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Type: Posts; User: CaitlinA

  1. Posts
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    The Fountainbleau Las Vegas got a mention in Exhibit City.

    Moving swiftly toward its global debut in the fourth quarter of 2023, Fontainebleau Las Vegas is positioned to meet the growing demand for in-person meetings and conventions with a revolutionary, experience-driven approach to business travel that takes full advantage of its coveted location, upward-thinking design, and unparalleled accessibility.
    The 67-story, vertically integrated luxury destination conceived by Fontainebleau Development will host more than 550,000 square feet of customizable indoor and outdoor meeting and convention space, with countless configurations throughout five levels of the resort, allowing experiences to be tailored to every preference.

    Among the highlights: an elegant, pillarless ballroom spanning more than 105,000 square feet – one of the largest in Las Vegas – that is easily divisible to meet a variety of needs; a three-level, more than 90,000-square-foot theater with generous pre-function space capable of hosting business functions to entertainment, nearly 62,000 square feet of additional space that can be used to create up to 57 breakout rooms, three executive boardrooms overlooking almost 25,900-square-foot of an outdoor hospitality garden that, like much of Fontainebleau Las Vegas, provides a seamless connection to the natural beauty that surrounds the city.

    With six dedicated freight elevators, the Conference Center offers unrivaled flexibility and ease for planners to bring their meetings and conventions to life – whether they are preparing for large gatherings or intimate conversations.
    Source: https://exhibitcitynews.com/fontainebleau-revolutionizes-convention-experience/?fbclid=IwAR0VHC3cEZh05BXHkIzZIl-A0fIiSXwMtUdKaVnF2IDhAUAOeWGl87rXBww
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    A deadline for accepting tenders for Silk City was set for 31 March 2022 according to the wiki page, but there is no news online about it now that it is April 2022. Silk City got a mention in Jan 2022 on Retail Leisure International:

    Madinat Al Hareer – also known as Silk City is one of the largest mixed-use project development concepts in the world. The whole project submittal was created as a voluntary initiative by Tamdeen Group in collaboration with Ajiyal Real Estate & Entertainment Co. and has received blessing and approval from the Kuwait Municipal Council, Planning Authority and the State’s Cabinet. It reflects the company’s vision of Kuwait’s potential to create an integrated and uniquely designed city that will raise the standard for urban architecture and planning throughout the world – a collaborative partnership between the private and public sector. The development plan aims to provide a comprehensive and integrated commercial and residential environment that combines innovation with superior design and would provide a whole new urban space for Kuwait’s ambitious expansion plans.
    Source: https://www.rli.uk.com/gcc-signs-of-resilient-recovery/
    Source: https://en.wikipedia.org/wiki/Madinat_al-Hareer

    The project also got a mention in the Arab Times on March 20, 2022 when the National Assembly met to discuss budgets. The budget for the Silk City project was referenced as "a lie." Complaints were documented saying that the Kuwait 2035 vision must include more basic infrastructure solutions and solve problems like demographic imbalance, citizenship issues, visa trafficking, etc.

    During the discussion the MPs stressed the need to address urgent and vital issues like education, health, housing, employment and demographic imbalance. MP Bader Al-Humaidi said the Silk City project, which has been in the government program since 2007, is a big lie. He pointed out this project remains in limbo and it has yet to be implemented even if the required budget is available. He added the government submitted another project – the development of Bubyan Island, which is still in the hands of the parliamentary Financial and Economic Affairs Committee for further study. So far, it has been found that the proposed projects should be established only on the periphery of the island because of the nature of its soil, he revealed.
    Source: https://www.arabtimesonline.com/news/kuwait-has-become-state-for-expatriates/
  3. Thread: Al Marjan Island

    Post by: CaitlinA
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    If you follow the source link below, there's a video update from April 2022 from Al Ali Construction and Development's LinkedIn page.



    Here's a screenshot from the video:


    Construction is getting closer to handing over on the Movenpick Hotel and Resort, at Al Marjan Island, Ras Al Khaimah. The project witnessed greater progress for both towers. The internal and external finishing works are mostly complete, with only a few enhancements left to finish.
    Source: https://www.linkedin.com/feed/update/urn:li:activity:6921706213768339456/
  4. Thread: Mandai Project

    Post by: CaitlinA
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    They seem to have done a bit of rebranding so far this year. Wildlife Reserves Singapore is now Mandai Wildlife Group.

