“Lodging companies poised for strong 2Q results” plus 2 more |
- Lodging companies poised for strong 2Q results
- City sets sights on vacation rentals
- Waldorf Astoria Hotels & Resorts of Florida Add Sizzle to Summer Best with a Night Free Offer
| Lodging companies poised for strong 2Q results Posted: 28 Jun 2010 09:30 AM PDT NEW YORK (AP) -- Lodging companies are poised to report strong second-quarter results as the industry slowly recovers from weak demand during the recession, a Citi Investment Research analyst said Monday. THE OPINION: Analyst Joshua Attie said revenue per available room, or revpar -- a key gauge of a lodging operator's performance -- is up 7 percent in the U.S. quarter to date. That is mainly due to higher occupancy, he said, but pricing is improving as well. He said growth accelerated throughout the quarter and most companies are "well-positioned" to meet or exceed analyst estimates. He added that LaSalle Hotel Properties and Host Hotels & Resorts Inc. have the best chance to beat estimates while Orient Express Hotels Ltd. might fall short. He said the best relative values in the sector are "Buy"-rated Hyatt Hotels Corp. and DiamondRock Hospitality Co. THE STOCK: LaSalle Hotel Properties shares rose 10 cents to $22.45 in midday trading. Host Hotels & Resorts shares rose 7 cents to $14.48. Orient Express Hotels were unchanged at $8.61. Starwood Hotels & Resorts Worldwide fell 2 cents to $45.62. Five Filters featured article: Headshot - Propaganda, State Religion and the Attack On the Gaza Peace Flotilla. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | ||||||||||||||||||||||||||||||||||||||||||||||||
| City sets sights on vacation rentals Posted: 28 Jun 2010 06:55 PM PDT Chicago hospitality for years has meant big hotels with big names. But in the shadow of the behemoths, overlooked by most Chicagoans and city visitors, another type of lodging is swiftly taking root. While Europe has a long history of visitors renting apartments on a nightly basis, these so-called vacation rentals were virtually unknown in Chicago a decade ago. Even now, most people are unaware of the business, which differs from bed-and-breakfasts in that owners frequently are not on the premises and food is not served. Now, vacation rentals are gaining attention — and scrutiny from City Hall.
Ironically, the niche's growth spurt has its roots in a sour economy. Some were launched by landlords who found recession-era rents were insufficient to make precrash mortgages. Others were initiated by owners of condos purchased as second homes or as investments they hoped to flip before the economy cratered. Now they are trying to avoid foreclosure. The growing ranks of travelers who want to shave costs, whether by bunking up with extended family or fixing their own breakfasts, are taking to these offerings, which are easier to find since the advent of nationwide and international online listings. The bottom line: Chicago's growth rate in vacation rentals is second only to Washington, D.C., among major markets, according to HomeAway Inc., which owns and operates three major online listings for vacation rentals. And the Chicago City Council is poised Wednesday to make Chicago the first major city in the nation to license and regulate vacation rentals. Much of the long-running debate has focused on the downsides: complaints about congested lobbies, overcrowding of swimming pools and fitness centers, and house parties, including one on the Northwest Side where a fatal shooting occurred. But there is another, often overlooked element to this business: A coterie of reputable entrepreneurs has invested millions of dollars to create graceful lodgings in some of the city's hippest neighborhoods. And they say they have done so out in the open, under the terms of the city's landlord-and-tenant ordinance, paying the required taxes. If the City Council opts Wednesday to license and regulate vacation rentals, as expected, these mom-and-pop businesses say they will be boxed into a tight corner by high fees and strict limits on new development. Many fear the nascent industry could die out. "I absolutely believe that's the intent, to snuff out the business," said Teri Smith, who has spent seven years and $3.6 million to develop Chicago Guest House, which leases six handsomely appointed Wrigleyville and Lakeview apartments as vacation rentals. Ald. Brendan Reilly, 42nd, who has spearheaded the licensing push, said the ordinance "in no way attempts to stamp out an emerging industry. It will make it lawful and legitimate for the first time in Chicago." The regulations "give the industry certainty, give homeowners protections and assure visitors to Chicago that they will be in safe accommodations," said Reilly. The proposed ordinance has the qualified support of the Illinois Hotel & Lodging Association, though the hotel trade group would prefer that vacation rentals were outlawed completely, said Marc Gordon, association president and chief executive. Vacation rental owners "are not hotel people, in terms of maintaining quality, covering security, covering safety," he said. Chicago has about 120 listings on HomeAway.com, compared with 60 a year ago, said Carl Shepherd, the company's co-founder. The overall market here, some observers say, is between 300 and 700 units, still quite small compared with more than 30,000 hotel rooms in the central city. The rentals appeal to folks like Chicago native Gail Kennedy, who comes in twice a year from Colorado to visit her mother. Kennedy has extended her stays now that she found a downtown vacation rental with easy access to River North galleries, the city's museums and its ethnic neighborhoods. "Breakfast is easy with our own little kitchen: bagel, cream cheese and coffee," said Kennedy, who comes in with her husband and, sometimes, their two grown daughters. Under the licensing ordinance, the city would set health and safety standards, have the authority to make inspections and the power to fine violators and suspend licenses. Some business owners say they are fine with such regulation. But other restrictions, with significant financial implications, have them worried about survival. Licensing fees would be $500 per unit every two years. For Jim and Yanan Haring, proprietors of China Doll Guest House, with eight units in Lincoln Park, the tab would be $4,000. In contrast, the biennial fee for a bed-and-breakfast, regardless of number of rental rooms, is $400, and the fee for a 350-room hotel would be just under $1,000.
