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News Breaks
March 20, 2014
07:12 EDTHLT, MAREconomic Club of Washington, D.C. holds a breakfast meeting
President & CEO Nassetta of Hilton Worldwide and President & CEO Sorenson of Marriott International speak at the breakfast meeting being held in Washington, D.C. on March 20 at 8 am.
News For MAR;HLT From The Last 14 Days
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February 26, 2015
08:20 EDTMARAshford Hospitality completes acquisition of Marriott Memphis East for $43.5M
Ashford Hospitality (AHT) has completed the previously-announced acquisition of the 232-room Marriott (MAR) Memphis East hotel for total consideration of $43.5M in cash, or $187,500 per key. The company intends to finance the property with approximately $33.3M of non-recourse mortgage debt. On a forward 12-month basis, the purchase price represents an estimated cap rate of 8.6% on net operating income and an estimated 10.3x forward EBITDA multiple. The Marriott Memphis East is in excellent physical condition with virtually no capex needs as the hotel recently completed an extensive renovation.
February 25, 2015
13:42 EDTMARMarriott price target raised to $96 from $86 at Argus
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February 20, 2015
15:12 EDTHLTHilton management to meet with JPMorgan
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February 19, 2015
13:02 EDTMARMarriott files automatic mixed securities shelf
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10:31 EDTMARMarriott sells Miami Beach EDITION for $230M in cash proceeds
Marriott announced it has sold The Miami Beach EDITION hotel for cash proceeds of $230M. The sale is the second in a series of three anticipated sales of Marriott-owned EDITION hotels to companies ultimately owned by the Abu Dhabi Investment Authority. The agreement with ADIA for the sale of these three EDITION hotels was announced when the first, The London EDITION, was sold to ADIA in January 2014. Marriott expects to sell the third, The New York EDITION to ADIA in the first quarter of 2015. Marriott noted that it retains the long-term management agreement for the hotel.
10:27 EDTMARMarriott says 'bullish' about demand trends in North America
Says "very optimistic" about long-term. Sees Q1 group revenue pace for company operated full service hotels up 6%, FY group pace up 5%. Sees special corporate room rates from continuing accounts up 5%-6% in 2015. Says "bullish" about demand trends in North America. Says strong dollar may discourage international travel, but doesn't see this as significant headwind to North America operations. Says Brazil trends likely to remain weak, but "bullish" about long-term growth potential. Sees FY15 fee revenue up 9%-11%, incentive fees up in a low double digit rate. Expects fee revenue to be constrained by unfavorable forex. Sees total fee revenue reduced by forex by $15M-$20M in FY15. Sees cash returned to shareholders in 2015 at least as much as 2014. Sees Q1 fee revenue up at mid teens rate. Comments made on the Q4 earnings conference call.
09:12 EDTMAROn The Fly: Pre-market Movers
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February 18, 2015
18:55 EDTMAROn The Fly: After Hours Movers
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16:36 EDTMARMarriott sees FY15 EPS $3.00-$3.12, consensus $3.03
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16:34 EDTMARMarriott sees Q1 EPS 68c-72c, consensus 66c
For Q1, the company expects comparable systemwide RevPAR on a constant dollar basis will increase 5 to 7% in North America, 4 to 6% outside North America and 5 to 7% worldwide.
16:33 EDTMARMarriott reports Q4 EPS 68c, consensus 65c
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15:35 EDTMARNotable companies reporting after market close
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09:10 EDTMARMarriott volatility increases into Q4 results and outlook
Marriott overall option implied volatility of 25 is near its 26-week average of 23 according to Track Data, suggesting non-directional price movement into the expected release of Q4 on February 19.
06:07 EDTHLTHilton sees FY15 adjusted EPS 78c-83c, consensus 85c
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06:05 EDTHLTHilton sees Q1 adjusted EPS 10c-12c, consensus 15c
Sees Q1 system-wide RevPAR to increase 5%-7%; Sees Q1 adjusted EBITDA $555M-$575M; Sees Q1 management and franchise fees expected to increase 11%-13%.
06:05 EDTHLTHilton reports Q4 system-wide comparable RevPAR up 6.6%
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06:04 EDTHLTHilton reports Q4 adjusted EBITDA up 11% to $668M
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06:04 EDTHLTHilton reports Q4 adjusted EPS 17c, consensus 18c
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February 17, 2015
15:32 EDTHLTNotable companies reporting before tomorrow's open
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14:51 EDTHLTHilton volatility elevated into Q4 and outlook
Hilton February call option implied volatility is at 50, March is at 28, June is at 25; compared to its 26-week average of 26 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on February 18.

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