SAN CLEMENTE, Calif. -- Sunstone Hotel Investors Inc. plans to turn over its Marriott Ontario Airport hotel in Southern California to its lenders, the second of its properties to be handed back to the bank after the company decided against making further mortgage payments.
Read more:
Friday, September 18, 2009
Sonic expects adjusted 2010 profit to rise
OKLAHOMA CITY (AP) -- Sonic Corp. said Thursday that its fiscal 2010 adjusted profit will climb from the previous year, helped by lower commodity costs and reduced interest expense.
The chain of drive-in restaurants anticipates adjusted earnings will rise 10 percent to 12 percent from 2009.
It hasn't reported its fiscal 2009 results yet, but is expected to do so on Oct. 20.
Analysts polled by Thomson Reuters, whose estimates normally exclude one-time items, expect 2009 earnings of 71 cents a share and 2010 earnings of 80 cents per share.
Read more:
The chain of drive-in restaurants anticipates adjusted earnings will rise 10 percent to 12 percent from 2009.
It hasn't reported its fiscal 2009 results yet, but is expected to do so on Oct. 20.
Analysts polled by Thomson Reuters, whose estimates normally exclude one-time items, expect 2009 earnings of 71 cents a share and 2010 earnings of 80 cents per share.
Read more:
Ten New Pullman Hotels Signed in Asia in One Month
Pullman hotels - designed for the modern business and leisure traveler, announced today the addition of 5 more hotels (in addition to the 5 announced in mid August) to its ever growing network in Asia. The 5 hotels are located in the key growth markets of India and China. These hotels take the development commitments for the Pullman brand in Asia to 22 hotels, in addition to the 12 operating Pullman hotels in the region.
Read more:
Read more:
Cornell Research Study Says Look at ADR to Find Competing Hotels
While some hotel managers might simply look out the window to see their competition, new hotel research from Cornell's Center for Hospitality Research finds that the real competition is hotels that are charging similar average rates. The study, "Product Tiers and ADR Clusters: Integrating Two Methods for Determining Hotel Competitive Sets," by Jin-Young Kim and Linda Canina, compared two different ways of identifying a hotel's competitive set.
Read more:
Read more:
STR Global reports Central and South America pipeline for August 2009
LONDON—The Central/South America hotel development pipeline includes 145 projects with 21,750 rooms, according to the August 2009 STR Global Construction Pipeline Report released this week.
Read more:
Read more:
MGM Mirage warns of possible charge to earnings for CityCenter
MGM Mirage today warned it may take a charge against earnings to write down the value of its 50-percent interest in the $8.5 billion CityCenter complex preparing to open in December on the Las Vegas Strip.
At least part of the writedown may be related to the company's need to lower condominium prices at the resort in order to close sales of the condos. There are some 2,400 condominium and condominium-hotel units in multiple towers at the resort.
Read more:
At least part of the writedown may be related to the company's need to lower condominium prices at the resort in order to close sales of the condos. There are some 2,400 condominium and condominium-hotel units in multiple towers at the resort.
Read more:
STR reports Caribbean and Mexico pipeline for August 2009
The Caribbean/Mexico hotel development pipeline includes 141 hotels comprising 18,535 rooms, according to the August 2009 STR Construction Pipeline Report released this week.
Read more:
Read more:
STR Global reports Europe pipeline for August 2009
The European hotel development pipeline includes 585 hotels comprising 94,259 rooms, according to the August 2009 STR Global Construction Pipeline Report released this week
Read more:
Read more:
STR Global reports Middle East/Africa pipeline for August 2009
The Middle East/Africa hotel development pipeline includes 468 hotels comprising 126,464 rooms, according to the August 2009 STR Global Construction Pipeline Report released last week.
Read more:
Read more:
More Financial Blues for The Fontainebleau
You’ve probably already heard that the still-under-construction Fontainebleau Las Vegas went bankrupt. (Although the Miami Herald reports that the property’s lawyers won an additional three weeks in bankruptcy protection this week, as they try to sell the sucker off.)
Read more:
Read more:
FelCor Commences Tender Offers for Its Senior Secured Floating Rate Notes
IRVING, Texas--(BUSINESS WIRE)--FelCor Lodging Trust Incorporated (NYSE: FCH) and its subsidiary, FelCor Lodging Limited Partnership (“FelCor LP”), today announced that on September, 17, 2009, FelCor LP commenced cash tender offers for all of its $215 million aggregate principal amount of senior secured floating rate notes due 2011 (CUSIP No. 31430Q AY3) and all of its $300 million aggregate principal amount of 8½% senior notes due 2011 (CUSIP No. 31430Q AL1)
Read more:
Read more:
The Marcus Corporation Reports First Quarter Results
First Quarter Fiscal 2010 Highlights
- Total revenues for the first quarter of fiscal 2010 were $110,153,000, compared to revenues of $120,371,000 for the first quarter of fiscal 2009.
- Operating income was $18,975,000 for the first quarter of fiscal 2010, compared to operating income of $23,947,000 for the same period in the prior year.
- Net earnings were $10,218,000 or $0.34 per diluted common share for the first quarter of fiscal 2010, compared to net earnings of $12,433,000 or $0.42 per diluted common share for the first quarter of fiscal 2009.
Read more:
- Total revenues for the first quarter of fiscal 2010 were $110,153,000, compared to revenues of $120,371,000 for the first quarter of fiscal 2009.
- Operating income was $18,975,000 for the first quarter of fiscal 2010, compared to operating income of $23,947,000 for the same period in the prior year.
- Net earnings were $10,218,000 or $0.34 per diluted common share for the first quarter of fiscal 2010, compared to net earnings of $12,433,000 or $0.42 per diluted common share for the first quarter of fiscal 2009.
Read more:
