MGM Grand Las Vegas Sold for $2.5 Billion

January 14, 2020

MGM Resorts International (NYSE: MGM) today announced that it has entered into a definitive agreement pursuant to which a newly formed joint venture between MGM Growth Properties LLC and Blackstone Real Estate Income Trust will acquire the MGM Grand Las Vegas real estate assets in a transaction valued at approximately $2.5 billion, which represents a multiple of 15.75x rent.
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Eldorado Shreveport Resort and Casino Sold for $230 Million in Cash

January 14, 2020

Eldorado Resorts, Inc. (NASDAQ: ERI) announced yesterday that it has entered into a definitive agreement to sell the Eldorado Resort and Casino in Shreveport, Louisiana to Maverick Gaming LLC for $230 million in cash, subject to a working capital adjustment.
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SO/ to Open Its First Hotel in Spain

January 14, 2020

SO/ Hotels & Resorts, together with Sotogrande SA have signed a management agreement to open the first SO/ property in Spain. SO/ Sotogrande Resort & Spa will reflect the brand's rebellious luxury in this idyllic setting within the Costa del Sol.
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Fiesta Restaurant Group, Inc. Announces Taco Cabana Closures

January 14, 2020

Fiesta Restaurant Group, Inc. yesterday announced that it will close 19 Taco Cabana restaurants in Texas, effective immediately. Nearly all employees impacted by the closures will be offered positions at other Taco Cabana locations.
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Hotel Nikko Kaohsiung to Open 2023 in Taiwan

January 14, 2020

Okura Nikko Hotel Management Co., Ltd., a subsidiary of Hotel Okura Co., Ltd., announced yesterday that it will open the Hotel Nikko Kaohsiung in 2023. The company has contracted with Fanlu Construction Industry Co., Ltd., to manage the new property, with the support of an investment by Daiwa House Industry Co., Ltd. and Continental Development Corporation.
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Radisson Hotel Apartments Delta Istanbul Esenyurtis to Open in 2022

January 14, 2020

Radisson Hotel Group announced its 15th hotel in Istanbul with the signing of Radisson Hotel Apartments Delta Istanbul Esenyurt. Active in several important cities in Turkey, the Hotel Apartment project will be located in one of the most rapidly growing areas of Istanbul.
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