LaSalle Hotel Properties, a hotel real estate investment firm, has sold its 299-room Omaha Marriott for $28.5 million. The company says proceeds from the sale will reduce its existing debt to about $278 million.
Equity Inns plans to up its hotel portfolio to 110 properties by buying two Marriott Courtyards, a Residence Inn and a Springhill Suites from the McKibbon Hotel Group for $28.5 million. Equity bought nine hotels from McKibbon earlier this year.
The Oriental Land, owner of Tokyo Disneyland and Tokyo DisneySea parks, yesterday revealed plans for a $1.28 billion expansion. The plans include improvements and added attractions for the parks, which will be augmented over the next four years. The company also said it may spend an additional $800 million during the next three years for hotels and theaters in the resort complex, located in the Chiba prefecture south of Tokyo.
The marketing of high-end condos in the W Dallas Victory Hotel and the Residences at the Ritz-Carlton goes well beyond slick brochures, with elaborate mock-up showcases that replicate the look and feel of condos -- just without the view.
InterContinental Hotels Group is set to launch a new online booking campaign guaranteeing customers of its site, www.icHotelsGroup.co.uk, that if they find a lower price for the same room through another Web site, IHG will beat the price by 10%. The site, which will cater to both business and vacation travelers, allows customers to book at Crowne Plaza, Holiday Inn and Express by Holiday Inn properties.
Hotels that strive for long-term success should plan for the hotel's essential technological needs, says one expert. Hotels with inadequate cabling systems are a common scenario. These owners should seek cabling guidance and design services to help with system set-ups that will have a long-term life span.