Hyatt heir running for Illinois governor: J.B. Pritzker, billionaire investor and son of Hyatt co-founder Donald Pritzker, has announced plans to run for governor of Illinois, according to a report from Reuters. He is one of several candidates seeking the Democratic nomination with hopes of eventually unseating Republican Bruce Rauner.
Like Hyatt Hotels Corporation, a company his family is still heavily invested in, J.B. Pritzker is based in Chicago. He told reporters following his announcement that he’d like to see the state dig itself out of its fiscal difficulties “by taxing the millionaires and billionaires first.”
Members the Pritzker family are no strangers to the political stage. J.B. Pritzker, 52, ran for U.S. Congress in 1998 and was a national co-chairman of Hillary Clinton’s presidential campaign in 2008. His sister Penny Pritzker served as U.S. Secretary of Commerce under President Barack Obama.
Hotel membership fees boost in-house spending: A significant number of hotels have adopted fee-based membership programs to drive revenue, increase on-property spending and gain local exposure from nearby residents eager to use a property’s spas, fitness centers and other facilities, sources told HNN contributor Harvey Chipkin.
Hoteliers said such schemes create a country-club atmosphere at their properties that appeals to locals, although it’s necessary to always maintain a balance between that increased footfall and resident guests.
ADR might rise after UK Supreme Court decision: Hotel rates during U.K. school holidays might rise, simply due to demand and supply, following a Supreme Court decision that school districts have the right to fine parents who take children out of school during term times.
Jon Platt, a father who brought the case against his daughter’s primary school, had won a previous legal battle on the issue. But the Supreme Court, the U.K.’s top court, ruled that “regular attendance” is subordinated by a parent’s decision to take a child out of school. According to the BBC, almost 15,000 parents were found guilty in 2015 of taking their children out of school, mostly to take advantage of cheaper hotel and vacation rates. One source in the BBC article said the decision could spur a 50% difference in price of vacations and hotel stays during holidays.
Hard Rock completes Atlantic City deal: The ink is dry on Hard Rock International’s deal to convert the former Trump Taj Mahal, which closed last October, into the Hard Rock Hotel & Casino Atlantic City, according to the company.
Hard Rock announced more details of the $375 million renovation of the asset, which will open in summer 2018. In the plans are two arenas that will have a combined 7,000 seats. A press release from Hard Rock in the beginning of March said $300 million would be invested into the property.
HNA Group eyes London expo center: HNA Group, which owns Carlson Hotels Group and has large ownership stakes in both NH Hotels and Carlson Rezidor Group, is, according to Bloomberg sources, in talks to acquire London’s Olympia exhibition center, a major driver of local hotels.
According to the news report, two other companies, London-based Yoo Capital and an undisclosed German concern, are in the hunt to purchase the asset from current owners Capital & Countries Properties. Initially, CCP put the asset on sale in 2015, but the sale was postponed until after the U.K.’s Brexit referendum.
Compiled by Terence Baker.