Obtains 30-day extension on mortgage pool, continues negotiations for longer-term solution
The Hongkong and Shanghai Hotels, Limited (HSH), a hotel and property company listed on the Hong Kong Stock Exchange (00045), announced that its wholly-owned subsidiary, HSH Financial Services Limited, has signed a HK$1.225 billion Four Year Term Loan Facility with a group of seven international banks. The Facility, which matures in 2013, is guaranteed by HSH.
Red Roof Inns Inc, the discount hotel chain with nearly 350 properties, became the latest in the downtrodden hospitality industry to default on debt made during the credit-driven real estate boom, the company confirmed on Tuesday.
Company to Report Second Quarter 2009 Earnings on July 29, 2009
Red Lion Hotels Corporation (NYSE:RLH) today announced that it anticipates being added to the U.S. small-cap Russell 2000(R) Index based upon preliminary disclosures by the index.
Lodging Capital Partners, LLC (‘LCP’) announces Jennifer Collins joins the company as Senior Vice President. Ms. Collins’ primary role with LCP will be to assist the company as it adds value to properties through aggressive asset management.
At their Annual Meeting on May 13, 2009, Accor shareholders set the 2008 dividend at EUR1.65 per share and approved a dividend reinvestment plan. The dividend was paid on a total of 219,894,523 shares.
Adjusted EBITDA declined by 35.5% from $2.2 million to $1.4 million
Through nine months, Resort Reported EBITDA of $206.5 million decreased $51.3 million, or 19.9%, from the prior year period.
The global recession and weak travel demand means more empty rooms and downward pressure on room rates, both in London and New York.