It was, indeed, a happy first quarter of 2011 for Sol Meliá. The Spanish hotel chain raked in €4.6 million (6.5 million U.S. dollars) for Q1 2011, a €1 million (US$1.4 million) jump from the prior year period. Earnings before interest, taxes, depreciation and amortization or EBITDA also grew from €40.6 million ($58 million) to [...]
Baha Mar resort in the Nassau will be the newest tourist destination in 2014, thanks to China’s Export-Import Bank and China State Construction and Engineering. The project is being financed by the Export-Import Bank with a 20-year US$2.4 billion loan. China’s largest contractor is investing an additional $150 million for the Baha Mar project. According [...]
Resort Finance America, LLC, recently announced plans to expand its existing relationship with Grand Pacific Resorts of Carlsbad, California. The increased financial commitment is indicative of RFA’s confidence in GP’s leadership and strategies, as well as the MarBrisa Project’s relationship with Hilton Grand Vacations, which had taken responsibility for the operations, management and finances of [...]
Wyndham Worldwide has recently announced its earnings for the first three months of 2011. Highlights include adjusted diluted earnings per share at $0.44, compared to the $0.34 performance from the same period in 2010. Free cash flow had also increased to $185 million, an increase over the same period’s earnings in the previous year. Wyndham [...]
Marriott International, Inc. reported its results for the first quarter 2011, exceeding the company’s performance in the prior year. Among the highlights include diluted earnings per share (EPS) at $0.26, showing an 18% increase over results from the same period in 2010 and an increase of 9% in total fee revenue from the year-ago quarter [...]
Bluegreen Corporation, one of the leading providers of Colorful Places to Live and Play, has announced its financial results for the final quarter of 2010, as well as the overall report for the year. “We are pleased with Bluegreen’s progress in 2010. During 2010, we continued to focus on the development of our fee-based services [...]
Republic Business Credit has successfully closed a $30 million senior secured facility with Wells Fargo Capital Finance, which is part of Wells Fargo & Company in New Orleans, LA. Together with the institutional capital raise, this has strengthened Republic’s capital and liquidity position. Republic Business Credit can now finance small business and companies in the [...]
Wyndham Worldwide Corporation has recently announced the public offering price of $250 million aggregate principal amount of its senior unsecured notes due March of 2021. The offer is expected to close on March 1, 2011. Wyndham intends to use the proceeds from the offering to reduce its outstanding debts, including a previously announced tender offer [...]
The Hyatt has recently reported its earnings from the fourth quarter of 2010. The adjusted EBITDA was $118 million, in comparison to the $104 million that was earned in the final quarter of 2009, a year-over-year rise of 13.5%. The net income attributable to the Hyatt was $6 million, an estimated $0.03 per share, compared [...]
Finance and service company Wellington Financial is pleased to announce that Liberty Bank has recently closed a two-loan commitment with Florida-based timeshare developer, Kosmas Group International Inc. According to Wellington Financial Senior VP Shawn Brydge, the bank will be providing financial assistance for four of KGI’s Florida properties including Coconut Palms II in New Smyrna [...]