MARKET PULSE
Xenia Hotels & Resorts Inc. (xhr) offered an update of its business Wednesday during the pandemic, while also announcing new amendments to some of its borrowing and unveiling a $150 million five-year bond deal. The Orlando, Fla.-based REIT said 37 of its 38 hotels and resorts are open, after being closed during the pandemic, and it is continuing to review the timing of reopening its Hyatt Regency Portland
The more you stay, the less you pay—rates at Divi Resorts Caribbean destinations start as low as $117 per night (room only) and $152 per person, per night (all-inclusive).
CHAPEL HILL, N.C. (PRWEB) October 12, 2020
Fall is finally here and Divi Resorts is looking ahead with spooktacular savings of up to 45% off all-inclusive and room only stays for 2020 and 2021 travel. For a limited time from October
The New York Times has released a report, the fourth in its series, based on President Donald Trump’s federal tax returns, illustrating how the paper says the president turned “his own hotels and resorts into the Beltway’s new back rooms, where public and private business mix and special interests reign.”
Trump attended 34 political fundraisers at his hotels and resorts that brought in $3 million in revenue, the Times reported.
ATLANTA, Oct. 8, 2020 /PRNewswire/ — Leading hospitality management company Davidson Hotels & Resorts announces the addition of The Higgins Hotel & Conference Center to its growing portfolio. Operated by Davidson’s lifestyle and luxury division Pivot Hotels & Resorts, the 230-room, Art Deco-inspired boutique hotel is part of Curio Collection by Hilton. Located in New Orleans’ Arts and Warehouse District adjacent to The National WWII Museum, the property was
TYSONS, Va.–(BUSINESS WIRE)–Park Hotels & Resorts Inc. (NYSE: PK) (“Park”) today announced that it plans to report financial results for the third quarter 2020 after the stock market closes on Thursday, November 5, 2020. Park will hold a conference call on Friday, November 6, 2020 at 11:00 a.m. Eastern Time (ET) to discuss its earnings results and current operational environment.
The conference call will be accessible by telephone
As we navigate our new, socially distant normal, sometimes a no-passport-required staycation is just the refresher needed. And where better than Florida, where sugary white sands, golf courses, theme parks, and beachfront resorts reign supreme. And as the state continues to lift restrictions, a new survey from WalletHub finds that some Florida cities are among the best for an in state vacation.
Related: Florida cities rank high in best cities
Shares of hotel operator Park Hotels & Resorts (NYSE:PK) jumped nearly 15% in August, according to data from S&P Global Market Intelligence. Following close behind was experiential-focused landlord EPR Properties (NYSE:EPR) and its gain of nearly 13%. However, on the other side of the ledger was mall real estate investment trust (REIT) Tanger Factory Outlet Centers (NYSE:SKT), which fell roughly 12% in the month.
All three stocks
Park Hotels and Resorts (NYSE:PK) saw its stock price jump almost 9% on Monday after the hotel real estate investment trust (REIT) issued a business update that showed some positive momentum. The REIT, which owns 60 hotels, reported that 46, or 77% of its hotels, are now open along with 59% of its rooms.
For the company’s 37 hotels that were open for all of August, the occupancy rate was
ORLANDO, Fla., Oct. 1, 2020 /PRNewswire/ — Xenia Hotels & Resorts, Inc. (NYSE: XHR) (“Xenia” or the “Company”) today announced it has sold the 221-room Residence Inn Boston Cambridge in Cambridge, Massachusetts for a price of $107.5 million, or approximately $486,500 per key. The sale price represents a 11.6x multiple and a 7.8% capitalization rate on the hotel’s 2019 Hotel EBITDA and net operating income, respectively. In connection
ATLANTA, Oct. 1, 2020 /PRNewswire/ — ‘Staycation’ was undoubtedly the travel buzzword of 2020. With travel restrictions limiting people jetting off to far-flung destinations for some of the summer months this year, Americans looked to explore what was on their very own doorstep more so than ever before.
