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>> HOTEL Latest News

MAY 10, 2016 - Los Angeles Times

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Nazarian's SBE agrees to buy Morgans Hotel Group

Sam Nazarian's hotel and nightclub company has announced plans to acquire a boutique hotel company, Morgans Hotel Group, in an all-cash deal worth $794 million. Nazarian, who started as a nightclub mogul in Los Angeles, is the majority owner of SBE and will retain day-to-day operations after the...

Tags: Nazarian's SBE agrees to buy Morgans Hotel Group,  Hotel Latest News

MAY 09, 2016 - New York Post

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Ron Burkle gets a $200M discount on Morgans Hotel deal

Ron Burkle is getting a $200 million discount in buying Morgans Hotel Group. Burkle and co-investors Sam Nazarian and Jonathan Goldstein have won a years-long battle with Jason Kalisman for control of the hotel, agreeing Monday to buy it for $2.25 a share, a total of $78 million. In November 2013, Burkle bid $8 a...

Tags: Ron Burkle gets a $200M discount on Morgans Hotel deal,  Hotel Latest News

MAY 09, 2016 - MarketWatch

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The Wall Street Journal: High-end Morgans hotel chain dealt to hospitality company SBE for $82 million

A long saga in which the two companies have held on-and-off-again merger talks to draw to a close with SBE paying $2.25 a share in cash for the outstanding shares of Morgans.

Tags: The Wall Street Journal: High-end Morgans hotel chain dealt to hospitality company SBE for $82 million,  Hotel Latest News

MAY 09, 2016 - Business Insider

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Airbnb is invading these US cities

Airbnb is still small, but its footprint is ballooning in some major US cities. In a note to clients, Shaun Kelley and Dany Asad at Bank of America Merrill Lynch laid out just where Airbnb is catching on in the US. "Thematically, we do not believe Airbnb represents an existential threat to the traditional lodging industry; however, home-sharing is an important ...

Tags: Airbnb is invading these US cities,  Hotel Latest News

MAY 09, 2016 - Newsmax

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Miami Faces Glut of Upscale Hotel Rooms as Brazilians Stay Home

Hotels in sun-drenched Miami are getting burned by a pullback in Brazilian travel and a building boom that has added thousands of rooms to the market.Nightly room costs are dropping. Greater Miami's revenue per available room -- a key measure of rates and occupancies known...

Tags: Miami Faces Glut of Upscale Hotel Rooms as Brazilians Stay Home,  Hotel Latest News