With six years having elapsed since the U.S. lifted its trade embargo against Communist Vietnam, Western hotel chains are sweeping into the region. Hyatt, InterContinental, Starwood and Accor have all entered the country, and the number of hotel rooms in Vietnam between 2000 and 2005 increased 72% to 95,700, according to the Vietnamese government.
Hard Rock International and hotel chain Sol Melia have mutually agreed to end a three-year partnership to develop Hard Rock brand hotels. Hard Rock says it is moving ahead with deals in Australia, the Middle East and Biloxi, Miss., and Sol Melia says it will continue developing lifestyle hotels and concepts.
Las Vegas Sands Corp. reported a 27% rise in adjusted net income to $121.3 million for the second quarter of 2006. The company says it had another record quarter at The Sands Macau in Asia, and its year-over-year gross revenue growth continues to outpace the broader Macau gaming market.
The McCamly Plaza Hotel in Battle Creek, Mich., has changed hands, with former owner Kellogg Co. selling the property to Grand Heritage Hotel Group LLC, of Portland, Ore. Grand Heritage plans a $5 million makeover for the properties, including the addition of a Starbucks and updates to all 239 guest rooms.