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Vegas Slowdown, Luxury Power Plays and a Biz Travel Shake-Up
Description
MGM Resorts reported a 4% drop in Las Vegas Strip revenue for Q2, reflecting a broader decline in mid-market visitor traffic, while high-end demand remains strong. LVMH has gained an option to fully acquire the Orient Express brand by 2027 and has also invested in its upcoming luxury yacht project, signaling further expansion in ultra-luxury travel. Meanwhile, the U.S. Department of Justice has dropped its antitrust lawsuit against the Amex GBT-CWT merger, clearing the way for a dominant player in corporate travel to form later this year.
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