Word: hyatt
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...activity are hard pressed to notice any improvements yet. The hotel business has suffered deeply as such corporate giants as IBM and AT&T have slashed their travel budgets to hold down costs. "Our company logo ought to be SURVIVE TILL '95," says Darryl Hartley-Leonard, president of the Hyatt chain. "We cannot assume that this is just the typical business cycle of an American recession. In my 27 years in the business, I've never seen anything like this...
While the health risk is real, so too is the potential for eggsessive overreaction. Even though cooking kills salmonella bacteria, the hard-boiled food industry has fallen in love with the safety and shelf life of pasteurized liquid eggs. Since last fall, Hyatt hotels have dished up fresh eggs only when a guest explicitly requests them sunny-side up. Diners are not told of this shell game, for as a Hyatt spokeswoman insists, "to the average person's taste, I don't think you'd notice." Liquid eggs have become the norm at fast- food chains (Burger King...
American Express never really wanted a 282-ft. yacht. Bankers Trust isn't sure what it will do with the Grand Hyatt in midtown Manhattan, especially in the middle of a recession, nor is Manufacturers Hanover exactly giddy about owning the Regency Hotel in Atlantic City. But then Citicorp is not exactly cut out to be a retailer or an airline operator, either...
That's one way of describing what has befallen him. While he will give up his beloved Trump Princess yacht, the Trump Shuttle, the Regency, his half- interest in the Hyatt and his 27% interest in the Alexander's store chain, he will retain the Manhattan trophies he values most: the Plaza Hotel, Fifth Avenue's Trump Tower and a valuable tract of undeveloped Hudson River waterfront. He'll also keep his lavish Mar-a-Lago estate in Palm Beach, Fla., which features a 118-room mansion and a nine-hole golf course...
...than a year to meet his interest payments. His bankers bailed him out last summer, realizing with a chill how badly they had been taken and how thoroughly mired they were in the mess. He was carrying a $300 million mortgage on the Plaza, $120 million on the Grand Hyatt, $75 million on Trump Tower. In December his father Fred, a builder in Queens, N.Y., had to lend him $3.5 million to pay his bills. Appropriately enough, Fred did so by purchasing that amount in gambling chips from one of his son's casinos. Even as Trump's fortunes continued...