    Separately, last October, Wildlife Reserves Singapore rebranded to Mandai Wildlife Group to encompass both the zoological park operations and the ongoing rejuvenation work at the Mandai precinct. The newly integrated destination, Mandai Wildlife Group, will house all of Singapore's wildlife parks along with a visual refresh for the parks. Along with the group's new corporate identity, a new "Masterbrand Mandai", which embodies the passion and commitment for a thriving, biodiverse planet, was also unveiled.
    Source: https://www.marketing-interactive.com/mandai-wildlife-social-pitch

    Mandai Wildlife Group has named Jean Choi its chief sales and marketing officer as Irene Lin leaves to join Marina Bay Sands (MBS) as SVP and CMO, resort marketing. Lin (pictured left) joined Mandai Wildlife Group, previously known as Wildlife Reserves Singapore...
    Source: https://www.marketing-interactive.com/mandai-wildlife-new-cmo-irene-lin
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    City of Dreams Mediterranean in Cyprus seems to be on track to open for summer of 2022. Here's an image from March 2022.



    Source: https://www.instagram.com/p/CbgHr5pMT4e/
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    Scoured the internet for updates on the Midfield terminal project after the drone strike and fire in January, and was only able to find activity on LinkedIn. A quick search reveals people are being hired for jobs in the Midfield terminal, and this image posted by a former MEP project director on April 17, 2022 entitled "ABU DHABI Midfield Passenger Terminal Steel Structure." It's an old photo because he didn't work there after 2017 and the google satellite image shows that part has been completed. It looks fairly complete on the outside so hopefully an opening date will be coming soon.

    Nothing else on the internet...

    MEP project director LinkedIn photo (old) entitled "ABU DHABI Midfield Passenger Terminal Steel Structure" posted April 17, 2022:



    Source: https://www.linkedin.com/in/hakan-k-774246184/

    Google Earth satellite image as of April 20, 2022:

  7. Posts
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    Looks like trouble for Hong-Kong based Macau Legend Development Ltd. They are the firm that owns the project at Cape Verde and it looks like their stock is / was getting suspended as of April 1 due to not being able to publish their numbers on time due to COVID shortages.

    Also bad news for Macau executive director:

    Following his detention by Macau authorities on suspicion of illegal running of gambling operations and money laundering, Mr Chan resigned from his roles as an executive director, the co-chairman and the chief executive of the Macau Legend, with effect from January 31.
    Source: https://www.ggrasia.com/macau-legend-says-stock-likely-suspended-in-hk-from-april-1/
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    The project got a mention in Seeking Alpha on April 6, 2022 which references a few details about cruise ships that will launch in 2024 / 2025:

    Disney is seeking to expand the Disney Cruise Line business, to include three more ships, with the first being launched in June 2022, with the others being delivered in 2024 and 2025. The new ships are slightly larger than the Disney Dream and Disney Fantasy - but hold the same 1,250 room layout. In addition, these ships are liquid natural gas powered. Disney has an ongoing agreement with the Government of the Bahamas to create a new resort at "Lighthouse Point" on the island of Eleuthera, which is scheduled to open in 2024 as a new Disney Cruise Line experience.
    Source: https://seekingalpha.com/article/4500065-disney-is-a-buy

    Also, recently from Eyewitness News on April 5, 2022:

    Disney Cruise Line has named Joey Gaskins, based in New Providence, as Regional Public Affairs Director, The Bahamas and Caribbean.

    In this newly created position, Gaskins will support Disney Cruise Line and other Disney Signature Experience business initiatives in The Bahamas and Caribbean by building relationships and serving as Disney’s liaison for external stakeholders, including government agencies, community leaders, the non-profit community, media, and internal business leaders.

    ...

    Disney Cruise Line has committed to filling all positions on Castaway Cay with Bahamians across a range of disciplines with opportunities for training and advancement. Disney recently received the necessary approvals from the Government of The Bahamas to begin work at Lighthouse Point, which is expected to create more than 300 construction-related roles – more than double the number of jobs Disney Cruise Line committed to in its Heads of Agreement.
    Source: https://ewnews.com/disney-cruise-line-creates-new-comms-role-hires-bahamian-joey-gaskins
  9. Posts
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    Travel and Leisure’s 2022 “It List” is out and we’re delighted to share that we’ve been named one of the Best New Hotels in the World!


