The New York
Times and the Wall Street Journal have reported that
Harrah's Entertainment, the largest casino operator in the world
with 40 gaming properties, including the brands Caesars and
Bally's, is reviewing a buyout offer by equity firms Apollo
Management and Texas Pacific Group for $15.05 billion in cash.
Harrah's currently has a debt of $10.5 billion, which puts the
total buyout offer at close to $26 billion.
Renaissance Hotels & Resorts will invest $3
billion over the next three years to enhance the brand throughout
North America. Key brand standards to be incorporated at all
properties include upgraded guest rooms with high-end amenities, a
signature lobby, new restaurant concepts, hotelwide wireless
Internet access, and Enlightened Event, which features enhanced
services for meeting planners and groups.
The groundbreaking ceremony for the expansion to New
York City's Jacob K. Javits Convention Center will take place Oct.
16. Plans call for 340,000 additional square feet of exhibit space,
180,000 square feet of meeting space and 400,000 square feet of
prefunction space, bringing the totals to 1.1 million square feet
of exhibit space, 210,000 square feet of meeting space and 940,000
square feet of prefunction space. The current goal is to have the
expanded center open by 2010.
Talks are under way to sell the 273-room Ritz-Carlton,
Boston, the legendary property at the western edge of Boston's
Public Garden, to the Indian Hotels Co., part of the Tata Group.
The deal would add the hotel to the Taj Hotels Resorts and Palaces
portfolio. A spokesperson for the Ritz-Carlton Boston confirmed the
deal is being discussed. According to multiple reports from India,
Indian Hotels' vice chairman, R.K. Krishna Kumar indicated the
acquisition would be completed through the company's New York
City-based subsidiary for US$170 million.
UNITE HERE Local 5 and the Hilton Hawaiian Village
reached a tentative agreement on a new contract for the property's
1,554 unionized workers on Monday. The specific details of the
contract, which still is subject to a union vote, have not been
InterContinental Hotels Group will open a $50 million,
122-room Hotel Indigo in New York City's Chelsea neighborhood. The
property will have a boardroom, a rooftop garden and a street-level
cafe. Groundbreaking is scheduled for this month, with the opening
scheduled for the third quarter of 2008.
Nan Marchand joined the Pasadena (Calif.) Convention
& Visitors Bureau as executive director last week, succeeding
Barbara Garcia, who left the post in April. Marchand, who has been
running her own tourism marketing company since 2001, also has
served as vice president of sales for Universal Studios
France will ban smoking in public places beginning in
February. The exemptions are bars, restaurants and nightclubs,
which will have a reprieve until January 2008. And yet another
loophole: Establishments that want to permit smoking will have to
provide smoke-proof "fumoirs," or smoking rooms, to which serving
staff will not be permitted access.