HA Daily
August 1st 2010
InterContinental signs Osaka hotel deal
NH Hoteles doubles EBITDA
Mandarin enjoys occupancy boost
Latest HA Perspective
Issue 9 : July 29th 2010
Debating double dip
The double dip debate is dominating investor thoughts over the summer, as earlier optimism about a sharp-recovery makes way for wider worries such as sovereign defaults.
Trading has rebounded strongly, and some operators are already talking about a pronounced bounce, but with government cuts and still constrained lending, it is probable that a hard road lies ahead.
Rezidor reports rate growth
Rezidor said it had seen a “marginal” increase in rate, after reporting second quarter revpar increase by 6.8% to Eu67.1 (£56.6).
The increase was largely drive by like-for-like occupancy, which rose by five percentage points to 67.7%. Rate fell by 1.2%, with the group commenting that occupancy development accelerated in the latter part of the quarter and the rate decline slowed down as the quarter progressed.
Marriott began rate increases in May
Marriott International’s second quarter results raised hopes of a nascent recovery in the US lodging sector, with the group reporting net income up by 42% on the year to $119m (£79m), up from $37m in Q2 2009.
The previous year’s adjusted results excluded $57m pre-tax in restructuring costs and other charges. Operating income rose by 46% to $226m, with Ebitda up by 26% to $278m.
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