddenly and temporarily closed 70 Jack in the Box restaurants in Northern California, before re-opening Friday, the San Diego-based restaurant franchising company reported in a news release.
The 70 Northern California Jack in the Box locations reopened Friday afternoon after Alizadeh filed for Chapter 11 bankruptcy protection for the four corporate entities that operate them, spokesman Scott Rose said.
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The 70 Northern California Jack in the Box locations reopened Friday afternoon after Alizadeh filed for Chapter 11 bankruptcy protection for the four corporate entities that operate them, spokesman Scott Rose said.
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Accor announces a major real estate transaction
In line with its ongoing asset-right strategy, Accor today announced a major real estate transaction in the
Budget segment in France, with the sale of 158 hotelF1 properties, representing a total of 12,300 rooms.
Accor pioneered the low-cost hotel concept in France, opening the first Formule 1 hotel in 1984 and introducing particularly innovative construction and management techniques. Formule 1, renamed hotelF1 in 2007, is the entry-level hotel brand of Accor Group in France with an average room rate of around €33.
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Budget segment in France, with the sale of 158 hotelF1 properties, representing a total of 12,300 rooms.
Accor pioneered the low-cost hotel concept in France, opening the first Formule 1 hotel in 1984 and introducing particularly innovative construction and management techniques. Formule 1, renamed hotelF1 in 2007, is the entry-level hotel brand of Accor Group in France with an average room rate of around €33.
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T.G.I Fridays outlets close
Jack is back, but T.G.I. Fridays has closed in the Sacramento region, the latest restaurant outlets affected by the financial woes of businessman and developer Abe Alizadeh.
Carlson Restaurants Worldwide Inc. has forced the closure of 10 T.G.I. Fridays in Northern California, Oregon and Washington owned by Alizadeh. The Carrollton, Texas-based company ordered Alizadeh to shut down the restaurants Friday
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Carlson Restaurants Worldwide Inc. has forced the closure of 10 T.G.I. Fridays in Northern California, Oregon and Washington owned by Alizadeh. The Carrollton, Texas-based company ordered Alizadeh to shut down the restaurants Friday
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Granite City Food & Brewery Ltd. Announces Debt for Equity Transaction
MINNEAPOLIS--(BUSINESS WIRE)--Granite City Food & Brewery Ltd. (NASDAQ: GCFB) today announced a transaction that will allow the company to convert approximately $15.0 million of debt owed to DHW Leasing LLC (DHW) into 28 million shares of the company’s common stock at a conversion price of $0.54 per share.
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Monday, September 21, 2009
Housekeeping head charged with second-degree murder in Essex House slaying
A housekeeping manager at the tony Jumeirah Essex House hotel tried to rape a gorgeous investment executive as she slept - then viciously stabbed and strangled her when she fought back, police sources told the Daily News on Sunday
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Sunday, September 20, 2009
Saturday, September 19, 2009
US Trustee Seeks Extended Stay Probe
The U.S. government's bankruptcy monitor is expected to ask a court Tuesday to authorize an investigation into the bankruptcy of hotel operator Extended Stay Inc.
The official, U.S. Trustee Diana Adams, filed a motion in July asking the court to appoint an examiner to investigate pre-bankruptcy deals between the company, its chief executive and senior lenders. Adams said "serious" fraud allegations involving the company's top management prompted the request.
The government is raising questions about a proposed restructuring plan that provides "critical protections and inducements" to Chief Executive David Lichtenstein, whose Lightstone Group bought the 680-hotel chain in 2007 for $8 billion
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The official, U.S. Trustee Diana Adams, filed a motion in July asking the court to appoint an examiner to investigate pre-bankruptcy deals between the company, its chief executive and senior lenders. Adams said "serious" fraud allegations involving the company's top management prompted the request.
The government is raising questions about a proposed restructuring plan that provides "critical protections and inducements" to Chief Executive David Lichtenstein, whose Lightstone Group bought the 680-hotel chain in 2007 for $8 billion
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Lender takes Fairmont Orchid
A lender quietly acquired The Fairmont Orchid Hawaii in lieu of foreclosure earlier this year, giving the luxury hotel at Mauna Lani Resort on the Big Island its fourth different owner in seven years.
An affiliate of New York-based lender Barclays Capital in June repossessed the 540-room hotel from Westbrook Partners LLC, a Boston-based real estate investment firm that bought the 32-acre oceanfront property for $250 million in 2005, property records show.
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An affiliate of New York-based lender Barclays Capital in June repossessed the 540-room hotel from Westbrook Partners LLC, a Boston-based real estate investment firm that bought the 32-acre oceanfront property for $250 million in 2005, property records show.
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Hundreds attend rally for fired Hyatt housekeepers
Several hundred hotel workers and their supporters turned out yesterday for a raucous rally in front of the Hyatt Regency Boston for the 100 housekeepers who were fired by the hotel chain. Politicians called for businesses to boycott the Hyatt, and workers banged on drums, rattled detergent bottles filled with rocks, and chanted “Hyatt, shame on you’’ as they marched in front of the hotel with picket signs.
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Ireland - 900 jobs under threat after court ruling
ALMOST 900 jobs were under threat in Dublin last night after the High Court appointed a provisional liquidator and interim examiner to a leading hotel and bar group and also appointed an examiner to a laundry company.
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Bob Evans Farms Announces Organizational Changes
Chief Financial Officer, Treasurer and Assistant Secretary Don Radkoski has decided to retire after nearly 30 years with the organization. Radkoski has served as chief financial officer since 1993 and has also held the positions of restaurant accounting supervisor, general accounting supervisor and vice president of finance, among others, since joining Bob Evans in February 1980. Radkoski plans to stay with the Company through the end of the current fiscal year to ensure an orderly transition of responsibilities.
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$65,000 Suite Touts 007 Security
GENEVA (TheStreet) -- Your average world-class hotel suite might be adorned in mother-of-pearl, accented by a grand piano and punctuated with a complete library.
But can it take a bullet for you?
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But can it take a bullet for you?
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Penn National in Fontainebleau Vegas talks--source
NEW YORK, Sept 18 (Reuters) - Penn National Gaming Inc ( PENN - news - people ) is one of at least two companies in talks to buy the bankrupt, unfinished Fontainebleau Las Vegas casino and resort, a source familiar with the matter said on Friday. The negotiations, like any bankruptcy sale, are complicated by the large number of constituencies with a stake in the process and by the fact the resort's retail mall component is not part of the bankruptcy filing, said the source, who was not authorized to speak on the record. Penn spokesman Joe Jaffoni said the company does not comment on rumors or speculation.
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