“Chatham Lodging Trust Signs Agreement to Acquire Upscale Extended-Stay Hotel in North San Diego” plus 3 more |
- Chatham Lodging Trust Signs Agreement to Acquire Upscale Extended-Stay Hotel in North San Diego
- Hotels.com Guest Reviews Reveal Surprising Increase in Airport Hotel Popularity Among Travelers
- For Hotels, Eco-Friendly Ideas Await a Friendlier Economy | nytimes.com
- Choice Hotels Confirms Pricing of Senior Notes Offering
| Chatham Lodging Trust Signs Agreement to Acquire Upscale Extended-Stay Hotel in North San Diego Posted: 18 Aug 2010 05:58 AM PDT Press Release Source: Chatham Lodging Trust On Wednesday August 18, 2010, 8:58 am EDT PALM BEACH, Fla., Aug. 18 /PRNewswire-FirstCall/ -- Chatham Lodging Trust (NYSE:CLDT - News), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium-branded select-service hotels, today announced that it has signed a contract to acquire an upscale extended-stay hotel in north San Diego, California in an all-cash transaction for $32 million. The property marks the 13th hotel either acquired or under contract to purchase by Chatham in the past four months since its April 21, 2010 initial public offering. "This is our first acquisition on the West Coast, and Southern California is one of our key target markets," said Jeffrey H. Fisher, Chatham's chief executive officer. "We expect to fund the acquisition with our anticipated $85 million senior secured credit facility. "The property fits our model of a great location, in a market with multiple demand generators and superb visibility and accessibility," he added. "We believe that the San Diego market also has among the highest barriers to new competition in the country. "This transaction, like many of our others, is one that we sourced based on our long-standing relationships within the market," he said. "It was not actively marketed, and we were able to acquire the hotel at what we believe is an attractive price." Completion of the hotel acquisition is subject to satisfactory completion of due diligence and other customary closing conditions. Upon consummation of the transaction, the hotel will be managed by Island Hospitality Management, which is 90 percent-owned by Fisher. About Chatham Lodging Trust Chatham Lodging Trust is a self-advised real estate investment trust that was organized to invest in upscale extended-stay hotels and premium-branded select-service hotels. The company currently owns eight hotels with an aggregate of 1,057 rooms/suites and with the addition of this contract has a total of five additional hotels under contract to purchase. Additional information about Chatham may be found at www.chathamlodgingtrust.com. This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 about Chatham Lodging Trust, including those statements regarding acquisitions, capital expenditures, future operating results and the timing and composition of revenues, among others, and statements containing words such as "expects," "believes" or "will," which indicate that those statements are forward-looking. Except for historical information, the matters discussed in this press release are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results or performance to differ materially from those discussed in such statements. Additional risks are discussed in the company's filings with the Securities and Exchange Commission.
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| Hotels.com Guest Reviews Reveal Surprising Increase in Airport Hotel Popularity Among Travelers Posted: 18 Aug 2010 08:17 AM PDT Press Release Source: Hotels.com On Wednesday August 18, 2010, 11:17 am EDT DALLAS, Aug. 18 /PRNewswire/ -- According to Hotels.com® guest reviews, staying at the airport has gone from bleak to chic with the introduction of luxe amenities and convenient time and money saving services that rival more expensive city-centered hotels. It's a fact that airport hotels have always given travelers the ease and convenience of being as close as possible to their gate the night before a trip, and are also known as a place to crash in between bad weather and "technical difficulties." Our Hotels.com guest reviews show airport hotels have surprisingly exceeded expectations and have made travelers reconsider staying at airport hotels. (Photo: http://photos.prnewswire.com/prnh/20100818/NY52136) (Photo: http://www.newscom.com/cgi-bin/prnh/20100818/NY52136) "Travelers today are highly influenced by the opinions of others," commented Hotels.com Director of Public Relations, Taylor L. Cole, APR. "Many of our 1-million guest reviews are showing an increase in the approval rating for airport hotels which indicates that more often airport hotels are meeting and exceeding the needs of busy business and leisure travelers who expect savings, amenities and the convenience of an airport location." Savings Staying at the airport costs on average 42 percent* less than staying at a centrally-located downtown property. Business travelers looking to save money during these difficult economic times can trim costs by utilizing airport accommodations versus more expensive downtown hotels. Many airport hotels aim