Hotels in the News

That Holiday Inn down the street from your office might have been around for 30 years, but don't assume the entire hotel industry is equally sleepy. Investors and guests alike might be intrigued by these recent developments.

First -- if you haven't heard already -- Hilton Hotels (NYSE: HLT) company just got purchased. The company was sold to private equity firm and recent IPO Blackstone (NYSE: BX) for about $26 billion, including assumed debt. That represents a roughly 40% premium for shareholders over Hilton's pre-buyout stock price.

That news was enough to send shares of other hotel chains up, on speculation that they might also be snapped up by some buyer. Starwood Hotels & Resorts (NYSE: HOT), Choice Hotels (NYSE: CHH), and Marriott (NYSE: MAR) each rose 7% on the Hilton news.

Meanwhile, if you're tired of being pampered at the Four Seasons, take note. Former Starwood CEO Barry Sternlicht, now the head of the unrelated Starwood Capital, announced three new luxury hotel brands:

If you're less fussy about luxury, but would like to snag a Waikiki room for less than $100 per night in season, try the Aqua Palms Hotel, according the folks at hotelchatter.com.

And if you're heading for Vegas instead, and you have a soft spot for Sin City's (relatively) old hotel, the Tropicana, consider stopping by ASAP. The building's days are numbered, as developers plan more extravagant uses for its real estate.