U.S. labor rule: The American Hotel & Lodging Association today praised the Department of Labor’s decision to rescind an Obama administration rule that expanded the joint employer standard established under the National Labor Relations Board’s (NLRB) 2015 Browning-Ferris Industries of California decision. Business groups have complained that the ruling created confusion around following the NLRB or the administration’s guidance.
Intrawest: A group of investors in Denver, Colorado-based developer Intrawest dropped a lawsuit that aimed to block the company’s US$1.5 billion merger with Aspen Skiing Company and private-equity firm KSL Capital Partners LLC. No reason was given.
Read more at Law 360 (registration required)
Four Seasons: The Four Seasons Resort Bora Bora in French Polynesia was sold by developer Thierry Barbion and Alatau Hospitality, an investment fund of Lancaster Group Kazakhstan, to a private-equity fund led by Gaw Capital. JLL handled the transaction. A purchase price was not named.
Hyatt: Developers of a proposed US$310 million Hyatt Regency hotel that is part of a convention center are awaiting approval today from Kansas City, Missouri’s city council. The development had been opposed by a citizens group.
Read more in the Kansas City Business Journal
Vail Resorts: Vail Resorts closed on its US$41 million acquisition of Stowe Mountain Resort in Stowe, Vermont, from Mt. Mansfield Company, a subsidiary of AIG.