Las Vegas Sands Corp. to Pay Down More Than $1 Billion of Debt

Las Vegas Sands Corp. announced that it will pay down more than $1 billion in outstanding debt in conjunction with the previously announced proposed amendment of its United States credit facility.
“We are pleased to announce that we are paying down over $1 billion of debt, which significantly advances our deleveraging strategy,” said Las Vegas Sands [...]

Range Hospitality to build five-star Iraq hotel

Range Hospitality is to develop the first five-star hotel in Karbala — Iraq’s pilgrimage centre.
Around 18 million pilgrims visit Karbala every year, and Al Rawdatain Gardens will cater to the significant shortage of hotel accomodation in the area.
The first modern development to be built in Karbala, Al Rawdatain Gardens will feature an elegant 12-storey [...]

International & Chinese industry players to ride next MICE wave.

Early indications signal a healthy outlook for China’s 2011 MICE market. Chinese and international MICE suppliers confident of surging market demand have committed to exhibiting at IT&CM (Incentive Travel & Conventions Meetings) China 2011, China’s leading international MICE trade event, as early as one year in advance.
Among them is the ultra-luxurious Pangu 7-star Hotel Beijing, [...]

Oman gets first alcohol-free 5-star hotel

Cashing in on the new concept of Islamic hotels worldwide, especially in the GCC, Oman announced yesterday the launch of its first alcohol-free, five-star hotel. The Platinum, the first alcohol-free, 5-star hotel in the country, opened for guests on August 25.
Addressing a press conference at the Saphire ballroom of Crystal Suites [...]

A third of Swiss hotels must close

The Swiss hotel industry might be picking up, but the head of the Swiss Hotel Association believes more than a thousand hotels might not survive the next ten years.

“Building a hotel where people can sleep, eat and drink is not good enough anymore,” Guglielmo Brentel, said the president of the Swiss Hotel Association (hotelleriesuisse).
“There [...]

Space tourism company folds

An aerospace company that had once hoped to soar in the space tourism business may end up landing in bankruptcy court.
Rocketplane filed for Chapter 7 bankruptcy last month in Wisconsin, where the company moved after closing its Oklahoma City headquarters and relinquishing its hangar at the Oklahoma Spaceport in Burns Flat in 2009.
Chief Executive Officer [...]