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Travel Roundup: MGM Mirage's CityCenter Lawsuit, Alaska Cancels For Erupting Volcano, Rise of Micro-Hotels and More

By Barbara E. Hernandez | Mar 23, 2009

Dubai partner sues MGM Mirage over CityCenter – Infinity World reported that it is suing its CityCenter partner, MGM Mirage, to protects its investment and rights in the project. Infinity World is a part of Dubai World, a Dubai developer partnered with MGM Mirage in the $8.6 billion CityCenter complex on the Las Vegas Strip. Infinity says that recent statements about MGM Mirage’s poor financial condition have breached their joint-venture agreement and is putting the project at risk. MGM Mirage is currently $13 billion in debt and announced the possibility of default and bankruptcy in its recent annual report. Dubai World owns a 50 percent stake in the CityCenter project. [Source: Associated Press]

Alaska Airlines cancels 19 flights because of volcano eruptionAlaska Airlines cancelled 19 flights because of an erupting volcano near Anchorage. The airline called the cancellations merely safety precautions because of volcanic ash at high altitudes. About 50 flights operate out of Anchorage. [Source: San Francisco Business Times]

Micro-hotels rise in favor – With a busted economy, travelers looking for low prices may accept the newest kind of lodging, the micro-hotel. The small rooms, some 7 feet by 8 feet, have success in Europe and are now being tried in urban areas like New York City, where hotel bargains are rare. One 150-room hotel, The Jane, designs the rooms to look larger and uses extra space for storage. The rooms also feature flat-screen TVs, wireless Internet, 350-count sheets and a few other amenities. However, many bathrooms are communal, which is a tough sell. [Source: Associated Press]

AirTran offering nonstop Atlantic City to Atlanta flights - AirTran Airways will begin nonstop flights from Atlanta to Atlantic City International Airport twice daily beginning in June. New Jersey Gov. Jon S. Corzine announced the agreement Monday which he said would help the city’s struggling casinos. Three of the 11 Atlantic City casinos are in bankruptcy. [Source: Newsday]

Bay Area resident and award-winning business journalist Barbara E. Hernandez has covered tourism, real estate and personal finance. Her clients include the New York Times, Los Angeles Times, San Francisco Chronicle and Washington Post.

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Web Buzz:
  • Dubai World Sues MGM Mirage Over City Center Project

    New York Times - 246 days 5 hours 40 minutes ago

    The Dubai developer helping build the $8.6 billion CityCenter complex on the Las Vegas Strip said Monday it is suing struggling partner MGM Mirage amid concerns about the project's viability, The Associated Press reported. Dubai World said its Infinity World subsidiary filed the lawsuit in Delaware Chancery Court "to protect its rights and the...

  • Travel Roundup: MGM Mirage CityCenter Bankruptcy, Southwest Reaches Labor Agreement, Less Baggage Mishandling and More

    BNET Travel - 242 days 16 hours 40 minutes ago

    Sources say CityCenter close to bankruptcy - MGM Mirage and Infinity World's $8 billion Las Vegas development, CityCenter, may file bankruptcy, reports say.  MGM Mirage partnered with Infinity World, owned by Dubai World, to operate the project on the Las Vegas Strip which will feature casinos, shopping, hotels and condos, but earlier this...

  • Las Vegas CityCenter may file for bankruptcy: reports

    MarketWatch - 242 days 21 hours 3 minutes ago

    NEW YORK (MarketWatch) -- Las Vegas' CityCenter, an $8.6 billion joint project between gambling giant MGM Mirage and Dubai World, may file for bankruptcy protection, according to published reports. The news sent MGM (MGM:MGMNews , chart , profile , moreLast:Delayed quote dataAdd to portfolioAnalystCreate alertInsiderDiscussFinancialsSponsored...

  • MGM Mirage Averts CityCenter Bankruptcy

    New York Times - 242 days 15 hours 29 minutes ago

    MGM Mirage, the embattled casino operator, staved off a bankruptcy filing for its CityCenter development in Las Vegas by making a $200 million interest payment on Friday. Included in that payment is $100 million that MGM Mirage is covering for Dubai World, its partner in the sprawling resort and casino development. Dubai World has sued MGM

  • MGM Mirage and Dubai World Reach CityCenter Deal

    New York Times - 209 days 9 hours 29 minutes ago

    MGM Mirage and Dubai World said Wednesday that they had reached an agreement with their lenders on a plan to fully finance CityCenter, an $8.5 billion residential and casino development on the Las Vegas Strip

 

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