IHG Hotels & Resorts, which includes brands such as Holiday Inn, InterContinental, Crowne Plaza, Staybridge Suites and Kimpton, reveals new data about
Chicago, IL – October 1, 2020 – Zacks Equity Research Shares of Meritage Homes Corporation MTH as the Bull of the Day, Park Hotels & Resorts Inc. PK asthe Bear of the Day. In addition, Zacks Equity Research provides analysis on NIO Limited NIO, DouYu International Holdings Limited DOYU and Plug Power Inc. PLUG.
Here is a synopsis of all five stocks:
Meritage
– The Leela Palace Jaipur will bring The Leela Palace Programming and the Signature Palace Service to the Pink City
MUMBAI, India, Sept. 30, 2020 /PRNewswire/ — The Leela Palaces, Hotels and Resorts, owned by a Brookfield Asset Management sponsored private real estate fund, today announced the signing of a management agreement with Tulsi Palace Resorts Group to expand its portfolio to Rajasthan’s capital city, Jaipur. Over the next
MILWAUKEE–(BUSINESS WIRE)–Marcus® Hotels & Resorts, a nationally recognized hotel owner and management company and division of The Marcus Corporation (NYSE: MCS), today announced the appointment of Andrew Flack as its first ever chief commercial officer. Flack is a globally-experienced, results-oriented, proven leader with over 30 years of hospitality industry experience.
Flack most recently served as vice president marketing & eCommerce with Hilton Worldwide. In this role, he supported
If California were an independent country, it would qualify as the fourth-largest wine producer on … [+]
Editor’s Note: *Due to the current Covid-19 outbreak, the potential complications that may arise from recreational travel should not be taken lightly – it is recommended to thoroughly inspect CDC guidelines before making any travel plans.*
While the first three quarters of 2020 may not have played out the way
ORLANDO, Fla., Sept. 29, 2020 /PRNewswire/ — Xenia Hotels & Resorts, Inc. (NYSE: XHR) (“Xenia” or the “Company”) will report financial results for the third quarter 2020 before the market opens on Friday, October 30, 2020. Management will discuss the Company’s results during a conference call at 1:00 pm (Eastern Time) that day.
To participate in the conference call, please follow the steps listed below:
Friday, October 30,
Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today provided an operational and liquidity update.
Highlights
Reopened 14 hotels since June, increasing the total number of hotels open to 46 of 60 hotels (77%), or 59% of total room count;
Occupancy improved to 32.3% for Park’s 33 consolidated hotels open during the entirety of July and 38.8% for Park’s 37 consolidated hotels open during the entirety of
Abu Dhabi: Conrad Hotels & Resorts will be rebranded as Conrad Abu Dhabi Etihad Towers on October 1, following the signing of a management deal between Hilton and Etihad Towers owner His Highness Sheikh Suroor Bin Mohammed Al Nahyan.
The global hospitality firm will replace Jumeirah to become the operators of the iconic hotel, which will be the first of Hilton’s luxury portfolio to operate in the UAE capital.
“Abu
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Abu Dhabi: One of Abu Dhabi’s most prestigious hotels will be rebranded on October 1, 2020 following the signing of a management agreement between Hilton and Sheikh Suroor Bin Mohammed Al Nahyan.
The property will be known as Conrad Abu Dhabi Etihad Towers and be the first of Hilton’s luxury portfolio to operate in the UAE capital.
With sharp fall in operating profits, the debt coverage indicators are likely to deteriorate in FY 2021, ICRA further said.
Rating agency ICRA has downgraded TAJGVK Hotels & Resorts Limited long-term loans and short-term credit facilities. The low rating was on account of expected decline in revenue and margins during this financial year, the hotel chain said.
In a filing with stock exchanges on Monday, the ICRA downgraded TAJGVK Hotels
DENVER–(BUSINESS WIRE)–Jeff Potter, former CEO of Frontier Airlines and Exclusive Resorts, as well as Los Angeles-based Surf Air, is putting on his entrepreneur hat and launching a new travel company – Manifest, an exclusive, chapter-based lifestyle and travel club that provides custom-crafted getaways to unique destinations within the U.S., paired with private plane service.
“I’ve been fortunate in my aviation, hospitality and travel career in that each
