Hotels and motels
Trump's Castle Funding, Inc. and Trump's Castle Associates, L.P., both subsidiaries of Trump Hotels & Casino Resorts, Inc., have extended the Expiration Date for their cash tender offer to purchase all of Castle Funding's 11 3/4% Mortgage Notes due 2003. The tender
Hotels and motels
Extended Stay America, Inc., the fastest growing company-owned and operated hotel chain in the U.S., has opened its second Extended StayAmerica Efficiency Studios brand property in the Washington, D.C. area. Located at 9401 Largo Drive West in Landover, Md., the three-story, 104-room hotel is accessible from the Beltway
Real estate investment trusts
Starwood Hotels & Resorts, the nation's largest hotel real estate investment trust, has acquired the 242-room Danbury Hilton Hotel in Danbury, Connecticut, from Danbury Hotel Associates, I.P. for a purchase price of $20 million, or approximately $80,000 per key. The hotel, which has been managed by
Real estate investment trusts
Discussions between Patriot American Hospitality, Inc. (NYSE: PAH) and Marriott International, Inc. (NYSE: MAR) are ongoing to settle a litigation over a proposed merger between Patriot American and Interstate Hotels Company (NYSE: IHC). The United States District Court for the District of Maryland has postponed the start of trial, pending
Hotels and motels
Europa Cruises Corporation, a leading gaming company, has announced that it has received a permit from the U.S. Army Corps of Engineers to construct a casino resort in the Bay of St. Louis, located at its Diamondhead, Mississippi, site. The company plans to build a luxury hotel and spa,
Hotels and motels
Starwood Hotels & Resorts, the largest hotel real estate investment trust in the United States, announced a significant increase in its quarterly dividend and the introduction of a stock repurchase program. The company declared a dividend of $0.52 per share for the first quarter of 1998, representing a 33%
Hotels and motels
Circus Circus Enterprises, a leading hospitality and gaming company, has unveiled the concept and name of its newest Las Vegas hotel and casino, Mandalay Bay. This $950 million luxury destination resort is a 3,700-room complex situated on 60 acres just south of the company's pyramid-shaped Luxor resort.
Hotels and motels
American General Hospitality Corporation, a hotel real estate investment trust, has completed the acquisition of 18 hotels, including a 13-hotel portfolio from trusts managed by Financial Security Assurance, a 4-hotel portfolio in the robust BWI market, and the Holiday Inn O'Hare International Hotel. The three transactions were valued
Hotels and motels
Ramada Franchise Systems Inc., a subsidiary of Cendant Corp., has announced the launch of the Michael Andretti & Mike Piazza Sports Cafe, a sports-themed restaurant concept exclusive to the Ramada chain. The first location opened at the Ramada Inn Resort Maingate in Kissimmee, Florida, marking a new era in celebrity
Hotels and motels
Standard & Poor's, a leading credit rating agency, has affirmed its ratings of Meditrust Corp. after the company announced its intention to acquire La Quinta Inns Inc. Additionally, Standard & Poor's assigned ratings to Meditrust Cos. and Meditrust Operating Co. The acquisition is expected to provide
Hotels and motels
On December 30, 1997, at 5:15 p.m., the Imperial Palace Biloxi, located on the Mississippi Gulf Coast, opened its 70,000 square foot casino. The three-story floating casino features 24-hour gaming action, with more than 1,600 slot machines and 64 table games, including blackjack, craps, and poker.
Hotels and motels
Equity Inns, a self-advised real estate investment trust, has announced the exercise of an over-allotment option by Salomon Smith Barney and J.C. Bradford & Co. to purchase an additional 350,000 shares of common stock, generating $5.3 million in additional gross proceeds. This brings the total gross proceeds
