Wyndham Worldwide Corporation recently reported that its profit in the second quarter increased to 20 percent. Increase in Net Income Wyndham netted income of US$114 million from last year’s $95 million. With regards to a per share basis, the company’s earnings grew 31 percent which is equivalent to $0.67, a far cry from $0.51 in [...]
Despite higher room rates, hotel guests are showing more satisfaction with costs and fees, according to the J.D. Power and Associates 2011 North America Hotel Guest Satisfaction Index. In contrast, guests were much less satisfied with the quality of service and other product-related aspects, even as occupancy rates continue to go up. The study has [...]
Interstate Hotels & Resorts, the largest independent hotel management company in the US, has announced that Julie A. Pangelinan has been appointed as the company’s new Chief Financial Officer. Her new duties and responsibilities will include oversight of the company’s accounting, treasury, tax, and budgeting functions, as well as financial analysis and reporting. Work Credentials [...]
Sure, hotel group discounts sold online are always enticing. Holiday backpackers often grab a bunch of these offers and are often on the lookout for flash sales online. The hotel industries of both North America and Europe benefit from this scheme, particularly with the sudden boom of the so called Groupon. However, things don’t go [...]
After three years of overhauling the brand, Sheraton Hotels & Resorts is now trumpeting its stronger iconic status with a whopping $20-million advertising campaign with the tagline “Meet You There”. The campaign is in collaboration with global interactive agency Razorfish, and integrated marketing and advertising agency Kaplan Thaler Group. Both are subsidiaries of French multinational ad [...]
Known to lovers as Canada’s honeymoon city, Niagara Falls has claimed a top spot to level itself with the rest of Canada’s key travel destinations. Apart from the iconic and vast waterfalls, the American and the Horseshoe, Niagara Falls is now heading towards the limelight to be the perfect set for trade shows, conferences, and [...]
June 22, 2011 Major hotel developer and operator Urgo Hotels announced its acquisition of two landmark hotels, the Blue Moon Hotel and Winterhaven Hotel, for $26.7 million. The acquisition was completed in a joint venture with Washington, DC-based global alternative asset manager, The Carlyle Group. Both hotels are strategically located right at the center of [...]
Radisson Lexington Hotel New York has entered into a contractual purchase and sale agreement with DiamondRock Hospitality Company last May 17. DiamondRock Company purchased the 712-room New York hotel for an amount of $335 million. The contractual price represents a 13.5x multiple of the hotel’s 2012 EBITDA of $24.8 million, and a 6.7% capitalization rate [...]
Leading hotel industry forecaster STR Global reported that the US showed strong results after this year’s Easter. Data showed increases in three key performance metrics: occupancy, average daily rate and revenue per available room during the week ending May 7, 2011. In year-to-year comparisons, occupancy rose 6.0 percent to 60.3 percent, average daily rate increased [...]
Flash Player 9 or higher is required to view the chartClick here to download Flash Player nowView the full SVLF chart at Wikinvest Texas-based timeshare operator Silverleaf Resorts Inc. recently announced that its stockholders approved the merger with Resort Merger Sub Inc., an affiliate of Cerberus Capital Management LP. Approximately 75.9% of Silverleaf’s shareholders approved [...]