Sunstone Reports 2012 4th Qtr and Full Year Results; Quarterly Net Income of $3.6 million Up Compar
February 1, 2013
Hotel Online News for the Hospitality Executive ALISO VIEJO, Calif., Feb. 19, 2013-- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) today announced results for the fourth quarter and year ended December 31, 2012. Fourth Quarter 2012 Operational Results (as compared to Fourth Quarter 2011) (1): Comparable Hotel RevPAR increased 3.6% to $137.02. Comparable Hotel EBITDA Margin increased by 120 basis points to 30.2%. Adjusted EBITDA increased by 6.6% to $68.2 million. Adjusted FFO per diluted share increased by 3.4% to $0.30. Income available to common stockholders was $3.6 million (vs. $43,000 in 2011). In...
Midas Hospitality Hires Stephanie Fischer as Director of Sales for the Comfort Inn – Central
February 1, 2013
Hotel Online News for the Hospitality Executive SAINT LOUIS, MO, February 20, 2013 – St. Louis-based hotel owner, operator and developer, Midas Hospitality announces the hiring of Stephanie Fischer, Director of Sales – Comfort Inn – Central West End, St. Louis, MO. Known for their recent portfolio growth and successful asset repositioning, Midas Hospitality, adds a sales specialist to the Comfort Inn – Central West End. Midas EVP & Principal – Sales & Marketing, Kurt Furlong, states "We are extremely pleased to add a seasoned hospitality veteran, Stephanie Fischer to the Comfort Inn – Central ...
Encrypted Search on the Rise and the Demise of SEO: Is Google Removing Keywords to Push Paid Traffi
February 1, 2013
Hotel Online News for the Hospitality Executive by Pedro Colaco February, 2013Encrypted search on the rise In 2011, when encrypted search was made default for logged in users there was a great concern over repercussions in SEO (Search Engine Optimization), as encrypted searches obliterate keywords. While the source of traffic is still "Google", keywords are "not provided" into any conversion analysis. This change is dramatic in terms of hard data. But at least the SEO community could get comfort from the prediction that it would only affect a very small percentage of overall searches. However, encrypted search has been on the fast track...
Plans Get Preliminary OK for Development of Two Hotels and a Restaurant at Huff Lane School Site in
February 1, 2013
Hotel Online News for the Hospitality Executive By David Ress, The Roanoke Times, Va.McClatchy-Tribune Regional News Feb. 20, 2013--The Roanoke City Council gave a preliminary green light Tuesday night to a plan to replace the shuttered Huff Lane Intermediate School with two hotels and a restaurant, over the strong objections of residents of the neighborhoods nearby. The council voted 4-3 for the plan of NDRA II, an affiliate of Williamsburg-based hotel operator HMP Properties, to build the project. But because fewer than five voted in favor, the council will reconsider the matter in a second reading on March 4. Neighbors urged the cou...
What is the Fate of Faded Spokane, Washington Hotel? Restoration of Ridpath’s Glory Days Adds to Mi
February 1, 2013
Hotel Online News for the Hospitality Executive By Shawn Vestal, The Spokesman-Review, Spokane, Wash.McClatchy-Tribune Regional News Feb. 15, 2013--For a long time, it seemed, no one wanted to touch the Ridpath. Now the historic hotel has more suitors than it can handle. Local developer Ron Wells leads a group of investors who say they have an agreement to purchase 75 percent of control of the hotel for a modern apartment project. Another man, Stephen Antonietti, has long said he wants to put a luxury destination resort there, and though his plans have not moved forward he says he's still optimistic. Now comes former Red Lion CEO and l...
New Jersey Senate President States the $2.4 billion Megaresort, Revel, Appears to be on Verge of Ba
February 1, 2013
Hotel Online News for the Hospitality Executive By Donald Wittkowski, The Press of Atlantic City, Pleasantville, N.J.McClatchy-Tribune Regional News Feb. 15, 2013--Senate President Stephen Sweeney warned Thursday that the $2.4 billion Revel megaresort appears "on the verge of bankruptcy and collapse" and he is demanding an explanation from New Jersey's top casino regulator. Sweeney outlined his concerns about Revel in a three-page letter to David Rebuck, director of the Division of Gaming Enforcement, the state agency that oversees Atlantic City's casino industry. In the letter, Sweeney criticizes Rebuck and the division for not keepin...
Atlantic City, New Jersey’ s Revel AC Reaches Agreement with a Majority of its Lenders with a Volun
February 1, 2013
Hotel Online News for the Hospitality Executive By Suzette Parmley, The Philadelphia InquirerMcClatchy-Tribune Regional News Feb. 20, 2013--The company that owns Revel, the lavish yet financially troubled Atlantic City casino that opened just 10 months ago, announced Tuesday night that it is filing for bankruptcy protection. In a statement just before 8 p.m., Revel AC Inc. said it had "reached an agreement with a majority of its lenders to significantly reduce its debt through . . . a prepackaged Chapter 11 bankruptcy filing." The move is intended to provide Revel with about $250 million in debtor-in-possession financing, with about $4...
Renaissance Washington, DC Downtown Hotel Completes $30 Million Guest Room Redesign; The 807-room H
February 1, 2013
Hotel Online News for the Hospitality Executive Washington, DC - February 22, 2013 - The Renaissance Washington, DC Downtown Hotel, situated at 999 9th Street at K Street, NW, announced the completion of the redesign of its 807 guest rooms and suites, a 30 million dollar investment by its owners, Sunstone Hotels. Renaissance Hotels is a lifestyle brand within the Marriott International, Inc. (NYSE: MAR) global portfolio. "We are thrilled with our fresh new room product. When our guests discover our new rooms, they will appreciate the essence of modern lifestyle elegance without sacrificing warmth and functionality," says Sharon Lockwood...
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