Loving the planners. Dream Hotel Group, New York City, announced Thursday it is now offering a 12% commission for qualified groups and meetings that are booked and actualized in 2018. This news comes after Marriott International and Hilton recently reduced its commission to 10%. The offer is available to conference and event organizers, third-party meeting planners and group travel agents through the end of 2018. “In a time where travel agents and meeting planners seem underappreciated, we want to remind them that Dream Hotel Group is here, and we love their business,” said Dream Hotel Group CEO Jay Stein.
Helping the help. In an effort to overcome a shortage of affordable housing that impacts staffing at Noble House Hotels & Resorts’ Teton Mountain Lodge & Spa and Hotel Terra Jackson Hole in Teton Village and Jackson Hole, Wyoming, the management company is building employee housing in just-over-the-border Victor, Idaho. The design and site plan for Westgroup Village is currently being reviewed by the planning and zoning commission. It will boast three five-unit apartment buildings and will consist of two-bedroom and studio apartments. Noble House is also looking at similar projects for its portfolio around the country, and Westgroup Village will serve as a trial for the company.
Wynn fallout. Wynn Resorts reportedly has had preliminary talks about selling to MGM Resorts International its US$2.5 billion Everett gambling resort in Massachusetts. This rumor comes in the wake of an ongoing investigation into sexual misconduct allegations against former company Chairman Steve Wynn.
Grace expands in Caribbean. Grace Bay Resorts, Turks & Caicos, will immediately assume ownership and management of Point Grace, a 35-room boutique resort located less than a mile from its Grace Bay Club on Grace Bay Beach. The resort will be rebranded a Grace Bay Resort property and will retain the Point Grace name, with gradual improvements planned over the next several months.
La Quinta financing. Wyndham Worldwide Corp. announced Friday that its wholly owned subsidiary, Wyndham Hotels & Resorts, Inc., has arranged for commitments from lenders for a US$1.6 billion senior secured term loan facility and has issued US$500 million aggregate principal amount of senior unsecured notes due 2026 in a private offering. The proceeds are expected to be used primarily to finance Wyndham Hotels’ planned acquisition of La Quinta Holdings. Wyndham Hotels has also arranged for a US$750 million senior secured revolving credit facility, under which no borrowings are expected to be outstanding upon the spin-off or the La Quinta acquisition.