Nomura Tops Marriott Bid for Le Méridien Chain

May 2, 2001 – Financial Times Nomura International has outbid Marriott International, the US-based hotel group, for the Le Méridien chain of international hotels with a headline offer of £1.85bn.($2.7bn) The bid puts the principal finance arm of the Japanese bank, headed by Guy Hands, in pole position to be granted exclusive talks. However, Compass … Read more

Swissotel's WAP Technology Provides Real Time Information

SwissÙtel Hotels & Resorts provides service to guests even before they arrive. The company recently put in place the latest cellular internet technology, making pertinent information on any of its hotels around the world readily and easily available. This real time information, easily updated daily by the hotels, is available through WAP, or Wireless Application … Read more

MasterCard Announces Chargeback Rules Revisions

October 31, 2000 — AH&MA — MasterCard International has revised its global chargeback rules for guaranteed reservation policies at hotels and motels across the nation. The changes give lodging properties the right to dispute chargebacks when the are received following a guaranteed no-show – when cardholders deny having made a guaranteed reservation or claim they … Read more

Boston Properties Announces Exercise of Over-Allotment Option

BOSTON, Nov. 2 /PRNewswire/ — Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, announced today that Goldman, Sachs & Co. and Morgan Stanley Dean Witter, the joint bookrunners and joint lead managers for its recently announced equity offering, have exercised their over-allotment option to purchase an additional 2,110,000 shares of common stock. As … Read more

Interstate Hotels Corporation Reports Third Quarter Results

PITTSBURGH–(BUSINESS WIRE)–Nov. 13, 2001–Interstate Hotels Corporation (Nasdaq:IHCO), one of the largest independent hotel management companies in the United States, today announced results for the third quarter ended September 30, 2001. For the third quarter of 2001, the Company reported a net loss of $4.4 million compared to a net loss of $4.2 million reflecting earnings … Read more