AEG hopes to take advantage of a rebound in hotel prices to raise hundreds of millions of dollars to help fund a planned expansion of L.A. Live.
Entertainment giant AEG plans to raise hundreds of millions of dollars to help fund a planned expansion of the L.A. Live hospitality complex in downtown Los Angeles by selling part ownership in the Ritz-Carlton and JW Marriott hotels there.
AEG is looking for a partner with deep experience in the hotel industry, Vice Chairman Ted Fikre said. “Hotel operation is not our core business.”Money raised by the sale will be used to help pay for a long-planned expansion of the JW Marriott that was stalled by the pandemic, he said, and to invest in several of AEG’s business units, including ticketing and live entertainment such as music festivals and concert tours.
L.A. hotel bookings in October and November are back to 2019 levels, well above the national average. Hotel sales exceeded $38 billion last year, according to JLL, up 395% from 2020 when the pandemic virtually froze travel for months and threatened to put hoteliers out of business. The Ritz-Carlton and JW Marriott were among the hotels that temporarily closed.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Activist Swallows Abortion Pill on Live TVArtist and activist Jex Blackmore took mifepristone during a debate with an anti-abortion speaker.
Leer más »
CBS News LiveU.S. draws down presence at Ukraine Embassy; tax season officially gets underway; and robot bartender serving up Olympic drinks. Here's what's coming up on CBS News:
Leer más »
COVID-19 live updates: New Zealand imposes restrictions amid omicron outbreakNew Zealand Prime Minister Jacinda Ardern revealed that her own wedding will be postponed as she announced a new set of COVID-19 restrictions amid the country’s first omicron outbreak.
Leer más »
Weather Chicago: Winter storm brings snow to area; more expected Monday | Live radarA winter storm dumped several inches of snow across the Chicago area over the weekend, causing some drivers to spin out amid slick conditions.
Leer más »
TikTok testing new Video Avatar Tools, audio-only live streams, and moreTikTok is testing a couple of new features, and thanks to social media expert Matt Navarra, we have inside information on how they look and what they actually do.
Leer más »
Alec Baldwin, producers say they didn't 'intend' to use live ammo, ask judge to dismiss suitA lawyer for the movie star argued in a court filing that a civil suit over the accidental shooting should be thrown out.
Leer más »