| November 5, 2009 | News for hotel and lodging professionals |
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 | The Wall Street Journal Online: Upgrade your news.
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| Business Update |  |  |
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- Sale of troubled Pittsburgh Hilton in the works
The Pittsburgh Hilton, which has faced financial woes in the past year, may come under new ownership soon as the current owner, Shubh Hotels LLC, works to sell the property to a partnership that includes Jorge M. Perez, CEO of The Related Group, and Stephen M. Ross, majority owner of the Miami Dolphins football team. The operations of the hotel would be taken over by Interstate Hotels & Resorts under the deal, which could be completed in as soon as 10 days. Pittsburgh Post-Gazette
(11/5)
     
- Hyatt IPO pricing moved up a day
Hyatt Hotels Corp.'s initial public offering, said to be set to price on Friday, instead was moved to today. The chain was seeking $23 to $26 a share, according to a regulatory filing, for 38 million shares. Bloomberg
(11/4)
, Chicago Tribune
(11/5)
- Bahamas casino transitions to new ownership
Treasure Bay Gaming & Resorts will take over an Isle of Capri casino property in the Bahamas. The transition of Our Lucaya Resort's casino to new ownership will begin on Nov. 6 and should be completed by Nov. 23. Treasure Bay plans to upgrade the equipment at the casino on Grand Bahama. Travel Agent
(11/3)
- Millennium & Copthorne: Worst of downturn may have passed
U.K.-based hotels group Millennium & Copthorne Hotels PLC says the market appears to be stabilizing and the chain has seen some positive movement in bookings. "While it is too early to predict with accuracy how markets will behave in 2010, we are encouraged by these improving trends which suggest that the worst may be behind us," said the company's chairman, Kwek Leng Beng. The Wall Street Journal
(11/5)
- Cappadocia features cave hotels, underground cities
Cappadocia, a region in central Turkey, has evolved from being a stop on the hippie trail to one of the hottest travel destinations in the world. From the volcanic landscape to the region's cultural history, the area offers interesting and unique attractions to a variety of travelers. The moonscape of fairy chimneys is a must-see, and wine tastings in the Turasan Vineyards are highly recommended. The cave hotels sound primitive, but they feature Wi-Fi and marble bathrooms. Travel Agent
(11/4)
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| Best Practices | | |
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- 5 tips for determining cybersecurity needs
Small-business owners need to determine which data need to be protected and how important cybersecurity is before undertaking development of a data-security strategy, says David Meizlik, director of Web and data security at Websense in San Diego. Meizlik suggests five questions firms need to answer to identify the importance of security concerns. BusinessWeek/Today's Tip
(11/2)
| Development | | |
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- Disney's project in Shanghai features hotels, stores
Chinese officials confirmed that they have approved a proposal from Walt Disney to build a theme park in Shanghai. The $3.6 billion development, which will be built in phases, includes hotels, retail shops and other businesses. The park could open, at the earliest, in 2012 as many hurdles remain. The Wall Street Journal
(11/5)
- Downtown Los Angeles Holiday Inn to get $10M face-lift
The Los Angeles Holiday Inn, in downtown Los Angeles, is getting a new identity and a $10 million face-lift to capitalize on its location near the Staples Center and L.A. Live complex. The 195-room hotel is joining the Luxe Hotels chain and will become the Luxe City Center Hotel, featuring several luxury suites. Los Angeles Times
(11/4)
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