    Source:https://www.facebook.com/FourSeasonsResortNapaValley/photos/a.1226860440993671/1728964207449956
  10. Thread: Resorts World Miami

    Post by: CaitlinA
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    From The Edge Markets, news that Genting's recent financial issues won't affect the project in Miami from moving forward. Also, another monorail rendering:



    Genting's HK cruise ship woes will not rock Miami-Dade County’s monorail talks — report:

    KUALA LUMPUR (Jan 27): Genting Bhd, which is at the centre of Miami-Dade County’s monorail talks, expects no complications from the liquidation of Genting Hong Kong. In a report Wednesday, the Miami Herald said representatives for the monorail partnership, which includes Paris-based investment firm Meridiam, said there is no exposure from Genting Hong Kong’s liquidation.

    “Genting Hong Kong’s [and its subsidiaries’] operations have no impact — financial or otherwise — on Resorts World Miami or on the monorail project. Genting Hong Kong is a public company that is not a subsidiary nor an entity of Genting Malaysia Bhd or its Resort World properties,” the report cited Damien Kolosky, senior investment director at Meridiam, as saying.
    Source: https://www.theedgemarkets.com/article/gentings-hk-cruise-ship-woes-will-not-rock-miamidade-countys-monorail-talks-%E2%80%94-report
    Another source confirming: https://www.thenextmiami.com/monorail-to-miami-beach-will-not-be-impacted-by-genting-hong-kong-issues/
    Monorail Image source: https://www.condoblackbook.com/blog/resorts-world-miami-submits-plan-for-monorail-and-bus-station/
  11. Posts
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    Dara Sakor Resort and Airport was covered in a recent article in the Global Times (May 2022). Some info on attitudes between US / Cambodia / China and how it's affecting the site. There was one photo in the article of the site from above. It's an image of the planning map for the Dara Sakor project, Courtesy of Coastal City Development Group Co.

    "The smearing of the BRI by the West did not happen today, it has always been there, and it is based on their political needs. With slandering used as a bargaining chip in asking prices locally, the US has deliberately damaged China's image in local people's hearts and has hindered the advancement of the project," Xu Liping, director of the Center for Southeast Asian Studies at the Chinese Academy of Social Sciences in Beijing, told the Global Times on Wednesday.

    The port and airport projects within the Dara Sakor integrated resort matches with local needs to improve people's livelihood, which will obviously enhance the country's logistics and transportation and promote the development of regional economy after completion, Xu said.

    "We'll maintain and strengthen strategy on ecological civilization construction, unswervingly follow the path of ecological priority and green development, and continue to promote green, low-carbon development," the Coastal City executive noted.


    Source: https://www.globaltimes.cn/page/202203/1255001.shtml
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    Mention of the St. Regis Riyadh on Arab News in the article linked below:

    Marina Krasnobrizhaya named GM of St. Regis Riyadh.

    “I am delighted to take on this new role and look forward to working with the team to deliver an uncompromising level of bespoke service and exquisite experiences in the city’s best address,” said Krasnobrizhaya.

    Owned by Sela, The St. Regis Riyadh is expected to offer 83 guestrooms, including 23 suites, two signature restaurants, an outdoor pool, fitness center and spa. The St. Regis Riyadh will also feature the brand’s signature hallmarks and traditions, including its bespoke butler service and avant-garde style. The property will be a key part of “Via Riyadh,” a luxury mixed-use development with retail and entertainment outlets, located in the main zone of the Riyadh Season — the city’s five-month arts and culture festival.
    Source: https://www.arabnews.com/node/2041811/corporate-news
  13. Posts
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    The Ritz Carlton Jiuzhaigou was mentioned in TTG Asia on 11 March 2022:

    Demonstrating continued confidence in the recovery and long-term tourism growth of Greater China, Marriott International says it will add more than 50 hotels in over 30 destinations across the region this year, with the 500th hotel set to open in early 2023.

    Marriott International’s expansion will include a growing presence of luxury hotels in leisure destinations, such as a Ritz-Carlton Reserve in China’s Jiuzhaigou Valley and W Macau – Studio City scheduled to open this year; an injection of more than 15 premium branded hotels in popular getaways cities such as Chengdu, Xi’an, Sanya and Qinhuangdao; and a larger Sheraton portfolio.

