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.
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.
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.