https://www.breakingtravelnews.com/tags/tag/hotel financial/ Hotel Financial News en Breaking Travel News Copyright 2026 2026-04-19T09:23:01+00:00 https://www.breakingtravelnews.com/news/article/hotstats-european-chain-hotels-market-review-june-2010/ https://www.breakingtravelnews.com/news/article/hotstats-european-chain-hotels-market-review-june-2010/ Hotels in London have recorded a rarely achieved room occupancy of 90% during June driving a year-on-year profitability increase of 16% for that month, according to the latest HotStats survey from TRI Hospitality Consulting. Fri, 30 Jul 2010 11:02:57 +0000 https://www.breakingtravelnews.com/news/article/new-hotel-investment-fund-aimed-at-further-network-growth-in-india/ https://www.breakingtravelnews.com/news/article/new-hotel-investment-fund-aimed-at-further-network-growth-in-india/ Accor and InterGlobe announce today the establishment of an investment fund for a portfolio of India hotel assets in which an affiliate of Pacifica Partners (Pacifica) will take a significant stake of up to 36% equity in the fund, subject to requisite regulatory approvals. Accor and InterGlobe will each hold 32% equity in the fund. Thu, 22 Jul 2010 17:29:59 +0000 https://www.breakingtravelnews.com/news/article/u.s.-hotel-performance-for-april-2010/ https://www.breakingtravelnews.com/news/article/u.s.-hotel-performance-for-april-2010/ The U.S. hotel industry posted mixed results in the three key performance measurements during April 2010, according to data from STR. Mon, 24 May 2010 12:55:48 +0000 https://www.breakingtravelnews.com/news/article/mgm-mirage-closes-845-million-senior-secured-notes-offering/ https://www.breakingtravelnews.com/news/article/mgm-mirage-closes-845-million-senior-secured-notes-offering/ MGM MIRAGE announced yesterday that it closed the private offering of $845 million of its 9% senior secured notes due March 2020. The notes were issued at par with a four-year no call feature. Thu, 18 Mar 2010 16:38:07 +0000 https://www.breakingtravelnews.com/news/article/mgm-mirage-announces-proposed-private-offering/ https://www.breakingtravelnews.com/news/article/mgm-mirage-announces-proposed-private-offering/ MGM MIRAGE today announced that it proposes to offer up to $845 million in aggregate principal amount of senior secured notes due 2020 in a private placement. The Company plans to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its senior credit facility and related fees and expenses. Tue, 09 Mar 2010 14:01:12 +0000 https://www.breakingtravelnews.com/news/article/mgm-mirage-announces-successful-amendment-and-extension-transaction/ https://www.breakingtravelnews.com/news/article/mgm-mirage-announces-successful-amendment-and-extension-transaction/ MGM MIRAGE today announced that lenders representing approximately $4.37 billion of the outstanding commitments under its $5.55 billion senior bank credit facility have entered into an amendment agreement (the “Amendment”) which, subject to certain conditions, will extend the maturity of a portion of the credit facility from October 3, 2011 to February 21, 2014. Fri, 26 Feb 2010 16:28:28 +0000 https://www.breakingtravelnews.com/news/article/peru-sale-of-thunderbird-hotel-pardo/ https://www.breakingtravelnews.com/news/article/peru-sale-of-thunderbird-hotel-pardo/ Thunderbird Resorts Inc. (“Thunderbird” or “Group”) reports the following: the Group’s Peru subsidiary, Thunderbird Hoteles Las Americas (“THLA”), owns and operates six hotels in Lima, Peru (the “THLA Hotels”). As previously reported, in order to reduce the Group’s investment and related debt in “non-gaming” assets in the fourth quarter of 2009 the Group began to actively engage in selling four of the six THLA hotels that have no casino component. Fri, 26 Feb 2010 12:07:16 +0000 https://www.breakingtravelnews.com/news/article/host-hotels-resorts-inc.-reports-results-of-operations-for-the-fourth-quart/ https://www.breakingtravelnews.com/news/article/host-hotels-resorts-inc.