City council members in Sioux City, Iowa, will vote today on a proposal to offer financial incentives for the redevelopment of two historic downtown buildings. Key details of the package are a partially forgivable $5 million loan, a share of hotel-motel taxes generated by the development, property tax incentives and reduced city ramp parking rates.
Fairmont Dubai is showcasing a giant chocolate Easter egg created by pastry chef Romain Castet through early April. The egg weighs about 440 pounds.
Virginia's Sheraton Reston Hotel has been bought by DoveHill Capital Management and Wurzak Hotel Group for an undisclosed price. Built in 1973 and renovated in 2014, the 298-key full-service hotel features a state-of-the-art fitness center, the Syrah Restaurant and the Cosmopolitan Lounge.
The Rapid City-Box Elder area in South Dakota has seen 935 new hotel rooms since 2010. With average occupancy at 68%, excess capacity could be a future concern, said Julie Schmitz Jensen, president of Visit Rapid City.
Westin Hotels & Resorts is combining its sustainability and community service initiatives in a program to recycle bed linens into pajamas for children in need. Project Rise: ThreadForward works with three partner groups: the World Sleep Society, Clean the World and Delivering Good.
HNA Group Co. has divested its 22.3 million shares in Hilton Grand Vacations for $1.1 billion. In another transaction, the Chinese conglomerate sold 2.5 million shares back to Hilton Grand Vacations, with the combined sales bringing a 90% return to HNA.
Bobbi Brown is branching out from cosmetics and into hotel development with the soon-to-open George hotel in Montclair, N.J. The 32-key hotel opens April 1.
The Chicago Marriott Downtown Magnificent Mile has finished an update to its event space that began late last year. The hotel has revamped 65,000 square feet of meeting space.