Apollo Global Management is shelling out $703 million for Great Wolf Resorts, the leading operator of indoor water park resorts. The $5-a-share offer is better than the stock has seen since 2008, but people who bought it around its 2004 IPO will end up taking a real bath.
There's no doubt about the Super Bowl's importance in sports, but will it really be a touchdown for Dallas's economy? While one study pegs the economic impact at $611 million, the number seems dubious -- especially considering it's still unclear who will be playing.
Hospitality analysts say this season's year-end celebrations are more numerous and a bit more lavish than the past several years. Champagne is replacing sparkling wine, and better food is getting served. Signs, they say, of an economy on the mend.
As travel picks up, Marriott International posted a third-quarter profit of $83 million, up from a loss of $466 million in the year-ago quarter. But shares are down after the company forecast that fourth-quarter earnings might be less than analysts expect.