to save money for the business traveler as well as the leisure traveler by offering complimentary Wi-Fi and hot breakfast. The Crystal Inn & Suites Denver Airport starts each guest's day off right with complimentary hot Belgian waffles and Denver omelettes with accommodations as low as $89 per night. A Hotels.com guest review of the Crystal Inn & Suites Denver Airport claims, "I was very impressed with every aspect of this hotel! Probably my favorite part was the comfort of the bed. I was tempted to ask what the brand of mattress was. Due to our unique circumstances, we were able to check in much earlier than check in time without a problem and the customer service was outstanding. I would definitely stay here again!" Amenities and Location Four Points by Sheraton Los Angeles International Airport offers their guests an outdoor pool to soak up the LA rays before boarding a flight for a little as $69 per night. The on-site Palm Grill Restaurant offers special jet-lag remedy meals while the property also boasts a 24-hour fitness room and an 18-hole public golf course just 1.5 miles from the hotel. One Hotels.com guest reviewer commented, "Good experience; very functional for everything I wanted in a hotel - easy to get to and from, has all the amenities...." What travelers often forget is that many airport hotels are conveniently located within major cities, with easy access via subway, bus, shuttle or light-rail. For instance, Boston's Logan International Airport is a short ride to the world-famous Faneuil Hall Marketplace shopping and entertainment district. Many hotels in this area average $250-$400 per night. With rates as low as $119, the AAA Four Diamond Hilton Boston Logan Airport boasts its own skywalk that links guests to the airports terminals where Boston's public transportation can be accessed. Hilton Boston Logan Airport's Cafe Presto prepares travel-ready meals and is conveniently located in the lobby for guests in a hurry and in need of something on the go. A Hotels.com guest reviewer said, "Great place to stay, easy access to transportation. We were able to either take the shuttle or walk across the skywalk to the airport where we could hop on the Silver Line and then connect to whatever train line we wanted." The Radisson Hotel Reagan National Airport provides guests with complimentary shuttle service that transports guests to the Crystal City Metro Station and shopping at the Crystal City Underground. A recent Hotels.com survey revealed that travelers prefer to use a complimentary bus/shuttle when traveling to their airport hotel despite the fact that more than 84 percent of travelers pay for a taxi while traveling. Taking advantage of complimentary transportation is a great way to lower travel costs especially for the solo traveler. The Radisson Hotel Regan National Airport also offers a seasonal rooftop pool and fitness center, and the hotel's 245-guestrooms are furnished with microwave ovens, refrigerators, and coffeemakers. The hotel is five blocks from the Pentagon and rates start at $79. Hotels.com makes it easy for travelers to choose an airport hotel. Visit the Hotels.com homepage and use the 'Where are you going?' box to search by city/destination or airport code. Add travel dates, number of rooms and travelers to view pictures of hotels and read guest reviews from real travelers. For images, company snapshots, and more, please click here for the Hotels.com media room
About Hotels.com Hotels.com® is a leading provider of lodging worldwide, offering more than 85,000 properties in over 60 countries from national chain hotels and all-inclusive resorts to local favorites and bed & breakfasts. Hotels.com is the smarter way to book travel by offering welcomerewards®, an industry leading loyalty rewards program; the real opinions of other travelers captured in over 1.5 million Guest Reviews and; a Price Match Guarantee, so that those booking with Hotels.com can be assured they are getting the best deal, either online or by speaking directly to a travel expert at 1-800-2-HOTELS 24 hours a day. For more information, please visit hotels.com. Hotels.com is an operating company of Expedia, Inc. (Nasdaq:EXPE - News). Please visit the Hotels.com Travel Smart Blog for consumer and business travel information. Follow us on Twitter via www.twitter.com/hotelsdotcom, on Facebook at www.facebook.com/hotelsdotcom and take a VirtualVacation at www.virtualvacay.com. Hotels.com, A Smarter Way to Book™. *based on airport hotels averaged at $75.50 per night and downtown hotels averaged at $130.80 per night on random dates. Prices/rates are subject to availability. See site for details. Hotels.com and the Hotels.com logo are either registered trademarks or trademarks of Hotels.com, LP. Other logos or products and company names mentioned herein may be the property of their respective owners © 2010 Hotels.com, LP. All rights reserved. CST # 2083949-50 This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php | |||||||||||||||||||||||
| For Hotels, Eco-Friendly Ideas Await a Friendlier Economy | nytimes.com Posted: 17 Aug 2010 08:05 AM PDT |  17 August 2010
