Word: sheraton
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Part of the industry's current problem is an oversupply of rooms. Sheraton, for example, is opening up 54 hotels this year, at a rate of one every three weeks, financed in the days when the economy was roaring and money was cheap. As the room glut deepens, hotel builders are slamming on the brakes - there is a 75% increase in projects being stopped. But demand is falling quickly too. "There's [been] nothing like this in history, in terms of falling demand" says Bjorn Hanson an industry analyst with New York University's hotel school. With the strengthening dollar...
...Steve Sheraton, the magician behind Las Vegas-based Hottrix, a magic and special-effects shop that developed another (apparent) 2008 top seller, iBeer, said dropping the price on his app may have been a mistake. "I'm not selling more at $0.99 than I was at $2.99," he said of the entertaining little app that simulates a glass of beer: put the phone to your lips, tip it and you can "swallow" the beer. He dropped the price as part of a presidential sale on Election Day but said he'll raise it again soon to test his theory. Sheraton...
Indeed, iBeer's creator, Sheraton, said he's seen it all before, on the old Palm Pilot platform. His first app was E-spresso, in 1999, which created a virtual cup of espresso on the Palm, the first great PDA. "Having lived through the Palm apps market, I was able to predict what would happen here as well," he said. "There are way too many apps, and the prices will drop through the bottom...
...raiser. "Mark my words: it will not be six months before the world tests Barack Obama like they did John Kennedy," Biden told the $1,000-a-ticket Democratic donors, who no doubt were startled to discover that the Fifth Horseman of the Apocalypse had ridden into the downtown Sheraton. "Remember, I said it standing here, if you don't remember anything else I said. Watch - we're going to have an international crisis, a generated crisis, to test the mettle of this guy." A bemused Obama responded, "I think that Joe sometimes engages in rhetorical flourishes." In a matter...
Openings. Doubletree opens in Milan...St. Regis Houston completes a refurbishment and updating of all 232 rooms and suites...W Scottsdale Hotel & Residence opens with 224 rooms...Sheraton opens in the Northbrook, Ill., near O'Hare Airport...