Strategic Hotels and Resorts Inc. recently submitted a report which indicates an increase in the company’s RevPar performance to 12.6 percent for the second quarter of 2011. $39.5 million Net Income The hotel company netted an income of $39.5 million, which is equivalent to $.22 per fully diluted share. Comparable EBITDA had a 13 percent [...]
Flash Player 9 or higher is required to view the chartClick here to download Flash Player nowView the full MHGC chart at Wikinvest Morgans Hotel Group (MHG) recently reported an adjusted EBITDA for the second quarter in 2011 amounting to $11.8 million. The adjustment shows an increase of $3.7 million compared to the previous year. [...]
Flash Player 9 or higher is required to view the chartClick here to download Flash Player nowView the full HOT chart at Wikinvest Starwood Hotels and Resorts Worldwide Inc. recently posted a growth in revenue by 15 percent during the second quarter of 2011. $17 million Gain The hotel company netted a profit of $131 [...]
Flash Player 9 or higher is required to view the chartClick here to download Flash Player nowView the full DRH chart at Wikinvest DiamondRock Hospitality Company recently released a report that indicates RevPar for the second quarter increased 6.4 percent. Increase in Revenue DiamondRock Hospitality netted revenue of $169.5 million compared to $151.1 million from [...]
Integrated Canadian hotelier Northampton Group Inc. (TSX VENTURE:NHG)(TSX VENTURE:NHG.DB) posted its 3rd consecutive double digit sales increase, with an 11.3% growth in the 4th quarter of fiscal year 2011 ending March 31. Prior to that, the hotelier boasted 13.7% increase in sales during the 2nd quarter of the same period. Sales for the 12-month period [...]
Real estate investment trust (REIT) company Summit Hotel Properties Inc. recently released its first quarter report, showing net losses amounting to $7.8 million. The report combines the company’s performance with its predecessor company Summit Hotel Properties LLC for the same period. From February 14 through March 31, 2011, the company experienced a net loss of [...]
Ned Sullivan, chairman of McInerney Holdings, proposed to liquidate the firm through a letter he sent to shareholders. He stated in his letter that “the company has no meaningful assets of worth and no bank facilities”. He firmly believed that liquidation of the company is the best route to take. Sullivan tried to attract investors [...]
The latest report from Jones Lang LaSalle Hotels indicates that hotel transaction activity in Australia reached $445 million during the first half of the year. Along with the sustained strong investor interest in the market, the report confirms that investment levels have gotten back on track to reach the $1 billion projected over the course [...]
Record prices are being paid by investors for hotel properties in the US, and they may be outpacing the potential gains in room rates, as the rate of recovery is dampening a revival in lodging demand. The average price of lodging properties climbed to an estimated $185,000 per room in the first quarter of 2011, [...]
The hotel performance results for North and South America, Middle East and Africa, Asia Pacific and Europe was released by STR Global. North and South America stated an increase with the following: in occupancy from 4.7 to 61.2 percent, average daily rate of 3.3 percent which is equal to US$103.53, and revenue per available room [...]