MGM Mirage is in advanced talks with Diaoyutai State Guesthouse in Beijing regarding forming a joint venture to develop non-gaming luxury hotels and resorts worldwide, starting with locations in China.
San Jose, Calif., could see hotel rates rise slightly next year to help fund the expansion and upgrade of the city's McEnery Convention Center. The city council is exploring a plan to create a tax district comprising the city's hotels, which would be taxed for a portion of their room revenues, for up to 30 years.
Failing to develop design specifications, in an effort to save time or money on a hotel project, ultimately can backfire, according to a furniture, fixtures and equipment expert. She emphasizes the need for formal, written specifications.
New York investor Carl Icahn recently has acquired shares in two large hotel companies: An SEC filing made public yesterday revealed Icahn has purchased a 1% stake in Hilton Hotels and a similar portion of Wyndham Worldwide.
Isle of Capri Casinos Inc. is in a deal to sell its 122-room Vicksburg Hotel and Casino, in Mississippi, and its 786-key Caribbean-themed Island of Capri Casino and Resort Hotel in Bossier City, La., to Legends Gaming LLC for $240 million.