Harrah’s Entertainment buys Planet Hollywood defaulted mortgage. The Waldorf Astoria is ready to open a hotel at Disney
World. United creates a new level of frequent flier.
Harrah’s buys Planet Hollywood debt
Harrah’s Entertainment bought $140 million in debt that’s tied to Planet Hollywood’s Resort and Casino in Las Vegas. This makes Harrah’s a role in the hotel’s fate.
Harrah’s purchase of the debt from Goldman Sachs Mortgage Co., a unit of Goldman Sachs Group Inc., came last week, just a day before the casino defaulted on its $860 million mortgage by failing to make its monthly interest payment, according to people familiar with the matter. The mortgage’s servicer, KeyCorp, sent the casino’s owners a default notice Thursday, these people say.
A special sneak peek at the new Waldorf Astoria
The Waldorf Astoria has opened a hotel at Disney World in Orlando, Fla.
On October 1, 78 years to the day after the opening of its Park Avenue flagship and 38 years to the day after the opening of Disney World’s Magic Kingdom, the 497-room Waldorf opens in Orlando. Times are rough for the Florida tourism industry, and the hunger for business may account for how smoothly construction has apparently gone: We’re three weeks away, and nearly everything is in place. The AC has been cranking all summer, and the pool has had water in it for three months.
Good Deal? United Offers New Perk Packages To Improve Travel
United Airlines is bundling several perks for purchase by those who don’t have elite status.
Premier Travel, which can be purchased online when booking or when checking in, lets you check two bags at no charge, use premium security and boarding lines, get a seat in United’s “Economy Plus’’ coach section with about five inches of extra legroom and earn a 25% mileage bonus. With Premier Travel Plus, you get double miles and access to United’s airport clubs in addition to the other benefits.
(Photo: jimg944/Flickr Creative Commons)
