Posted by Mark J. Miller on December 5, 2013 12:57 PM
Much like Twitter did a few months ago, the executives of Hilton Worldwide Holdings will be hitting the road this month to butter up investors for what is set to be the largest hotel IPO ever.
Sold to Blackstone Group in 2007 for $26 billion, the global hotel chain—the largest in the world with 4,000 properties—hopes to raise over $2.4 billion in its initial offering to pay off $1.25 billion in debt. 112.8 million shares will be made available for between $18 to $21 each, which would result in a market value of over $19.2 billion, according to Bloomberg.
It would be one of the most high-profile IPOs of the year along with Twitter, which raised $1.82 billion last month. It wouldn’t make it the year’s largest IPO, though, as oil-pipeline company Plains GP Holdings brought in $2.8 billion in October.Continue reading...
Posted by Dale Buss on December 10, 2012 09:05 AM
Apple joins Google in $500M+ bid for Kodak patents; smacked by USPTO as 'Steve Jobs Patent' for iPhones and iPads deemed invalid and Siri secrets revealed.
Diageo seen as unlikely to bid for Beam following UK report that drinks giant talked to Suntory about joint bid.
Barnes & Noble cuts Nook price from $99 to $79.
Michael Bloomberg weighs making bid for The Financial Times, which includes the paper and a half-interest in The Economist.
Caribou Coffee celebrates 20th anniversary.
Carlos Slim brings Telcel brand to U.S. for Mexico calls.
CVS Caremark reportedly aims to acquire drug-store chain in Brazil.
Chili's begins soft rollout of new menu items.
Darden Restaurants looks to retool value proposition for its Olive Garden and Red Lobster restaurants.Continue reading...
Posted by Barry Silverstein on August 31, 2012 01:22 PM
The Sonesta travel brand includes an eclectic collection of international luxury hotels, resorts and cruise ships. With a tiny hotel portfolio relative to major hotel brands (it currently has only ten U.S. hotels, for example), Sonesta is making a push to gain brand awareness by entering a new segment -- the extended stay market.
By acquiring fifteen Staybridge Suites and two Residence Inns, Sonesta is able to jump start its new "ES Suites" brand in the primary markets of Atlanta, Houston and Orlando, in addition to locations in Massachusetts, New Jersey, North Carolina and Ohio. Mike Wohl, operations vice president at Sonesta ES Suites, told HotelNewsNow.com, "We really like the extended stay business. It has matured to the point where it is a solid fundamental market segment on a national scale. It's a proven segment, and we really like the business model."Continue reading...
Posted by Dale Buss on August 8, 2012 09:02 AM
American Airlines faces record safety penalty, tests hotel baggage delivery service.
Amazon sees pay-off from locker service, looks to acquire more patents.
Apple shelves "Genius" TV campaign, puts former designer on the stand against Samsung and plans to beef up security.
AT&T sees 20,000 employees go on strike.
Bank of America brings discounts to bank statements.
Chiquita seeks new CEO as Undercover Boss star exits.
Chrysler’s Dodge pulls out of NASCAR.Continue reading...
Posted by Dale Buss on March 17, 2012 11:49 AM
Apple plans to spend $45 billion of cash hoard on $10 billion stock buyback and share dividend yet may have to deal with rising brand dislike as it discusses today its plans for $100-billion cash horde.
Apple critic Mike Daisey changed his one-man show after admitting fabrications, while Foxconn declines to sue.
Boeing faces concerns about aging of 737.
Chevron executives can't leave Brazil.
Cumulus Media debuts radio program featuring Mike Huckabee to challenge Rush Limbaugh Program.
E! Network signs Clint Eastwood and family to reality TV series.
Facebook spends less on R&D than rivals.Continue reading...
Posted by Dale Buss on January 23, 2012 09:01 AM
ABC handles product placement delicately for Modern Family.
American Ethanol sponsors NASCAR drivers.
Apache makes $3-billion acquisition in U.S. oil business.
Apple raises "made-in-America" questions about iPhone manufacturing.
BlackBerry future questioned as RIM's new CEO takes the reins.
Carnival CEO lies low during crisis as his company mishandles communications with survivors of shipwreck.
Cisco tests LinkedIn marketing campaign.
Facebook wants to become a bigger news player.
Fisker battles problems across the EV company.Continue reading...
Posted by Dale Buss on September 20, 2011 08:59 AM
Amazon launches YoYo portal for kids toys.
American Express buys virtual currency monetization platform for $30 million.
Angry Birds is poised to expand as Rovio works with Starbucks and other brands to expand footprint.
Apple's stock closes at all-time high.
Braun announces theme for 2012 BraunPrize.
CNN opens first CNN Cafe, in Seoul.Continue reading...
in the spotlight
Posted by Mark J. Miller on September 15, 2011 05:02 PM
Hyatt workers today returned to work, following a week-long strike that saw local religious leaders join the picket line in a show of solidarity.
Thousands of Hyatt workers in Chicago (with two hotels), Los Angeles, San Francisco and Honolulu walked off the job in a strike that ended at midnight last night, part of an "ongoing demonstration against the hotel chain, which hasn’t renegotiated contracts since Aug. 31, 2009 and has racked up 15 OSHA citations," as the Huffington Post reports.
Contract renewal talks on a new deal for housekeepers, bell staff, and restaurant and banquet workers have apparently did not go well after union workers hit the picket lines last week, “after a series of one-day work stoppages,” according to the Chicago Sun-Times.Continue reading...