CORAL SPRINGS, Florida, June 23, 2015 /PRNewswire/ --
Major resort developers & hoteliers are exploring growth opportunities abroad as international markets may be offering greater potential due to higher pace of economic growth. Hotels and Resorts that can offer something uniquely compelling are likely to grab market share and the ability to innovate could easily be a key driver to success. Hoteliers, Developers and Gaming Resorts in focus today are: Cabo Verde Capital Inc. (OTC: CAPV), Boyd Gaming Corporation (NYSE: BYD), Isle of Capri Casinos, Inc. (NASDAQ: ISLE), MGM Resorts International (NYSE: MGM), Marriott International, Inc. (NASDAQ: MAR) & Hilton Worldwide Holdings Inc. (NYSE: HLT)
Cabo Verde Capital Inc. (OTC:CAPV) is pleased to announce that it has reached an agreement in principle with a global hotel management company for the Company's hotel project In Santo Antåo. The Company is developing the project in the Republic of Cabo Verde on the island of Santo Antao. The site is over 60,000 sq.m. Definitive documentation is expected to be signed in the next few days and will include details of the commercial terms, that reflect Cabo Verde Capital's business practices which are built on a platform of de-risk and exit strategy in their projects through lease agreements. Read the full CAPV press release at http://www.financialnewsmedia.com/profiles/capv.html
Cabo Verde Capital's activities are based on three main pillars: Real Estate, Hospitality and Casino development and the exploitation of these three segments.
In other resort, gaming & hotel development news and happenings: Boyd Gaming Corporation (NYSE: BYD) announced last week it is pledging $2.5 million to support the expansion of the William F. Harrah College of Hotel Administration at the University of Nevada, Las Vegas (UNLV). The Company will partner with UNLV to help build a new state-of-the art academic building. "Boyd Gaming has been a valued partner of the university for decades," said UNLV President Len Jessup. "We are grateful and appreciative of the investments the company has made in our institution over the years. Their support of the Hotel College will further elevate the program and help attract students who will become future leaders of the industry."
Isle of Capri Casinos, Inc. (NASDAQ: ISLE) reported earlier this month financial results for the fourth quarter and fiscal year ended April 26, 2015 - Fourth quarter Adjusted EBITDA increased 14.8% to $65.6 million year over year. - Fiscal 2015 Adjusted EBITDA increased 15.5% to $200.2 million year over year. - Fiscal 2015 Adjusted EBITDA margin exceeded 20%, up 193 bps year over year. - Reduced debt by $73 million in fiscal 2015 to below $1 billion for the first time since 2000. - Debt to Adjusted EBITDA ratio is below 5x at the end of fiscal 2015. Read the full report at http://finance.yahoo.com/news/isle-capri-casinos-inc-announces-123000075.html
MGM Resorts International (NYSE: MGM) announced that Marcus G. Glover has been named General Manager of Beau Rivage Resort & Casino in Biloxi, Miss. Mr. Glover will be responsible for overseeing the daily operations of the resort while providing strategic direction and leadership. With more than a decade of experience in the gaming and hospitality industry, he has designed and developed properties from the ground up in new gaming jurisdictions, as well as held responsibility for project management, government relations and labor relations.
Marriott International, Inc. (NASDAQ: MAR) and TripAdvisor (NASDAQ: TRIP) announced last week they are expanding their partnership and will add Marriott's global hotel portfolio to the TripAdvisor Instant Booking platform. Starting later this summer, travelers shopping for hotel rooms on TripAdvisor will be able to conveniently make a booking at any of Marriott's more than 4,200 hotels around the world without leaving the TripAdvisor site experience. The agreement also signifies a strategic partnership between Marriott and TripAdvisor to introduce new customers to Marriott's broad portfolio of 19 industry-leading brands.
Hilton Worldwide (NYSE: HLT) recently announced the signing of a management agreement with Pinnacle Nexus Sdn. Bhd. (a member of Cornerstone Partners) to open DoubleTree Resort by Hilton Penang. Located in the northern beach area of Penang near the UNESCO World Heritage Site of George Town, DoubleTree by Hilton Penang Resort will add to the existing pipeline of five hotels in Malaysia where Hilton Worldwide currently operates six hotels under the Hilton and DoubleTree by Hilton brands.
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