    The company’s select service brand portfolio will continue to drive growth in Greater China, with more than half of all hotels in the pipeline belonging to that category. According to WTTC and Trip.com‘s Trending in Travel report, rural and suburban destinations in China demonstrated strong growth in booking rates in 2021, which indicates an increased tendency among people to travel beyond first-tier cities. In light of this trend, Marriott International will further expand the presence of its select service brands in secondary and tertiary destinations this year.

    In a press statement, Henry Lee, president, Greater China, Marriott International, said: “Greater China is an important growth market for us. In the past three years, Marriott International has expanded its footprint in the region with an average of 40 hotel additions per year. Currently, our portfolio includes 448 hotels spanning 23 brands across more than 110 cities in Greater China.”

    Lee shared that the company will abide by its “Brand + Destination” development strategy, by working closely with owners and franchisees to drive travel demand.

    Marriott International’s hotel expansion will result in new job opportunities.
    Source: https://www.ttgasia.com/2022/03/11/marriott-commits-to-continued-china-expansion/
  14. Posts
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    Say hello to your new dream home, now selling at The Ritz-Carlton Residences Paradise Valley, The Palmeraie. We’re now more than 50% sold and featuring numerous floor plans and specially-curated elevation styles. The custom-built, single-family Estate Homes offer residents the flexibility to personalize their homes to meet their lifestyle and preferences. Pictured here, the elegant, Frank Lloyd Wright-inspired Desert Prairie elevation delicately blurs the boundary between indoor and outdoor living, and is popular amongst discerning buyers with an affinity for timeless architecture that incorporates a myriad of clean lines, colors and textures to create a striking look from every angle.
    Source: https://www.facebook.com/theritzcarltonresidencesparadisevalley/photos/a.439347379787373/1929738717414891
  15. Thread: Encore Boston Harbor

    Post by: CaitlinA
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    Encore Boston Harbor Resort and Casino to Trade in $1.7B Sale Leaseback - Realty Income Corporation has entered into an agreement to purchase the property in a sale-leaseback transaction with Wynn Resorts Limited.

    "Realty Income Corporation has entered into an agreement with Wynn Resorts Limited to purchase Encore Boston Harbor Resort and Casino for $1.7 billion. The property was built for $2.6 billion in 2019. Wynn Resorts is selling the property in a sale-leaseback transaction with an initial lease term of 30 years and annual rent growth of 1.75% for the first ten years. The deal marks Realty Income’s foray into the gaming industry.

    Per the terms of the sale-leaseback agreement, the rent will escalate either 1.75% or CPI, whichever is greater, following the first 10 years of the lease term. The lease includes a 30-year option to renew upon expiration.

    The parties involved expect the deal to generate a 5.9% initial cap rate, and it will generate attractive risk-adjusted returns with immediate earnings accretion. The property also offers an attractive growth model with strong in-place contractual rent growth. Once the transaction is complete, Wynn is expected to represent less than 3.5% of Realty Income’s annualized contractual rent.

    While the hospitality market has been hampered by the pandemic, Boston has a strong gaming market with $2.6 billion of gross gaming revenues annually. Nationally, gaming revenues have fully recovered, and in Massachusetts, the two-year growth rate of gross gaming revenue in Massachusetts was double that of the overall industry at the end of 2021.

    Located along the Mystic River, Encore Boston Harbor Resort and Casino has a 3.1 million-square-foot casino and 671 hotel rooms. It is LEED Platinum-certified with five-star dining, gaming, shopping and entertainment. The property is centrally located with 5.6 million gaming age residents live within a 90-minute drive of the property. Pending regulatory procedures, the sale should close in the fourth quarter of 2022.

    The deal builds on significant hotel transactions in 2021. In April, Bally’s Corp. agreed to acquire Tropicana Las Vegas Hotel and Casino from Gaming and Leisure Properties. The transaction is estimated to value $308 million; and in December MGM Resorts International has entered into an agreement to sell The Mirage Hotel & Casino to Hard Rock International for $1.075 billion. The sales price includes the operating assets of the resort."
    Link to update:
    https://www.globest.com/2022/02/16/encore-boston-harbor-resort-and-casino-to-trade-in-1-7b-sale-leaseback/?slreturn=20220305073245
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