AirTran Holdings Inc., AirTran Airways’ parent company, recently announced that it has entered into a definitive merger contract. The Fortune 100 company will be acquired by Southwest Airlines in a transaction currently worth more than $1.37 billion. Together with existing AirTran Holdings’ indebtedness and capitalized aircraft operating leases, the transaction’s total value is approximately $3.42 [...]
Queensland is all set for the anticipated tourism boost as Premier Anna Bligh and the Minister for Tourism, Peter Lawlor unveiled Tourism Queensland’s first global tourism brand. According to the Premier, there will be $4.16 million worth of investments that will focus on the new brand, “Queensland, Where Australia Shines”. Premier Bligh said that the two-year $4.16 million [...]
St. Regis Aspen is now out of the buyers’ radar. Starwood Hotels and Resorts Worldwide have sold the 179-room St. Regis Aspen for $70 million to 315 East Dean Associates Inc., a Delaware Corporation represented by Bangkok-based OptAsia Capital Co. However, Starwood will maintain a 50-year management agreement and will continue to operate the resort [...]
The Mariner Group, a privately held Delaware limited liability software company, and The Harp Group, a Chicago based real estate and development company, along with its sister corporation Portfolio Hotels & Resorts, recently came together to form Meritage Hospitality Group (MHG). Taking advantage of the unusually attractive buying opportunities in today’s hospitality industry, the companies created the new firm to acquire [...]
Bluegreen Corporation, one of the leaders in the vacation ownership resort and residential real estate business, announced Paul Humphrey as the newly appointed Vice President for their Finance and Capital Markets Department. “I am excited to join Bluegreen during this period of change and opportunity,” Humphrey said. “I feel fortunate to be joining an organization [...]
One of the leading hospitality empires in the industry, Hilton Worldwide celebrates its fourth year as Japan’s “Number 1 Hotel Brand.” BDRC Continental, the UK’s largest independent market research consultancy company, conducted its annual Asia Pacific Hotel Business Guest Survey to determine which hotels and lodging excel in various categories such as awareness, social media [...]
The Dancing Bear residence club can finally proceed building the second phase of its fractional residence project, after the company was granted an extension to its allowed development period until 2014. A nine-unit luxury fractional facility, the development was originally approved in 2005 and was given a construction right that expires on June 30, 2011. [...]
A recent survey by WAYN.com, the world’s largest travel and lifestyle social networking site, found out that Mediterranean holidays are still among the most popular vacation options with holidaymakers. The WAYN European Travel Survey asked respondents for their preferred location in various categories such as top ten romantic and top ten cultural destinations. Involving 6,500 [...]
As part of Accor’s continued expansion in the hospitality industry, the biggest international hotel operator in Thailand announced the opening of Novotel Bangkok, Fenix Silom. Nestled in one of the most vibrant areas in Bangkok, Silom Road, the hotel is just a few steps away from the district’s shopping and nightlife spot. Also, the hotel’s [...]
Bringing its world-class services to Latin America, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) recently announced the opening of two new Westin brand properties in Panama in the next two years. Located just 20 minutes from downtown, The Westin Playa Bonita Panama will be opening its doors to guests next year, while The Westin [...]