Starwood Hotels & Resorts reports first quarter 2015 financial results.
First Quarter 2015 Highlights
- Excluding special items, EPS from continuing operations was $0.65. Including special items, EPS from continuing operations was $0.58.
- Adjusted EBITDA was $274 million.
- Excluding special items, income from continuing operations was $110 million. Including special items, income from continuing operations was $99 million.
- Worldwide Systemwide REVPAR for Same-Store Hotels increased 5.2% in constant dollars (1.9% in actual dollars) compared to 2014. Systemwide REVPAR for Same-Store Hotels in North America increased 6.8% in constant dollars (5.8% in actual dollars).
- Management fees, franchise fees and other income decreased 3.2% compared to 2014. Core fees increased 1.6% compared to 2014.
- Earnings from Starwood’s vacation ownership and residential business increased approximately $4 million compared to 2014.
- During the quarter, the Company signed 33 hotel management and franchise contracts, representing approximately 6,000 rooms, and opened 20 hotels and resorts with approximately 3,200 rooms.
- During the quarter, the Company paid a quarterly dividend of $0.375 per share and repurchased 1.6 million shares at a total cost of $123 million and a weighted average price of $78.29 per share.
- On April 16, 2015, the Company introduced Tribute Portfolio, its tenth brand and second collection of independent hotels.
To view full first quarter financial results please visit:
Hilton Worldwide Exceeds High End of Guidance for First Quarter 2015 Adjusted EBITDA; Raises Full Year Outlook
Hilton Worldwide Holdings Inc. (“Hilton,” “Hilton Worldwide” or the “Company”) (NYSE: HLT) today reported its first quarter 2015 results and raised its full year 2015 outlook. Highlights include:
- EPS was $0.15 for the first quarter, a 25 percent increase from the same period in 2014; EPS, adjusted for special items was $0.12
- Net income attributable to Hilton stockholders for the first quarter was $150 million, a 22 percent increase from the same period in 2014
- Adjusted EBITDA for the first quarter increased 18 percent from the same period in 2014 to $599 million and Adjusted EBITDA margin increased 320 basis points
- System-wide comparable RevPAR increased 6.6 percent for the first quarter on a currency neutral basis from the same period in 2014
- Management and franchise fees for the first quarter increased 18 percent from the same period in 2014 to $391 million
- Gross operating profit margins for U.S. comparable owned and operated hotels increased over 120 basis points for the first quarter compared to the same period in 2014
- Opened more than 8,000 rooms in the first quarter
- Approved more than 23,000 new rooms for development during the first quarter, growing its development pipeline to 1,432 hotels, consisting of 240,000 rooms, as of March 31, 2015
- Reduced long-term debt by $225 million during the first quarter; additional $100 million voluntary prepayment of senior secured term loan facility in April 2015
- Entered into an agreement to sell Hilton Sydney for A$442 million Australian Dollars in a tax-efficient manner; upon closing, plan to use proceeds, net of transaction costs, to further reduce long-term debt
- Entered into an agreement to acquire what is currently the Cypress Hotel in Cupertino, California for $112 million, reinvesting the last portion of the Waldorf Astoria New York sale proceeds
- Increased outlook for full year Adjusted EBITDA to between $2,810 million and $2,870 million
To view full first quarter financial results please visit:
http://ir.hiltonworldwide.com/files/doc_news/Q1-2015-Earnings-Release-B-r12_v001_t7a7t3.pdf
Wynn Resorts, Limited Reports First Quarter 2015 Results
Net revenues for the first quarter of 2015 were $1,092.2 million, compared to $1,513.6 million in the first quarter of 2014. The decline was the result of a 37.7% net revenue decrease from our Macau Operations, partially offset by a 1.6% increase in net revenues from our Las Vegas Operations. Adjusted property EBITDA (1) was $323.0 million for the first quarter of 2015, a 34.7% decrease from $494.6 million in the first quarter of 2014.
On a US GAAP basis, net loss attributable to Wynn Resorts, Limited for the first quarter of 2015 was $44.6 million, or $0.44 per diluted share, compared to net income attributable to Wynn Resorts, Limited of $226.9 million, or $2.22 per diluted share, in the first quarter of 2014.
Adjusted net income attributable to Wynn Resorts, Limited (2) in the first quarter of 2015 was $70.5 million, or $0.70 per diluted share (adjusted EPS), compared to an adjusted net income attributable to Wynn Resorts, Limited of $236.7 million, or $2.32 per diluted share, in the first quarter of 2014.
Wynn Resorts also announced today that the Company has approved a cash dividend of $0.50 per common share, a reduction from its previous quarterly dividend. This dividend will be payable on May 21, 2015, to stockholders of record on May 11, 2015.
To view full first quarter financial results please visit:
http://phx.corporate-ir.net/phoenix.zhtml?c=132059&p=irol-newsArticle&ID=2041073
FelCor Reports First Quarter 2015 Earnings
• Portfolio Repositioning Continues to Provide Strong Growth
• Same-store Adjusted EBITDA Increased 37.7%
First Quarter Highlights
- Same-store RevPAR increased 13.1%; core RevPAR increased 13.5%.
- Adjusted FFO per share improved to $0.14 from $0.03 in the same quarter in 2014.
- Adjusted EBITDA increased by $8.8 million to $49.9 million; same-store Adjusted EBITDA increased by $13.6 million, or 37.7%, to $49.7 million.
- Net loss per share improved $0.18 to $0.02 compared to the same quarter in 2014.
- Opened The Knickerbocker on February 12, a luxury boutique hotel in Manhattan’s Times Square.
- Sold three non-strategic hotels for gross proceeds of $93.1 million in the quarter and four additional non-strategic hotels (two with a non-refundable deposit) are expected to be sold during the second quarter of 2015.
- On April 14, called for redemption of $170 million of 8% Series C Cumulative Preferred Stock.
To view full first quarter financial results please visit:
http://phx.corporate-ir.net/phoenix.zhtml?c=118512&p=irol-newsArticle&ID=2041464
