Casino billionaire Steve Wynn said that his company, Wynn Resorts Ltd. won't try to become the world's largest casino operator or expand quickly like its competitors.
Wynn has told several times that “Bigger isn't better; better is better.”
The cloud of volcanic ash has snarled flights across Europe, due to which, the owner of Burj Khalifa, the world's tallest building, specified Sunday that its is postponing the opening of a hotel inside, designed by Giorgio Armani.
Burj Khalifa operator Emaar Properties said that the Armani Hotel Dubai will now be inaugurated on April 27, not on Wednesday as planned.
Dubai Airport, in a fresh report, claimed 22.6 per cent increase in the passenger traffic in response to slowly improving conditions of the financial market. Dubai International Airport saw 3.64 million people using its services during the period indicating surge in commercial and tourism activities.
Millennium & Copthorne Hotels Plc, a leading hotel chain across the World, has decided to expand its presence in the UAE and Guld region by opening six brand new hotels in the coming year. The group aims to add over 2000 rooms through the forthcoming hotels coming up in Abu Dhabi, Dubai, Makkah and Oman.
On Friday, the Associated Press reported that MGM Mirage plans to sell its 50% stake in the Borgata Hotel, Atlantic City's top casino, before cut ties with the daughter of an Asian casino mogul.
The agency said in an article, "Las Vegas-based MGM's decision could spark a bidding war for the Borgata, which dominates the USA's second largest casino market, according to the AP story. Co-owner Boyd Gaming has the first dibs on MGM's interest."
Dooms days for the hotel industry of Dubai have not been over yet and the sector is likely to remain under pressure until the end of 2011 and 2012. Hotel room rates, adversely hit due to slump in the hospitality segment, are expected to start improving in late 2011, according to a research conducted by CB Richard Ellis (CBRE).
Premier Inn, the prestigious hotel brand of the UK, has been looking to expand its presence in the Gulf region given to its rising importance in the business and hospitality domain. The hotel, in partnership with Emirates Group, is planning to build 50 hotels in the Middle-East in next few years.
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