-reports-results-of-operations-for-the-fourth-quart/ Host Hotels & Resorts, Inc. (NYSE:HST) , the nation’s largest lodging real estate investment trust (REIT), today announced its results of operations for the fourth quarter and for the full year ended December 31, 2009. Thu, 18 Feb 2010 12:18:42 +0000 https://www.breakingtravelnews.com/news/article/mesa-west-capital-provides-financing-for-the-orrinton-hotel/ https://www.breakingtravelnews.com/news/article/mesa-west-capital-provides-financing-for-the-orrinton-hotel/ Mesa West Capital has provided an affiliate of Greenfield Partners, LLC with $14.5 million in first mortgage financing for the recapitalization of their existing loan on the Orrington Hotel, a full-service hotel located in Evanston, Illinois. Wed, 17 Feb 2010 12:30:53 +0000 https://www.breakingtravelnews.com/news/article/ihg-warns-of-tough-outlooks-as-profits-slide/ https://www.breakingtravelnews.com/news/article/ihg-warns-of-tough-outlooks-as-profits-slide/ InterContinental Hotels has reported a 19% slump in full-year net profit and said trading would “stay tough” until business travel picked up. But the world’s largest hotel operator also added that bookings over the past quarter had showed signs of recovery. Tue, 16 Feb 2010 13:48:33 +0000 https://www.breakingtravelnews.com/news/article/phuket-hotels-lose-us300-million-in-rate-plunge/ https://www.breakingtravelnews.com/news/article/phuket-hotels-lose-us300-million-in-rate-plunge/ Industry-wide discounting by Phuket hotels cost the industry on the island US$300 million in room revenue in 2009, according to the Phuket Hotel Market Update report compiled by Thailand consultancy C9 Hotelworks. Fri, 29 Jan 2010 11:32:57 +0000 https://www.breakingtravelnews.com/news/article/choice-hotel-international-highlight-growth-prospects-at-americas-lodging-i/ https://www.breakingtravelnews.com/news/article/choice-hotel-international-highlight-growth-prospects-at-americas-lodging-i/ Executives from Choice Hotels International, Inc. (NYSE:CHH) highlighted the franchisor’s extensive opportunities for growth and shared their insights on its business operations at the eighth annual America’s Lodging Investment Summit, held this week in San Diego, California. Speakers from Choice Hotels included President and Chief Executive Officer Stephen P. Joyce, Senior Vice President, eCommerce and Global Distribution Mary Beth Knight, and Vice President of Emerging Brands, Kevin Lewis. Thu, 28 Jan 2010 11:53:20 +0000 https://www.breakingtravelnews.com/news/article/why-hotels-are-not-recovering-any-time-soon/ https://www.breakingtravelnews.com/news/article/why-hotels-are-not-recovering-any-time-soon/ PhoCusWright Hotel industry performance is often predictable yet somehow still catches us by surprise. Like any other economy, the sector relies on a balance of supply and demand-do not let the flat panel TVs and fantastic beds fool you. Hotel performance is significantly tied to the overall economy as well as the industry’s own cyclical trends. Recovery is a vague concept but one that is easy to evaluate. Here is the PhoCusWright Financial Edition’s outlook for the hotel industry. Tue, 19 Jan 2010 17:38:02 +0000 https://www.breakingtravelnews.com/news/article/uk-hotel-values-off-34-from-peak/ https://www.breakingtravelnews.com/news/article/uk-hotel-values-off-34-from-peak/ The full impact of the recession continued to hamper transactional activity and reduce average property values across the hotel, pub, restaurant, leisure, care and retail sectors during 2009, according to Christie + Co’s Business Outlook 2010 publication. Mon, 18 Jan 2010 16:51:19 +0000 https://www.breakingtravelnews.com/news/article/ashford-hospitality-closes-19.7-million-refinancing-of-hilton-el-conquistad/ https://www.breakingtravelnews.com/news/article/ashford-hospitality-closes-19.7-million-refinancing-of-hilton-el-conquistad/ Ashford Hospitality Trust, Inc. (NYSE:AHT) today announced the refinancing of its $19.74 million loan secured by the Hilton El Conquistador Hotel and Country Club in Tucson, Arizona on December 29, 2009. The loan was set to mature in June 2011. The new non-recourse financing with MetLife for the same amount bears interest at the greater of 5.5% or LIBOR plus 350 basis points and is interest only for a term of five years. The Company’s average current interest rate on its total indebtedness, giving credit to the interest rate swap and flooridors, is 2.98%. As of September 30, 2009, the Company had $197.9 million of unrestricted cash available. Tue, 05 Jan 2010 17:21:24 +0000 https://www.breakingtravelnews.com/news/article/mgm-mirage-pursuing-hong-kong-ipo/ https://www.breakingtravelnews.com/news/article/mgm-mirage-pursuing-hong-kong-ipo/ MGM Mirage is pursuing an initial public offering in Hong Kong that could generate between US$300 million and US$500 million from the sale of a 20% to 30% stake. A launch