Hospitality Industry News - Development

Accor announced its strategic expansion plans for Vietnam. This plan includes additional hotels within the Novotel, Mercure hotel brand, launching of the ibis brand and MGallery label and the ambitious goal of doubling the number of rooms under management in the Vietnam by 2012. - More

A financing alternative that frees up capital allowing the owner to invest back into the same or different business. - More

Rick's Cabaret International, Inc. (NASDAQ: RICK) and VCG Holding Corp. (NASDAQ: VCGH) have extended from March 12, 2010 until March 31, 2010 the Letter of Intent for a merger under which Rick’s Cabaret would acquire the outstanding shares of VCG Holding to form the largest publicly traded operator of upscale gentlemen's clubs in North Amer... - More

Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation’s largest independent hotel management company, today announced that its stockholders approved, at a special meeting held today, the merger agreement by which Interstate will be acquired by Hotel Acquisition Company, LLC. - More

Wyndham Vacation Ownership, a member of the Wyndham Worldwide family of companies (NYSE:WYN), today announced it has entered into an exclusive sales and marketing agreement with Towers on the Grove, LLC. - More

Third Renaissance and first Marriott Executive Apartments properties are scheduled to open in Tianjin later this year - More

Westgor & Associates, Inc., charter member of Hotel Brokers International, announces the sale of the 60 unit Americas Best Value Inn located in Stevens Point, Wisconsin, to Shree Laxmi Naryam. Jeff Westgor, CHB, President of Westgor & Associates Inc., represented the seller – US Assets. Financing was an SBA 7A loan. - More

Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) today announced that Pebbles Acquisition Sub, Inc., a wholly owned subsidiary of GMCR, has extended its previously announced $35.00 per share cash tender offer to purchase all outstanding shares of common stock of Diedrich Coffee, Inc. (NASDAQ: DDRX). - More

Company completes comprehensive financial and operational restructuring - More

Yesterday the New Jersey Casino Control Commission approved the acquisition of the New Jersey Tropicana Casino & Resort by an entity owned 46% by affiliates of Carl C. Icahn. - More