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1. MGM Resorts To Sell Operations of The Mirage for $1 Billion
MGM Resorts International announced it has reached an agreement to sell the operations at The Mirage Hotel & Casino to Hard Rock International for $1.075 billion in cash, reports HNN’s Terence Baker. The resort casino’s real estate belongs to MGM Resorts’ spinoff real estate investment trust MGM Growth Properties, which is being acquired by gaming REIT Vici Properties.
Jake Waller, managing director of gaming business advisory New World Gaming, said the deal is indicative of the U.S. hotel transaction market not being slowed down by the pandemic.
“The U.S. market is always buying and selling. It is not immune to COVID-19, but it is moving a lot faster than the rest of the world,” he said.
2. Aimbridge Hospitality Buys Prism Hotels & Resorts
Aimbridge Hospitality, the world’s largest third-party hotel management company, has acquired Prism Hotels & Resorts, a third-party hotel management, investment and advisory services company, reports HNN Bryan Wroten in an exclusive story. The deal brings Dallas-based Prism’s team of 2,145 employees and 48 hotels under Aimbridge’s umbrella.
In an interview, Aimbridge President and CEO Mike Deitemeyer said his company’s interest in exploring hotel receivership led executives to seek out guidance from Prism President and CEO Steve Van.
“They’ve been leaders in the space and really crafted a unique niche in the space, and that led us to reaching out to Steve,” Deitemeyer said. “The reality is ... Prism brings so much more than just that, but that really was the catalyst in the beginning of the conversation.”
3. California Implements Monthlong Indoor Mask Mandate
The state of California has issued a new indoor mask mandate that will expire Jan. 15, the Los Angeles Times reports. The new requirement comes after worries about a winter surge of the delta variant of COVID-19 and the new omicron variant.
Los Angeles County, Ventura County and most of the San Francisco Bay Area have had their own indoor mask mandates since the summer, the article states. The state mandate will be a new requirement of roughly half the state’s population.
“Coronavirus case rates have risen by 50% in the last two-and-a-half weeks, and county health officials across the state say they suspect they may be seeing the start of a winter jump in coronavirus cases,” the article states. “The U.S. Centers for Disease Control and Prevention considers California as having a high level of transmission of the coronavirus, the worst tier in the federal agency’s four-tier scale.”
4. Thousands in Kentucky Remain Without Power After Tornadoes
More than 20,000 of Kentucky residents are without power while more than 10,000 are without water following the series of tornadoes that hit the state over the weekend, USA Today reports. The tornadoes killed 74 in the state, and rescuers continue to search for survivors.
Asian American Hotel Owners Association President and CEO Ken Greene released a statement encouraging hoteliers to donate to relief efforts and to provide rooms to displaced families and first responders.
In an updated statement, AAHOA asks members affected by the tornadoes to contact Mid-South Regional Director Harikrishna (HK) Patel at hk.patel@aahoa.com or to AAHOA directly for additional help, assistance, and support.
“If we don’t know you’ve been impacted by the storm, we can’t help, and we have a whole army of AAHOA volunteers and other community leaders who are standing by,” Patel said.
5. Omicron Variant Upsets Winter Travel Plans
The omicron variant of COVID-19 has complicated holiday travel, particularly international trips, the Washington Post reports. The wave of new travel restrictions and lockdowns have caused many would-be travelers to postpone or cancel their trips.
The U.S. and United Kingdom both implemented preflight testing requirements for international visitors, and the U.K. has a new lockdown in place as well. Starting Nov. 29, Japan stopped allowing nonresident foreigners to enter the country for one month. The Philippines began reopening to vaccinated travelers in November, but the government has since shut down its borders to many foreigners.
Emma Webb, an American, told the newspaper she planned a trip to the U.K. over the holidays so her family could meet her son who was born shortly before the pandemic began. She had to cancel the trip because of the U.K. lockdown.
“I’m concerned whether my family is ever going to meet my kid,” Webb said. “I can’t see a world where there isn’t another variant that pops up.”