Archive for May, 2010

A slowdown in hotel construction activity could be just what the industry needed to get average daily rates back on track in 2011, according to PricewaterhouseCoopers’ Lodging Industry Forecast. First quarter performance indicates that demand is making a comeback, thanks to consumer confidence and the resulting increase in discretionary spending. Meanwhile, new construction starts fell from... »

OHIO – NO RACETRACK SLOTS Ohio racetracks will have to rely on the voters to allow them to get VLTs. The state legislature, close to its deadline has left VLTs out of the bill to regulate gaming. Both House and Senate versions of the bill omit VLTs. That leaves the last best chance for approval this year the November... »

Based on data from TripAdvisor.com, Gulf Coast destinations have seen a drop in inquiries since the oil spill last month, which could mean vacationers are passing up the Gulf, USA Today’s Hotel Check-In reported. Compared to last year, searches are down 40 percent for Pensacola, 33 percent for Fort Walton Beach, FL, 25 percent for Biloxi, 19 percent... »

The state House and Senate passed a bill allowing VLTs at truck stops, and it is expected that Gov. Pat Quinn will sign it into law. The bill also penny slots in addition to previously authorized games of 5 to 25 cents. At the same time, Chicago is considering whether to opt-in to last year’s legislation that allows liquor-licensed... »

Licensees will be allowed to install up to 56,697 throughout Italy now the Italian Gaming Authority has completed the video lottery testing phase. The move opens the door for gaming operators to set up VLT facilities throughout the country. The maximum win allowed on the Italian VLTs will be €500,000 There are currently only four casinos in... »

Marriot International and Carlson are working to expand their presence in the Asia Pacific market with MAR planning to double its China portfolio and Carlson closing on 75 contracts for the region. MAR plans to double the number of Marriot brand hotels in China to 90 by 2015, and intends to introduce a lower-priced... »

The rush into China by high-end hotels continues to accelerate as companies like Four Seasons and Marriott’s Ritz-Carlton develop their pipelines. Four Seasons, for example, issued a press release on Tuesday saying the company is “progressing swiftly on a strategic plan to establish itself as the premiere luxury hospitality brand in China.” FS has three hotels now, two more... »

Carl Icahn has appealed the bankruptcy court decision that gives Donald Trump and bondholders control of Trump Entertainment and its three Atlantic City casinos, saying his competing plan is superior. The Trump-backed plan offered $225 million for the company and allowed Trump a percentage of ownership for... »

MGM Mirage, which has said it would not fight with CityCenter general contract Perini Building in the press, has struck back in court. In strongly worded documents, MGM accused Perini of a “massive publicity campaign to smear CityCenter and its management for failing to pay Perini’s demand, all before Perini had submitted its final application for payment to... »

The lodging industry appears headed towards a perfect combination – increasing business volumes as the recession ends and less new capacity coming online. The Hotel Industry Pulse Index by e-forecasting.com and STR rose 2.5 percent in April following a 1.4 percent rise in March. The six-month HIP growth rate is now up three straight months and reached 9.1 percent... »