Hotels eager to satisfy the growing desire of business travelers for eco-friendly lodging are finding that their environmental ambitions have run headlong into the harsh realities of the recession. When the economy was thriving, developers were promoting environmental flourishes like roof gardens, floors of reclaimed wood, and solar panels. When the Orchard Garden Hotel opened in San Francisco in 2006, it featured furniture made from sustainably grown wood. orchard garden, harsh realities, roof gardens, reclaimed wood, business travelers, solar panels, flourishes, garden hotel, recession, ambitions, desire, developers, furniture, economy, san francisco, hotels, grown wood nytimes.com
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| Choice Hotels Confirms Pricing of Senior Notes Offering Posted: 18 Aug 2010 03:02 PM PDT Press Release Source: Choice Hotels International, Inc. On Wednesday August 18, 2010, 6:02 pm EDT SILVER SPRING, Md., Aug. 18 /PRNewswire-FirstCall/ -- Choice Hotels International, Inc., (NYSE:CHH - News) (the "Company") announces the pricing of its senior notes in an aggregate principal amount of $250 million, in an underwritten, registered public offering. The notes will mature in August 2020 and will bear interest at a rate of 5.7%. The notes will be unsecured, unsubordinated obligations of the Company and will be guaranteed by certain U.S. subsidiaries of the Company. The Company intends to use the proceeds from the notes offering to repay other outstanding indebtedness under its unsecured revolving credit facility, without any corresponding reduction in the availability of future borrowings under the credit facility. The offering and sale of the senior notes is being made pursuant to an automatic shelf registration statement on Form S-3 filed with the Securities and Exchange Commission ("SEC"). The offering is expected to close on or about August 25, 2010. Goldman, Sachs & Co., J.P. Morgan Securities Inc., Wells Fargo Securities, LLC, Banc of America Securities LLC and SunTrust Robinson Humphrey, Inc. are acting as joint book-running managers for the offering. The senior notes offering may be made only by means of a preliminary prospectus supplement and the accompanying prospectus. When available, a copy of the preliminary prospectus supplement and accompanying prospectus related to the offering may be obtained from any of the following:
A copy of the prospectus included in the registration statement may also be obtained from the SEC's website at www.sec.gov. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any security, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Choice Hotels Choice Hotels International, Inc. franchises more than 6,000 hotels, representing more than 490,000 rooms, in the United States and more than 35 other countries and territories. As of June 30, 2010, more than 580 hotels are under construction, awaiting conversion or approved for development in the United States, representing more than 47,000 rooms, and approximately 100 hotels, representing approximately 8,700 rooms, are under construction, awaiting conversion or approved for development in 20 other countries and territories. Forward-Looking Statements This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks, uncertainties and other factors, including satisfaction of the closing conditions contained in the underwriting agreement between the company and the underwriters, which include a condition that there be no material adverse effect on the company's business prior to the closing of the offering and other conditions in whole or in part beyond the company's control. Several factors could cause actual results, performance or achievements of the company to differ materially from those expressed in or contemplated by the forward-looking statements. Such risks include, but are not limited to, changes to general, domestic and foreign economic conditions; operating risks common in the lodging and franchising industries; changes to the desirability of our brands as viewed by hotel operators and customers; changes to the terms or termination of our contracts with franchisees; our ability to keep pace with improvements in technology utilized for reservations systems and other operating systems; fluctuations in the supply and demand for hotels rooms; and our ability to manage effectively our indebtedness. These and other risk factors are discussed in detail in the Risk Factors section of the company's Form 10-K for the year ended December 31, 2009, filed with the Securities and Exchange Commission ("SEC") on March 1, 2010, and in other documents filed by us with the SEC. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Choice Hotels, Choice Hotels International, Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites, MainStay Suites, Suburban Extended Stay Hotel, Econo Lodge, Rodeway Inn and Ascend Collection are proprietary trademarks and service marks of Choice Hotels International. © 2010 Choice Hotels International, Inc. All rights reserved. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
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