Hotels

Blackstone Group in "advanced talks" to buy Bellagio and MGM Grand

Bellagio Hotel
The Bellagio hotel in Las Vegas. Photo: George Rose/Getty Images

The Blackstone Group is in "advanced talks" to buy and lease back the Bellagio and MGM Grand Las Vegas hotels and casinos from MGM Resorts International (NYSE: MGM), per Bloomberg. No financial terms were disclosed, but an earlier Bloomberg report valued the combined properties at around $7 billion.

Why it matters: This would be Blackstone's largest bet on the Vegas strip, where it has a mixed history.

Marriott will replace mini toiletries in its hotels by 2020

Marriott International, the world's largest hotel chain,
Marriott is phasing out miniature plastic toiletry bottles in an effort to be more eco-friendly. Photo: Drew Angerer/Getty Images

Marriott International, the world's largest hotel chain, will replace those little plastic bottles of shampoo, conditioner and bath gel with larger bottles (for its luxury chains), or wall-mounted dispensers (for lower-priced brands), in hotels worldwide by the end of 2020, AP reports.

Why it matters: Marriott, which has more than 7,000 hotels under 30 brands, will eliminate 500 million small bottles a year, or 1.7 million pounds of plastic.