Author: Kristen A. Lee
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Extended Stay Hotels LLC files for Chapter 11
NEW YORK • Extended Stay Hotels LLC filed for Chapter 11 bankruptcy protection on Monday, citing massive debt stemming from its 2007 acquisition by the Lightstone Group and a sharp drop in business travel due to the recession. The Spartanburg, S.C.-based company’s brands include Extended Stay Deluxe, Extended Stay America Efficiency Studios, Homestead Studio Suites,…
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Amazon says 2008 holiday season was ‘best ever’
SEATTLE • Online retailer Amazon.com Inc. called this holiday season its “best ever,” saying Friday that it saw a 17 percent increase in orders on its busiest day – a rare piece of good news in a season that has been far from merry for most retailers, including online businesses. Amazon customers ordered more than…
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Travel pinched by global financial crisis
The tourists chatting in multiple languages in the piazzas, bars and shops of Rome belie a more somber mood at the ancient city’s hotels. Luigi Rinaldi, concierge of the Hotel de la Minerve next to the Pantheon, said American tourists have disappeared, although demand among German, Spanish and Russian tourists is solid. The hotel is…