Word: hyatt
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Sept. 23 was a hazy day in Hong Kong. It's unlikely that Sarah Palin could have gazed across the city's harbor, past the mountains of the New Territories, and spied mainland China in the distance. Secluded inside the Grand Hyatt hotel, behind a tight cordon of security and a sea of hobnobbing fund managers, she may not even have seen much of Hong Kong itself...
...local Cantonese media - or most Hong Kongers, in general - seemed to care. Few representatives from Hong Kong's tabloid-driven press stood in the forlorn journalist pen outside the hotel. Shown a picture of Palin, a woman surnamed Ng, who operated a food stand near the Grand Hyatt, professed to not know who she was. "If she is rich and famous, then maybe she goes shopping nearby," said Ng from behind her counter. "Afterward, she can come eat my fishballs...
...company plans to launch another, Casino Oceanus, by the end of the year. In June, Ho's son Lawrence, CEO of NASDAQ-listed Melco Crown Entertainment, opened a mega-resort called City of Dreams, with a 520-table casino and a Hard Rock Hotel. An 800-room Grand Hyatt opens at the resort later this month. Wynn is also finishing a $650 million expansion of his Wynn Macau. Called the Encore, the addition, expected to open in April, 2010, includes 400 luxury suites, an expanded casino and more restaurants...
Still, the offering could be a potential windfall for long-term investors looking to get into a stellar name on the cheap. Hyatt's highly regarded brand, solid balance sheet and savvy management team make it an attractive long-term play, industry experts say. It all comes down to price, says Arabia. "We're anticipating from 2010 through 2015 to see very significant growth in earnings [from major lodging companies...
Mandigo says there are merchant bankers, insurance companies and pension funds looking for places to park their cash that might view Hyatt as a smart investment. "This is something that's fresh, has a strong name behind it, and a good reputation in the industry," he says. "It's kind of like an oasis in the desert in terms of investment opportunity...