Luminar shares plunge on profit warning

Luminar, the UK’s largest nightclub owner, issued a stark profit warning today, after rising job losses among young people put a dampener on party spirits.
The company, which is responsible for the Liquid and Oceana chains, warned that there was a "significant risk" it would not meet full-year profit expectations in February 2010, after half-year sales fell 5.9 per cent in the 26 weeks to August 27 compared with the same period last year.

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Langham Hotels to make debut in the Caribbean

Luxury hotelier Langham Hotels International has signed a deal for a new resort in the Bahamas. Langham Place Resort & Spa, Port St George, Bahamas, is slated to open by 2013.

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Tavern on the Green Employees Plan Rally Against New Labor Plan

The scene has been set for the next phase of the unfolding labor drama surrounding New York City's storied Tavern on the Green. At 2:45 p.m. tomorrow, a group of Tavern employees and their supporters - a crowd that could number in the hundreds - will gather outside the restaurant to protest the revised labor contract proposed by restaurateur Dean Poll, who will take over the Central Park landmark's operating license next year. According to recent coverage in The New York Times, Poll's proposal would nullify most of the provisions of the current contract.

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STR Global posts August 2009 results for Europe

The European hotel industry posted decreases in year-over-year results when reported in U.S. dollars, euros and British pounds for August 2009, according to data compiled by STR Global.

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STR Global posts August 2009 results for Asia/Pacific

In year-over-year measurements, the Asia/Pacific region’s occupancy dropped 3.3 percent to 63.3 percent; ADR declined 24.7 percent to US$117.22; and RevPAR fell 27.1 percent to US$74.18

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STR Global posts Middle East/Africa August 2009 results

The region’s occupancy dropped 18.2 percent to 59.2 percent; ADR decreased 3.7 percent to US$133.31; and RevPAR decreased 21.2 percent to US$78.89

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Le Meridien, Expands Its International Presence with Its First Hotel in Central America

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced the opening of Le Meridien Panama, the European rooted hotel brand's first property in Central America. Set in the heart of Panama's cosmopolitan capital city, Le Meridien Panama, owned by developers Bern Hotels & Resorts Panama, is a modern, contemporary building located on the edge of the Bay of Panama

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Vail Resorts Reports Fiscal 2009 Results and 2010 Outlook

Fiscal 2009 Highlights
-- Resort Reported EBITDA, which includes the Company's Mountain and
Lodging segments, of $171.1 million in Fiscal 2009 decreased $59.6
million, or 25.8%, from the prior year.
-- Real Estate Reported EBITDA of $44.1 million in Fiscal 2009 decreased
$1.9 million, or 4.0%, from the prior year.
-- Net income of $49.0 million in Fiscal 2009 decreased $54.0 million, or
52.4%, from the prior year.
-- Net Debt leverage ratio of 1.96 times trailing twelve months Total
Reported EBITDA, $69.3 million of cash and cash equivalents on hand as
of July 31, 2009, and no revolver borrowings under the Company's
$400 million senior credit facility.

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Punch Taverns puts 300 pubs up for sale

LONDON, Sep 25 (Reuters) - Britain's biggest pubs group, Punch Taverns on Friday said it had put more than 300 of its worst performing pubs up for sale.
Punch, which set up a turnaround unit for underperforming pubs earlier this year, has appointed property agent Christie to sell the sites.

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Investors Pledge Funds to Buy Troubled European Hotels

A group of investors is pooling up to $739.7 million to buy troubled European hotels in the belief that the hospitality market is poised for a rebound. Avingstone Financial has earmarked its intention to buy a series of hotels across European over the next two years.

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Dubai five-star hotel to be sold for homes

The hotel’s owner, Damas, is selling the property for residential use because of the 'challenging economic environment brought on by the global economic recession', the Angsana’s management company said on Wednesday.

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Langham Hotels invests £612m in global expansion

Hotel group Langham is investing £612m into expanding the brand globally with plans to operate 34 hotels across the world.

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InterContinental sees signs of life in business travel

Chief Executive Andrew Cosslett said its London flagship Park Lane InterContinental hotel was full this month while its August performance in China was ahead of last year despite the Olympic Games boost in the Chinese capital in August 2008.

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Starwood Opens 40 Hotels and Signs 25 New Deals in North America

PHOENIX – September 23, 2009 – From the 15th Annual Lodging Conference, Starwood Hotels and Resorts Worldwide, Inc. (NYSE: HOT) announces it has executed 25 new deals and opened more than 40 hotels in its North America Division in 2009, with an additional 20 anticipated to open by year’s end. These developments are illustrative of Starwood’s overall global growth that includes nearly 60 hotel openings and 50 deal signings over the past ten months.

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Hilton Garden Inn® Set to Open 60 Hotels in 2009

MEMPHIS, Tenn. — Officials of Hilton Garden Inn, the global brand of upscale, yet affordable hotels, today announced it remains on pace to reach near-record development numbers in 2009 with 60 new hotels expected to open and 200 hotel projects in the pipeline. This pace is slightly off 2008’s record-breaking openings, but is still one of the brand’s fullest pipelines of hotel projects approved, in design or under construction.

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