date for the IPO has not yet been set. Thu, 31 Dec 2009 14:28:25 +0000 https://www.breakingtravelnews.com/news/article/strategic-hotels-resorts-signs-agreement-to-sell-the-renaissance-paris-hote/ https://www.breakingtravelnews.com/news/article/strategic-hotels-resorts-signs-agreement-to-sell-the-renaissance-paris-hote/ Strategic Hotels & Resorts, Inc. (NYSE:BEE) , today announced that the company has signed a purchase and sale agreement for the sale of the Renaissance Paris Hotel Le Parc Trocadero to an investment group led by an affiliate of Westmont Hospitality for a gross price of euro 35.5 million ($51.5 million), or approximately euro 305,000 per room. The sale, subject to certain closing contingencies, is scheduled to close within 45 days. The 116-room property was forecasted to contribute approximately euro 2.1 million in EBITDA for the full year 2009, representing a sales multiple of 16.6 times and a capitalization rate of 4.8% on NOI. The company also remains entitled to receive approximately euro 1.4 million in the first quarter of 2010 related to the 2009 performance guarantee with Marriott International. Thu, 17 Dec 2009 12:56:10 +0000 https://www.breakingtravelnews.com/news/article/adriatic-luxury-hotels-group-beats-sales-targets-despite-year-of-economic-c/ https://www.breakingtravelnews.com/news/article/adriatic-luxury-hotels-group-beats-sales-targets-despite-year-of-economic-c/ At a meeting last week at the Grand Hotel Bonavia in Rijeka, the Supervisory Board of GSHR Holdings Ltd (the parent company of Adriatic Luxury Hotels Group) and Management Board of ALH concluded that during the first nine months of 2009 ALH Group hotels achieved good performance, particularly considering the very difficult market conditions caused by the global financial crisis. Tue, 08 Dec 2009 17:13:24 +0000 https://www.breakingtravelnews.com/news/article/us-hotel-performance-for-the-week-ending-22-august-2009/ https://www.breakingtravelnews.com/news/article/us-hotel-performance-for-the-week-ending-22-august-2009/ The U.S. hotel industry posted declines in all three key performance measurements during the week of 16-22 August 2009, according to data from STR. Fri, 28 Aug 2009 15:17:23 +0000 https://www.breakingtravelnews.com/news/article/accor-considers-splitting-into-two-stand-alone-businesses/ https://www.breakingtravelnews.com/news/article/accor-considers-splitting-into-two-stand-alone-businesses/ Accor may streamline its operations by splitting its hotels operations and services division into two separate companies. Shares in Europe’s largest hotel group rose sharply on the news despite it announcing losses of €150m in the first half due to restructuring costs and weak demand. Thu, 27 Aug 2009 18:07:43 +0000 https://www.breakingtravelnews.com/news/article/str-reports-u.s.-hotel-pipeline-for-july-2009/ https://www.breakingtravelnews.com/news/article/str-reports-u.s.-hotel-pipeline-for-july-2009/ The total active U.S. hotel development pipeline includes 4,554 projects with 487,831 rooms, according to the July 2009 STR/TWR/Dodge Construction Pipeline Report released this week. Thu, 13 Aug 2009 09:32:38 +0000 https://www.breakingtravelnews.com/news/article/award-winning-results-from-award-winning-properties/ https://www.breakingtravelnews.com/news/article/award-winning-results-from-award-winning-properties/ Shrewd international investments in award-winning properties have helped IFA Hotels & Resorts weather the global hospitality downturn. The Kuwait-based hotel group, which holds stakes in a string of luxury resorts ranging from Zimbali and Legends in South Africa to Golden Mile Palm Jumeirah in Dubai, has posted annual profits of US$108m (KD30.8m). Wed, 12 Aug 2009 09:30:22 +0000 https://www.breakingtravelnews.com/news/article/intercontinental-slides-into-red/ https://www.breakingtravelnews.com/news/article/intercontinental-slides-into-red/ InterContinental Hotels, the world’s largest hotel group, has fallen sharply into the red as hotels globally are hit by fewer people travelling in the downturn and fears over swine flu. Tue, 11 Aug 2009 14:25:24 +0000 https://www.breakingtravelnews.com/news/article/btn20090629110218666/ https://www.breakingtravelnews.com/news/article/btn20090629110218666/ Hilton Hotels Corporation has signed a Management Agreement with the New Doha Hotels Company for the Hilton Doha Residence in Qatar scheduled to open in 2012. Mon, 29 Jun 2009 11:02:25 +0000