Five Filters featured article: Headshot - Propaganda, State Religion and the Attack On the Gaza Peace Flotilla. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | ||||||||||||||||||||||||||||||||||||||||||||||||
| Waldorf Astoria Hotels & Resorts of Florida Add Sizzle to Summer Best with a Night Free Offer Posted: 28 Jun 2010 06:15 AM PDT MCLEAN, Va.--(BUSINESS WIRE)--The Waldorf Astoria Hotels & Resorts of Florida are adding some sizzle to their summer offerings with a night free plus breakfast for the kids to cool down spending but warm up summer vacations. Stay three consecutive nights and receive the fourth night free at six of the seven Waldorf Astoria properties in Florida through until September 6, 2010 and stay four consecutive nights and receive the fifth night free at the Edgewater Beach hotel now through September 6, 2010. Located in some of the state's most popular destinations, the following Waldorf Astoria Hotels & Resorts are offering a cool way to spend the summer. Book three consecutive nights and you'll receive the fourth night free, plus children under 18 will enjoy a free daily breakfast at the following hotels:
Book four consecutive nights at the Edgewater Beach Hotel, with rates from $149 per night, and you will receive the fifth night free: www.EdgewaterNaples.com. For reservations and to book your free night, call 888-557-6369 or visit www.waldorfastoria.com/bestofwaldorfastoria/.
Terms & Conditions: Offer valid at participating properties for stays until September 6, 2010 and subject to availability. Blackout dates may apply. Rates valid for single/double occupancy and are exclusive of taxes, incidental charges, gratuities and resort fees, where applicable. Additional restrictions do apply. Length of stay requirements for earning a free night vary by participating property: free fourth night after three paid nights on same visit offered by Boca Raton Resort, Boca Beach Club, Naples Grande, Waldorf Astoria Orlando, Casa Marina Resort and The Reach; free fifth night after four paid nights on same visit offered at Edgewater Beach Hotel. Advance booking required. Blackout and other restrictions may apply. Subject to full terms and conditions at www.waldorfastoria.com/bestofwaldorfastoria/. About Waldorf Astoria Hotels & Resorts WALDORF ASTORIA is Hilton Worldwide's luxury brand of landmark hotels, with each one as singular and timeless as the brand's namesake, The Waldorf=Astoria Hotel in New York. From classic elegance to modern grandeur, Waldorf Astoria Hotels & Resorts and Waldorf Astoria Collection hotels each represent worldly sophistication and unparalleled guest service. From sumptuous spas and culinary excellence to world-class golf, each hotel & resort offers the exquisite accommodations and signature accoutrements that define refinement and sophistication. Discover Waldorf Astoria by visiting www.waldorfastoria.com. About Hilton Worldwide Hilton Worldwide is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For 91 years, Hilton Worldwide has been offering business and leisure travelers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,600 hotels and 592,000 rooms in 81 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton, Doubletree, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors®. For more information about the company, please visit www.hiltonworldwide.com. Five Filters featured article: Headshot - Propaganda, State Religion and the Attack On the Gaza Peace Flotilla. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| You are subscribed to email updates from Yahoo! News Search Results for Hotels and Lodging To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 comments:
Post a Comment