Las Vegas' Mirage Hotel and Casino to Close
Skift Take
Hard Rock International will cease operations of The Mirage Hotel & Casino to begin transforming the venue into the Hard Rock Hotel & Casino and Guitar Hotel Las Vegas. The new resort will feature a guitar-shaped hotel nearly 700 feet in height.
The DJIA fell 39 points while Nasdaq was down 44, the S&P 500 fell 11 points and the 10-year treasury yield was up 0.02 to 4.38%. Lodging stocks were lower. VCSA traded down to a new low and the only mover of note was SOND, down -6% on the day.
Mizuho raised Hyatt’s price target to $204 from $195. They maintained their Buy rating on the stock.
Evercore ISI Group upped their rating on Park Hotels & Resorts to Outperform from In-Line. They raised their price target on PK to $20 from $19.
In response to yesterday’s coverage on the potential foreclosure of the Waldorf Astoria Washington DC, owner CGI Merchant Group gave us a statement regarding the situation. They said "CGI is engaged in productive discussions with the property's manager, Hilton, and several other parties who want to reach a consensual financing solution that reflects the realities of today’s challe
