“China Lodging Group boosts 4Q profit” plus 2 more |
- China Lodging Group boosts 4Q profit
- Chatham Lodging Announces Dividend
- Inland American Lodging Group, Inc. Completes $13 Million Transformation Within Their Courtyard by Marriott Portfolio
| China Lodging Group boosts 4Q profit Posted: 09 Mar 2011 03:42 PM PST On Wednesday March 9, 2011, 6:42 pm EST NEW YORK (AP) -- Economy-hotel operator China Lodging Group Ltd. said Wednesday that its fourth-quarter earnings rose more than 75 percent as it continued to open new hotels at a rapid pace. The company said 2011 revenue would grow between 34 and 38 percent, and it plans to open 200 new hotels to take advantage of growing demand for travel by Chinese consumers. China Lodging said it earned 34.9 million renminbi ($5.3 million), or 0.57 renminbi (9 cents) per share. A year earlier, it earned 19.8 million renminbi, or 0.42 per share. Quarterly revenue rose 29 percent to 478.6 million renminbi ($72.5 million). Analysts surveyed by FactSet expected the company to report revenue of $70 million. The company said it opened 70 hotels in the quarter and ended the year with 438 hotels in 65 cities in China. The average daily rate rose 10 percent during 2010, and the full-year occupancy rate for the year was 93 percent, down 1 point from 2009. For all of 2010, the company earned 215.8 million renminbi ($32.7 million) on revenue of 1.84 billion renminbi ($278.5 million). The shares rose 45 cents, or 2.6 percent, to $17.95 in regular trading, and gained $1, or 5.6 percent, to $18.95, in extended trading. Follow Yahoo! Finance on ; become a fan on Facebook. 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Chatham Lodging Announces Dividend Posted: 09 Mar 2011 05:58 AM PST Press Release Source: Chatham Lodging Trust On Wednesday March 9, 2011, 8:58 am EST PALM BEACH, Fla.--(BUSINESS WIRE)-- 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 its board of trustees has declared a common share dividend of $0.175 for the 2011 first quarter. Based on the company's common share closing price of $16.65 at the close of business on March 8, the annualized dividend represents a yield of approximately 4.2 percent. The common dividend is payable April 15, 2011, to shareholders of record on March 31, 2011. 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 13 hotels with an aggregate of 1,650 rooms/suites in nine states and has one additional hotel under contract to purchase in Pittsburgh, Pa. 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. Follow Yahoo! Finance on ; become a fan on Facebook. 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 09 Mar 2011 07:30 AM PST Press Release Source: Inland American Real Estate Trust, Inc. On Wednesday March 9, 2011, 10:30 am EST OAK BROOK, Ill.--(BUSINESS WIRE)-- Inland American Lodging Group, Inc. ("IALG"), a wholly owned subsidiary of Inland American Real Estate Trust, Inc., announced today that it has completed lobby renovation efforts at 19 Courtyard by Marriott hotels, adopting the "Refreshing Business" concept. The lobbies now feature many new amenities to significantly increase the satisfaction of the hotels' guests and allow the business traveler to stay connected. Elements of these new lobbies, which have become very popular with guests, include interactive 55-inch LCD touch screens offering local information, maps, weather, business news and sports headlines and new casual dining bistros with a full bar and Starbucks coffee. "Inland has always been committed to ensuring our hotel portfolio offers the latest in business travel services to attract the corporate meeting and travel market," said Marcel Verbaas, president and CEO, Inland American Lodging Advisor, Inc. "This capital dollar investment in our assets will continue to ensure premium returns to our stockholders as the lodging market continues its recovery." The investment totaled over $13 million, with an average cost of approximately $700,000 per lobby. IALG is also committed to completing five additional lobby renovations in 2011. "Since acquiring the majority of our assets in 2007 and 2008, Inland American has invested steadily to ensure that we have one of the best maintained and freshest portfolios in the industry," Mr. Verbaas continued, "The completion of these lobby renovations is a prime example of these efforts. " The Courtyards that were renovated are located in:
About Inland American Lodging Advisor, Inc. Inland American Lodging Advisor, Inc., located in Orlando, FL, focuses on acquiring and asset managing a diversified portfolio of lodging properties on behalf of Inland American Real Estate Trust, Inc. Inland American Lodging Advisor, Inc. currently oversees 104 hotels with 16,251 rooms branded under various Marriott, Hilton, Starwood, Hyatt, IHG and Choice brands that are managed either by the brand managers or independent third-party management companies. For further information regarding the company, please refer to our website at www.inlandamericanlodging.com. About Inland American Real Estate Trust, Inc. Inland American Real Estate Trust, Inc. focuses on acquiring and developing a diversified portfolio of commercial real estate including retail, multi-family, industrial, lodging, office and student housing properties, located in the United States and Canada. The company also invests in joint ventures, development projects, real estate loans and marketable securities. As of September 30, 2010 Inland American owned, directly or indirectly through joint ventures in which it has a controlling interest, 981 properties, representing more than 48 million square feet of retail, industrial and office properties, 10,547 multi-family units and 15,384 lodging rooms. Inland American is one of five REITs that are, or have been, sponsored by affiliates of The Inland Real Estate Group of Companies, Inc. For further information regarding Inland American, please refer to the company website at www.inlandamerican.com. Follow Yahoo! Finance on ; become a fan on Facebook. 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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