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Travel Roundup: Tropicana's Las Vegas Spin-off, Heathrow Protests, Bombardier's Las Vegas Contract and More

By Barbara E. Hernandez | Jan 19, 2009

Tropicana plans Las Vegas separation in bankruptcy reorganizationTropicana Entertainment LLC gave its reorganization plans to a federal bankruptcy court in Delaware which call for converting $2.74 billion of debt to stock and splitting the company into two separate entities — Tropicana Las Vegas and the company’s 10 other properties. In May 2008, Tropicana Entertainment filed for Chapter 11 after it couldn’t pay $2.7 billion in debt. The default occurred after the New Jersey Casino Control Commission voted in late 2007 not to renew the license for the company’s Atlantic City property. Last September, the company were in talks to sell the casino for $700 million. It still remains on the block. [Source: GlobeSt]

Hundreds protest Heathrow expansion — Around 300 protestors, both environmentalists and locals, demonstrated against Heathrow Airport’s proposed third runway expansion which was approved last week. Around 700 homes will be demolished in nearby Sipson to make way for the new runway which will raise flight capacity from 480,000 to 702,000 a year. Environmentalists say the new runway will only increase carbon emissions. [Source: BBC]

Bombardier will continue to operate Las Vegas monorail — Montreal-headquartered Bombardier Inc. announced Monday it received a $58 million, five-year option from the Las Vegas Monorail Company to continue operations. The Las Vegas monorail shuttles passengers along a 6.4-kilometer stretch on the east side of the Las Vegas strip. Bombardier, based in Berlin, has maintained and operated the monorail system since 2004 and which has carried approximately 33 million passengers. [Source: Globe and Mail (Toronto)]

Bathtubs disappearing in new hotelsNYLO Hotels, a chain of hotels that caters to business travelers decided to forgo bathtubs in its contemporary, lofty rooms. Market research and focus groups told the company that most of their aged 22 to 55 clientele weren’t into tubs. Aloft Dulles North also went with shower-only bathrooms and more Aloft brand hotels are heading in that direction, opting to give customers roomy showers and curtailing the use of hard-to-clean bathtubs. The trend is expected to continue for new hotels. [Source: BuyerInteractive]

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:
  • Court Approves Tropicana Reorganization Plan

    New York Times - 202 days 7 hours 18 minutes ago

    Tropicana Entertainment, which owns the Tropicana Casino and Resort on the Las Vegas strip, said Tuesday that a federal bankruptcy court judge in Delaware had approved its plan to emerge from bankruptcy, allowing it to shed billions of debt and reduce its interest expenses

  • With Reorganization Plan, Muzak Changes Its Tune

    New York Times - 73 days 21 hours 57 minutes ago

    Muzak Holdings, the bankrupt elevator music provider, may soon be able to get off the 11th floor. On Thursday, it filed a reorganization plan with a Delaware bankruptcy court that would reduce its debt

  • Visteon seeks more time for reorganization plan

    Auto News - 62 days 3 hours 19 minutes ago

    Visteon Corp. is asking for more time to submit its reorganization plan to the U.S. Bankruptcy Court in Delaware. The plan was originally due Thursday

  • Lear aims to convert $1.6 billion of debt to stock

    Detroit Free Press - 98 days 3 hours 19 minutes ago

    Lear Corp., the Southfield-based automotive seatmaker that filed for bankruptcy last month, plans to convert much of its debt into stock to help bring the company out of Chapter 11 protection. The company, in court papers filed Friday, said it plans to convert $1.6 billion in debt owed to its lenders into a 26% stake of Lear common stock

  • Fuselages, Bizjets -- and a Casino?

    Aviation Week - 187 days 11 hours 47 minutes ago

    Onex Corp., the Canadian buyout firm that dived into aerospace in recent years by acquiring Boeing fuselage producer Spirit Aerosystems and business jet builder Hawker Beechcraft, plans to take control of a Las Vegas casino. The Wall Street Journal reports that Onex plans to take control of the Tropicana, the storied by faded casino and...

 

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