The family real estate company once run by Jared Kushner is buying a hotel on the Lower East Side of Manhattan, the third hotel it has purchased this year. The Kushner Cos. said Tuesday that it is in contract to buy the 20-story Hotel on Rivington for an undisclosed amount. The company known for residential and office buildings bought two hotels in Long Branch, New Jersey, earlier this year. The company bought more than two-dozen apartment buildings in lower Manhattan when Jared Kushner was CEO. He stepped down from that position last year to become an adviser to his father-in-law, President Donald Trump. The Hotel on Rivington has a cocktail lounge and a three-story penthouse. A room with a king-size bed goes for more than $300 a night.
Create: Nov 27, 2018 Edit: Nov 27, 2018 International NewsAirbnb is one of the big anticipated IPOs of next year and it's finally giving the public a taste of its revenue for the first time in its ten year history. The home-sharing startup recognized "substantially more" than $1 billion in revenue in the third quarter, according to a memo to be publicly released by Airbnb Friday. That would make it the company's strongest quarter since it was established in 2008. While other large private companies like Uber and WeWork have started to release more of their financial information ahead of public market debuts, Airbnb has held back. The company wouldn't comment on profitability or other data points, though a spokesperson told CNBC, "we'll continue to provide updates regarding our work as we go forward." But according to one person close to the company's financials, Airbnb is on track to be profitable for the second straight year, as measured by earnings before interest, taxes, depreciation and amortization. In 2017, the company posted $100 million in profit on $2.6 billion in revenue, said the source. Airbnb has been without a CFO since February when Laurence Tosi left, raising questions about who might help take Airbnb public when it is ready. He was highly regarded by Wall Street and helped turn the start-up profitable on an EBITA basis during his tenure. CEO Brian Chesky said the company would be ready to go public by mid-2019, but the company hasn't decided when. Airbnb is one of the most valuable start-ups in the US at $31 billion.
Create: Nov 19, 2018 Edit: Nov 19, 2018 International NewsCreate: Nov 19, 2018 Edit: Nov 27, 2018 TV
Create: Nov 19, 2018 Edit: Nov 27, 2018 TV
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Create: Nov 17, 2018 Edit: Mar 17, 2019 International Hotel Management SoftwareQatar is considering offers from Iran to host teams during the 2022 World Cup, as an alternative to the boycotting GCC countries which it had originally planned on working with. According to the chief organiser of the event, Hassan Al Thawadi, Iran has recently offered to host teams who will play in tiny Qatar in the World Cup which starts in four years time. When asked whether teams could be based in Iran, Mr Al Thawadi said Qatar had received "numerous proposals from countries with regard to hosting teams" around the time of the tournament. Mr Al Thawadi said he hoped Qatar's neighbours would lift a ban on their citizens visiting Qatar in time for the World Cup, which kicks off on November 21, 2022. The country's original pitch in its bid to host the tournament included plans to use facilities elsewhere in the Gulf. "I hope the blockading nations can see the value of this major tournament and can allow for their people to benefit from this tournament," he said.
Create: Nov 17, 2018 Edit: Nov 17, 2018 Regional NewsMr. Gabriel Escarrer Jaume, Executive Vice Chairman and CEO of Meliá Hotels International, the group’s Chief Operating Officer, Mr. André Gerondeau, and the Regional Vice President Asia Pacific, Mr. Bernardo Cabot, recently ended their Asia Pacific tour, during which they visited China, Thailand, Vietnam and Indonesia. During Mr. Escarrer’s trip, the company signed three new hotels: Meliá Hoi An and Meliá Phu Quoc in Vietnam, and Meliá Phuket Karon in Thailand. These new properties take Meliá Hotels International’s portfolio in Asia Pacific to 51 hotels, all scheduled to be fully operational by 2022. The company has seen spectacular growth over the last 6 years, growing from 6 operating hotels to 51 hotels in operation and pipeline. Since opening Meliá Bali in 1985, its first international hotel, Meliá has had a very strong focus on Asia, where it now has an extensive portfolio in 7 countries. In the medium term, the company expects that the growth of its Gran Meliá Hotels & Resorts, Meliá Hotels & Resorts, Sol by Meliá and INNSIDE by Meliá brands in the region may contribute to financial results and importance similar to that of their well-established and renowned Caribbean hotels. Furthermore, the company would like to bring other brands like ME by Meliá and Paradisus by Meliá from its portfolio to key destinations in APAC region. Over the last decade, the company has also focused heavily on China, a huge market in which it continues to make firm and consistent progress in increasing its hotel portfolio.
Create: Nov 13, 2018 Edit: Nov 18, 2018 International News