“Hyatt Hotels Returns to 2Q Profit” plus 3 more |
- Hyatt Hotels Returns to 2Q Profit
- Summary Box: Hyatt Hotels 2Q Results
- Luxury Hotels Still Struggling To Recover | thetransnational.travel
- Chatham Lodging Trust Announces Second Quarter Earnings Conference Call to Be Held on Wednesday, August 11, 2010
| Hyatt Hotels Returns to 2Q Profit Posted: 05 Aug 2010 05:29 AM PDT CHICAGO August 5, 2010 (AP) Hyatt Hotels Corp. said Thursday that it returned to a second-quarter profit as demand for its rooms increased, especially abroad. The hotel owner said it earned $25 million, or 14 cents per share, during the quarter that ended in late June. That's far better than last year's loss of $50 million, or 34 cents per share. Last year's results were hurt by hefty one-time costs that cut net income by 43 cents per share. Thursday's figures also include one-time items, but they dragged down results by only 4 cents per share. Quarterly revenue rose 5 percent to $889 million, up from $847 million last year. Analysts surveyed by Thomson Reuters expected the hotel chain based in Chicago to earn 8 cents per share on revenue of $901 million. Hyatt said an important industry measure of revenue for each available room rose 9.6 percent during the quarter. The measure rose 6.8 percent in North American and 21.4 percent from the company's international locations. The company was also able to collect more fees and said more travelers were making reservations. Thursday's results continued the string of better news from some of the nation's biggest hotel owners. Last month, Marriott International Inc. tripled its second-quarter net income and boosted its full-year outlook as revenue improved. And Starwood Hotels & Resorts Worldwide Inc.'s revenue rose on higher room prices and the company boosted its outlook for the year. Both those competitors recorded sizable gains in revenue per available-room and offered a heartening sign for a company and industry recovering from a recession that drove down occupancy and room rates. Hyatt became publicly traded in November and has 445 properties. Its shares closed Wednesday at $39.87. (This version CORRECTS company name to Hyatt Hotels, rather than Hyatt Hotel.) Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | |||
| Summary Box: Hyatt Hotels 2Q Results Posted: 05 Aug 2010 01:59 PM PDT August 5, 2010 (AP) BETTER RESULTS: Hyatt Hotels Corp. returned to a second-quarter profit as demand for its rooms increased, especially abroad. KEY MEASURE: An important industry measure of revenue per available room rose 9.6 percent during the quarter. It climbed 6.8 percent in North America and 21.4 percent at international locations. INDUSTRY OPTIMISM: Thursday's results continued the string of better news from some of the nation's biggest hotel owners who've reported rising occupancy and room rates. Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | |||
| Luxury Hotels Still Struggling To Recover | thetransnational.travel Posted: 05 Aug 2010 05:50 AM PDT |  5 August 2010
Demand in the luxury lodging segment has steadily climbed year to date, but average daily rates and group rates are not keeping pace, according to Smith Travel Research. In comparison with dismal 2008 and 2009 figures, occupancy and revenue in the sector have jumped this year, but the sluggish ADR performance has some predicting corporate buyers will maintain their leverage over luxury hotels in the 2011 negotiation season. In luxury, "it is a buyer's market, and hotel sales managers tend to negotiate based on current market conditions even though most people are expecting things to get better next year," said Mark Woodworth, president of PKF Hospitality Research. "Hotel sales managers were really burned last year, and they are really trying to get people back in the door. The leverage of the negotiation is with the buyer and the corporate meeting planner for next year. But as ADR starts to grow, that is when corporate sales managers will get a little more aggressive and the pendulum will start to swing." smith travel research, hospitality research, research hotel, keeping pace, hotel sales, luxury lodging, sales managers, s market, woodworth, meeting planner, luxury hotels, group rates, current market, pendulum, adr, year to date, negotiation, leverage, segment thetransnational.travel
| Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. | |
| Posted: 04 Aug 2010 10:25 AM PDT Press Release Source: Chatham Lodging Trust On Wednesday August 4, 2010, 1:25 pm EDT PALM BEACH, Fla., Aug. 4 /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 will report second quarter 2010 financial results on Tuesday, August 10, 2010, following the close of the market. On Wednesday, August 11, at 10 a.m. EDT, Jeffrey H. Fisher, Chatham's chief executive officer, and Julio E. Morales, its chief financial officer, will host a conference call to review second quarter 2010 financial results. Shareholders and other interested parties may listen to a simultaneous webcast of the conference call on the Internet by logging onto Chatham's Web site, www.chathamlodgingtrust.com, or www.streetevents.com, or may participate in the conference call by calling (877) 941-6010, reference number 4335972. A recording of the call will be available by telephone until midnight on Tuesday, August 17, 2010, by dialing (800) 406-7325, reference number 4335972. A replay of the conference call will be posted on Chatham's website. 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. Including this property, the company currently owns eight hotels with an aggregate of 1,057 rooms/suites, and has a total of three 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. Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
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