International Airlines Group, formed by the merger of British Airways and Iberia, is still interested in buying its smaller rival bmi from German carrier Lufthansa to take advantage of its valuable take off and landing slots at London's Heathrow airport.

CuisinArt Resort & Spa owner Leandro P. Rizzuto signed an agreement Sept. 6 with the bank and receiver for the purchase of foreclosed Temenos, a luxury development project composed of beachfront estate homes, luxury villas and $50 million Greg Norman designed 18-hole golf course and a hotel.

Brazil Hospitality Group announces the acquisition and administration of 5 new hotels in Belem, totaling 7 properties in the state capital of Para.

Royal Caribbean Cruises Ltd. (RCCL) said it has been informed that its two largest shareholders, Cruise Associates and A Wilhelmsen AS, have terminated the agreement that exists between them. RCCL said it is not a party to the agreement and the move will have no material effect on its operations.

Travelocity has cut its work force and closed offices in San Francisco and New York to consolidate its team under one roof in Dallas. Some customer and partner-facing employees will remain in those cities and will become home-based. Travelocity said it made these changes in its organizational structure to drive speed and efficiency.

Chilean airline LAN's takeover of Brazil's TAM could be completed by the end of this year, chief operating officer Ignacio Cueto said. Decisions by two other anti-trust authorities are still pending.