Seth Rau is a self-described travel junkie. The Ohio native has visited nearly all 50 states and countless countries. Rau says he enjoys exploring new hotels and restaurants, and he frequently writes reviews of them on Yelp and TripAdvisor, both online review sites.
On a recent trip to Argentina, Rau was pleasantly surprised to discover that the boutique hotel where he was staying had given him a 10 percent discount on his bill. The reduction came after the hotel staff had seen that Rau had written a favorable review on TripAdvisor, which specializes in hotel reviews. Continue reading “Unpacking social media in the hotel industry”→
Chicago-based Hyatt Hotels Corp. recognizes that for many business travelers, there are few things distinguishing one hotel chain from another. And company officials want to change that for Hyatt guests.
More than 100 people gathered outside Mayor Rahm Emanuel’s fifth-floor office at City Hall Tuesday for a sit-in to address urban violence, police brutality and the lack of economic opportunity for blacks in Chicago.
The protest follows the announcement Monday that Ferguson police officer Darren Wilson will not face criminal indictment for fatally shooting Michael Brown, an unarmed black 18-year-old.
The fitness industry’s latest craze, CrossFit, advocates high intensity workouts with aerobic, strength and gymnastics training. The fast-growing strength and conditioning program has turned into an international phenomenon — and it’s found an eager audience in the Chicago area.
MGM Resort International’s earnings remained in the red for the third quarter, but the casino operator continues to rebound from a bankruptcy scare in 2009.
Net loss for the third quarter narrowed to $20.3 million, or 4 cents per diluted share, from $22.3 million, or five cents per diluted in the year-ago quarter. Revenue increased one percent to $2.49 billion from $2.46 billion.
Shares of Hyatt Hotels Corp. came under pressure Wednesday, after the Chicago company, pinched by higher costs and slow international growth, released disappointing third quarter earnings.
Net income for the company dropped 42 percent to $32 million, or 21 cents per diluted share, from $55 million in income, or 35 cents per share in the year-earlier period. The lodging corporation reported $1.1 billion in revenue for the quarter ended Sept. 30, up from $1.03 billion a year earlier.
Stock prices surged Wednesday afternoon, after the release of the latest minutes from the Federal Reserve suggested interest rates might remain near zero farther into the future.
The minutes make it clear that the Federal Open Market Committee, which controls interest rates, is increasingly wary that issues abroad could impact the U.S. economy going forward. Disappointing economic conditions in Europe and Asia and the growing strength of the U.S. dollar on the economy were among the biggest concerns for the Fed.
At the September meeting, the FOMC affirmed its March decision to not raise interest rates zero for a “considerable time,” even as the committee noted that the economy is improving at a moderate pace.
The Fed still plans to wind down its bond-buying program, an economic stimulus effort known as Quantitative Easing, by the end of this month. The question investors are focused on is how far into the future the Fed will actually begin raising interest. The tenor of Wednesday’s minutes seemed to indicate that hikes aren’t imminent, despite a recent spate of strong economic reports in the U.S.
That’s because of concerns over softening economies overseas. “Some participants expressed concern that the persistent shortfall of economic growth and inflation in the Euro area could lead to a further appreciation of the dollar and have adverse effects on the U.S. external sector. Several participants added that slower economic growth in China or Japan or unanticipated events in the Middle East or Ukraine might pose a similar risk,” the September minutes said.
Signs of weakness in the U.S. manufacturing economy and concerns about global growth drove the major stock indexes down Wednesday to their lowest levels since mid-August.
The Dow Jones Industrial Average fell 238.19 points, or 1.4 percent, to close at 16804.71. The S&P 500 Index lost 26.13 points, or 1.3 percent, to close at 1946.16. The Nasdaq Composite Index dropped 71.3 points, or 1.6 percent, to close at 4422.09.