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WASHINGTON— U.S. retail sales in March rose by the largest amount in 18 months, led by strong gains in sales of autos, furniture and a number of other products. The 1.1 percent jump reported by the Commerce Department on Monday was the best showing since September 2012. WASHINGTON— The calendar shows April 15, and you haven't even started on your federal tax return?
Travelers are spending more money on a quest for something authentic. "It's almost like there's no wild places anymore," said one industry spokesman.
Auto financing company Ally Financial and hotel operator La Quinta Holdings had lukewarm receptions for their IPOs last week. La Quinta priced its shares at $17 each, lower than its expected range of $18 to $21, which suggested less demand. Ally, the largest IPO this year, priced its shares at $25 each, the bottom of its expected range of $25 to $28.
The peer-to-peer home rental company hopes to start collecting New York hotel taxes by July 1.
The most recent outbreak occurred on the Royal Caribbean International vessel, which left Baltimore on April 5 for a seven-day cruise to the Bahamas, Royal Caribbean spokeswoman Cynthia Martinez said in an email Friday. The CDC said more than 100 passengers and crew members got sick on the Grandeur's last cruise from Baltimore from March 28 to April 5.
Plans were revealed for Hilton Hotels' long-awaited Waldorf Astoria in Beverly Hills, Calif., which will be opened in 2017.
April 10- Shares of auto-lender Ally Financial Inc fell as much as 3 percent in their market debut on Thursday, taking the shine off the biggest U.S. Treasury, which sold 95 million shares at $25 each, the low end of the expected price range of $25- $28.
SAN FRANCISCO— In a story April 8 about illnesses aboard a Princess cruise ship sailing to ports in California, The Associated Press reported erroneously the final destination of the cruise. The cruise ends in Los Angeles, not Santa Barbara.
A 5-star hotel will be built in a Ferrari theme park along with rides including the highest and fastest vertical accelerator in Europe.
NEW YORK— Hotels advertise "bleisure" packages. The Thai Tourism Authority is promoting "honeyteering." But they do "come in handy in a business sector where there's often a need to come up with clever marketing spin," said Ben Zimmer, executive producer of Vocabulary.com and language columnist for The Wall Street Journal. "
*Shares open at $16.75, below IPO price of $17. La Quinta's shares, which priced below the expected range at $17, fell as much as 4 percent in early trading before recovering their losses to trade slightly up.
IRVING, Texas— Hotel operator La Quinta Holdings Inc. has raised approximately $651 million from an initial public offering of its common stock. La Quinta is giving the underwriters a 30- day option to buy up to an additional 5.7 million shares.
April 8- The initial public offering of La Quinta Holdings, owned by the Blackstone Group, was priced at $17 per share on Tuesday, valuing the hotel chain at about $2.1 billion. La Quinta's IPO raised $650 million, after its offering of 38.25 million shares was priced below an expected range of $18 to $21 a share.
April 8- Blackstone Group LP- owned La Quinta Holdings Inc's initial public offering priced at $17 per share, according to Bloomberg, valuing the hotel chain at about $2.1 billion. La Quinta's IPO raised $650 million, after its offering of 38.25 million shares priced below an expected range of $18 to $21 a share, Bloomberg reported.
SAN FRANCISCO— Officials say more than three dozen people are possibly ill with the highly contagious Norovirus while onboard a cruise ship sailing to ports in California. Princess Cruises spokeswoman Karen Candy says about 37 passengers on the Crown Princess reported being sick while the ship was in San Francisco on Monday.
After more than 100,000 flights were canceled this winter, business travelers are returning to the road.
WASHINGTON, April 7- A U.S. court ruled on Monday that the Federal Trade Commission can proceed with a lawsuit against hotel group Wyndham Worldwide Corp for allegedly failing to safeguard consumers' personal information.
WASHINGTON, April 7- A U.S. court ruled on Monday that the Federal Trade Commission can proceed with a lawsuit against the hotel group Wyndham Worldwide Corp for allegedly failing to safeguard consumers' personal information.
MIAMI— Royal Caribbean is promoting Adam Goldstein to president and chief operating officer of the cruise operator, effective immediately. Goldstein joined Royal Caribbean Cruises Ltd. in 1988. For the last 12 years he has served as president and CEO of the Miami company's largest cruise line, Royal Caribbean International.
DUBAI, United Arab Emirates— A Dubai government conglomerate behind some of the emirate's industrial powerhouses said Thursday it bought a "significant" stake in the international hotel operator that runs the Atlantis hotel on the city's main palm-shaped island.