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Stock Market & Financial Investment News

News Breaks
February 14, 2014
10:48 EDTCHH, IHG, WYN, HOT, MAR, HLT, HHotels rise after Hyatt results beat expectations
The shares of a number of hotel chains are climbing after one of the companies in the sector, Hyatt Hotels (H), reported significantly stronger than expected results. WHAT'S NEW: Hyatt's fourth quarter earnings per share, excluding some items, came in at 32c, versus analysts' consensus estimate of 20c. The company's revenue was slightly higher than expected. Its revenue per available room, or RevPAR, rose 6.2% versus the fourth quarter of 2012. "Looking ahead, we expect healthy occupancy levels in the U.S. to support increasing strength in room prices," said Hyatt CEO Mark Hoplamazian in a statement. WHAT'S NOTABLE: UBS upgraded Starwood (HOT) to Buy from Neutral in a note to investors earlier today, after the stock fell yesterday in response to the company's decision not to buy back any shares last quarter. The firm expects the company to be able to buy back shares going forward and it predicts that strength in North America, asset sales, and RevPAR gains in China will drive the stock higher. PRICE ACTION: In mid-morning trading, Hyatt jumped 5.6% to $52.35, Starwood advanced 2.6% to $77.34, InterContinental Hotels Group (IHG) advanced 1.6% to $33.50, and Marriott (MAR) gained 1% to $50.65. OTHERS TO WATCH: Other publicly traded companies in the space include Choice Hotels (CHH), Hilton Worldwide (HLT), and Wyndham (WYN).
News For H;HOT;IHG;HLT;WYN;CHH;MAR From The Last 14 Days
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October 12, 2015
08:08 EDTHOTSheraton announces strategic conversion of resort in Panama City Beach, Florida
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07:01 EDTHOTStarwood announces entry in Chuzhou, china with Sheraton opening
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October 8, 2015
08:07 EDTHLTHilton expands charging stations program for EVs
Hilton Worldwide (HLT) announced a major electric vehicle charging program, which will be available at 50 U.S. hotels by the end of this year with plans to rapidly expand to 100 U.S. hotels by the end of 2016. The program will cover all types of electric vehicles, including Teslas (TSLA). Current, powered by GE (GE), will provide stations to charge other car makes.
October 6, 2015
16:30 EDTMARMarriott plans to open 60 new hotels in Caribbean, Latin America by 2018
Tim Sheldon, President of Caribbean and Latin America operations at Marriott International, announced an expected 75% increase in Marriott's Caribbean and Latin American distribution between 2015 and 2018 including a tripling of the company's presence in Brazil with the addition of 11 new hotels in that market. Marriott has 93 hotels open and more than 60 hotels under development in the Caribbean and Latin America, including 11 new hotels across 6 cities in Brazil. Marriott has plans to invest approximately $400M Brazilian Reais (U.S. $100M) in Brazil to launch 4 of its modern essential brands: Courtyard by Marriott, Residence Inn by Marriott and Fairfield Inn by Marriott and AC by Marriott. Seven of these eleven planned hotels are already under construction, which will be owned by Marriott or Brazilian partners. Over time, Marriott expects to sell its owned hotel assets, retaining long term management agreements. Year to date, the company has opened 8 hotels in the Caribbean and Latin America, with another nine expected by year end.
October 5, 2015
11:06 EDTMARMarriott announces partnership with INJAZ AL-Arab
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September 30, 2015
09:08 EDTHOT, WYNWyndham appoints Chip Ohlsson as Chief Development Officer
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08:34 EDTHOTStratus Properties completes purchase of Block 21 JV
Stratus Properties (STRS) announced that on September 28, 2015, Stratus completed its previously announced acquisition of Canyon-Johnson Urban Fund II, L.P.'s approximate 58% joint venture interest in CJUF II Stratus Block 21 LLC, which owns a 36-story mixed-use development in downtown Austin, Texas, anchored by the W Austin Hotel & Residences (HOT), for approximately $62M. Stratus funded its acquisition of Canyon-Johnson's interest in Block 21 with approximately $32.3M of proceeds from its non-recourse term loan with Bank of America (BAC), a $20M term loan under Stratus' credit facility with Comerica Bank (CMA), and approximately $9.7M in cash. The Sale and Purchase Agreement contains customary representations and warranties, and the parties have agreed to indemnify each other in connection with the breach of such representations and warranties. Block 21 is now a wholly-owned subsidiary of Stratus. As of September 28, 2015, in addition to its real estate assets, Block 21 had cash and cash equivalents of approximately $22.8M.

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