Wynn board faces numerous suits: Wynn Resorts’ board could face a slew of legal action from angry shareholders, angered by its apparent failure to keep the alleged behavior of its disgraced former chairman and CEO in check. Lawsuits were beginning to mount this week, as a class action suit in New York joined two shareholder derivative suits filed in Nevada earlier this month. As a class action suit, any aggrieved Wynn Resorts shareholder is eligible to join.
Hunka, hunka protest love: Hawaii state sheriffs on Thursday removed protesters from the ruins of a hotel where they had been squatting since last year in an attempt to block redevelopment of land where Hawaiian chiefs once lived and where Elvis Presley’s character got married in the movie “Blue Hawaii.” The protest began when two men arrived claiming they owned the property because they descend from King Kaumualii, the last ruler of Kauai. They’ve since been joined by dozens of others.
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Pipeline data, Europe: In line with its surging economic recovery, recent pipeline data for Europe is booming with 1,316 projects/205,650 rooms, up 22% by projects year-over-year, according to Lodging Econometrics. There are 636 projects/103,736 rooms under construction, up 19% by projects YOY. Projects scheduled to start construction in the next 12 months are at 412 projects/63,815 rooms, up 45%, with projects in early planning at 268 projects/38,099 rooms up by 2%.
The top hotel companies in europe’s construction pipeline are: AccorHotels with 215 projects/27,876 rooms, Marriott International with 187 projects/31,977 rooms, Hilton Worldwide with 177 projects/27,709 rooms and InterContinental Hotels Group with 141 projects/24,128 rooms. The largest brand in the pipeline for each of the these companies are: Accor’s Ibis Styles with 50 projects/6,437 rooms, Marriott’s Moxy with 60 projects/10,752 rooms, Hilton’s Hampton Inn & Suites with 69 projects/10,456 rooms and IHG’s Holiday Inn Express with 63 projects/10,028 rooms.