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Atlantic City’s Revel to Close in September

Atlantic City’s Revel to Close in September

After failing to find a buyer in bankruptcy court, Revel Casino Hotel in Atlantic City will close its doors Sept. 10, according to a report from the Associated Press. The property, which cost $2.4 billion to build, opened in April ...

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Taj Group Managing Director Resigns

Taj Group Managing Director Resigns

Raymond Bickson will step down as managing director and chief executive officer of the Indian Hotels Company Limited (the Taj Group of Hotels), effective Aug. 31. He has spent the last 11 years in a leadership position with the hotel company. ...

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Travel Exports Outpace Overall Export Growth

Travel Exports Outpace Overall Export Growth

A new U.S. Department of Commerce report shows that total June exports of $195.9 billion and imports of $237.4 billion resulted in a goods and services deficit of $41.5 billion, down from $44.7 billion in May. In reaction to the ...

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Hedge Fund Pushes IHG to Pursue Merger

Hedge Fund Pushes IHG to Pursue Merger

The hedge fund Marcato Capital Management has retained investment bank Houlihan Lokey as a financial advisor, as it seeks to convince InterContinental Hotels Group to sell itself. The $3 billion San Francisco-based hedge fund owns a nearly 4 percent stake ...

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