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| Starwood Grants Zell Right Of Refusal |
Starwood Hotels & Resorts Worldwide has agreed to give right of first refusal to minority stakeholder Sam Zell's Equity Group Investments in the event that Starwood should pursue a company sale or merger. The move is a possible first step toward taking Starwood private.
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| Asia Pacific Projects Down 8% From Peak |
At the end of the third quarter, Asia Pacific's construction pipeline stood at 1,990 projects and 466,456 rooms, according to a Lodging Econometrics report.
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| Blackstone Can't Check Out Of Hilton |
After the Hilton Hotels Corp. acquisition, many observers expected The Blackstone Group to do what it usually did: start spinning off assets to pay down the debt. Whether the company planned from the outset to keep all the hotels (it says it did), it has little choice now.
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| Falling Pound Has UK Hoteliers Targeting Americans |
The falling value of the pound against the dollar and the euro has inspired tourism bosses in the UK to target the American, Canadian and German markets early this year.
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| Egypt Exempts Hotels From Tourism Tax |
Egypt will exempt hotels from paying contributions to the country's tourism promotion authority and will cut fees paid by charter flights to help its tourism industry cope with the global financial crisis.
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| Bharat Grand Hotels To Be Called Lalit |
Bharat Hotels has changed its brand name from 'Grand' to 'The Lalit,' reflecting the name of its late founder, Lalit Suri.
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| Proximity Owner: Going Green Is Easy |
Dennis Quaintance has some valuable advice for American industry as it faces growing pressure to cut energy use and play nicer with the environment. His message is simple: Relax, it's easy. And it will be good for your bottom line.
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| Deals Blog: Why Is Franchise Info So Secretive? |
Michael Shindler writes: "I have been doing some research for a client to determine some basic physical facts regarding the brands’ requirements for its midscale and economy brands. One might think that this information would be available on each company’s Web site, absent a need to log in or to have executed a uniform franchise offering circular."
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