Hotel News Resource - Riviera Hotel Industry News

Having recently teamed on Hard Rock Hotel & Casino Punta Cana, Hard Rock International today announced an agreement with Palace Resorts LLC to transform Palace Resorts properties in Cancun, Puerto Vallarta and Riviera Maya into Hard Rock Hotels.

The mid market property featuring 198 rooms will welcome the first guests in 2013 – just in time for the 2014 Winter Olympics in Sochi.

Net revenues for the first quarter of 2009 were $34.7 million, a decrease of $13.3 million, or 28 percent, from $48.0 million for the comparable period in the prior year.

For the three months ended March 31, 2008, the Company's net revenue was $48.0 million, a decrease of $4.0 million, or 8 percent from the first quarter of 2007. Decreases in gaming, rooms and food and beverage revenues were partially offset by increases in entertainment and other revenues.

Riviera Holdings Corporation (AMEX:RIV) announced today the appointment of Mark Lefever as its Executive Vice President, Chief Financial Officer and Treasurer. Lefever, 41, fills positions vacated by Duane Krohn, who retired in early May.

Net revenues for the quarter were $53.3 million, up $463,000 or 0.9 percent from the second quarter of 2004.