Archive: Hospitality

Marriott, Host Shares Gain on Earnings Report

Marriott International shares gained more than 12 percent today, closing at $22. Though it reported a first-quarter loss, adjusted earnings beat the Street's expectations, so its stock rose. But not as much as those of Host Hotels & Resorts, also based in Bethesda, whose shares gained almost 17 percent...

By Terri Rupar | April 23, 2009; 04:59 PM ET | Comments (1)

Hilton Leases In Tysons

By Dana Hedgpeth Hilton Hotels has signed a lease for roughly 100,000 square feet of office space at Park Place II in Tysons Corner. The 300,000-square-foot building, owned by B.F. Saul, was built last year and 17 percent of it is leased, according to CoStar Group, a real estate research...

By Dan Beyers | March 11, 2009; 11:56 AM ET | Comments (0)

Morning Brief: Inauguration Business Parties On

The city's bartenders must be happy. For four days in January (you guessed it, inauguration weekend) bars in the District will be open 24 hours a day. Staff writer David Nakamura reports that, under emergency legislation approved by the D.C. Council on Tuesday, any District establishment with a liquor...

By Alejandro Lazo | December 3, 2008; 08:53 AM ET | Comments (0)

Newest Marriott Opens at National Harbor

By Anita Huslin Five scissor snips to a long red ribbon, and the Washington region's newest Marriott hotel officially opened yesterday in Prince George's County. The 160-room Residence Inn by Marriott National Harbor was built by a partnership of African American businessmen that includes Thomas A. Moorehead, chairman of BMW/MINI...

By Terri Rupar | September 19, 2008; 11:30 AM ET | Comments (1)

Early Briefing: Bob Johnson's Foray Into Liberia

* Typically, you might expect hotel owner Robert L. Johnson to leave the spiel about bed linens and room decor to his marketing types. Robert Johnson, who is building a resort in Liberia, says African Americans "have a responsibility" to support the West African nation. (Rlj Cos.) But here he...

By Dan Beyers | July 25, 2008; 07:02 AM ET | Comments (0)

Host Hotels Says Cash Flow Up; Plans Stock Buyback

Bethesda's Host Hotels & Resorts said a key measure of cash flow increased 10 percent in the first quarter and it announced plans to buy back $500 million of its common stock. The lodging company, which operates as a real estate investment trust, reported that a measure of cash flow...

By Dan Beyers | April 23, 2008; 07:48 AM ET | Comments (0)

Where Do Choice Directors Stay?

By Mike Rosenwald Footnoted.org is a wonderful blog that digs deep into company filings with the Securities and Exchange Commission, shining a light on things that executives hope we journalists don't find. This week, an entry caught my attention: "Why won't Choice's directors stay at their hotels?" Choice Hotels is...

By Terri Rupar | April 10, 2008; 01:55 PM ET | Comments (2)

"Awakening" Reaction

Anita Huslin's post Wednesday on the moving of the sculpture "The Awakening" from Hains Point to the National Harbor development in Prince George's County drew plenty of comments. (You can also check out her full story of the move, with lots of photos and a video here.) Most expressed disappointment,...

By Terri Rupar | February 21, 2008; 12:00 PM ET | Comments (2)

Moving Day For "The Awakening"

By Anita Huslin After resting in place for nearly 30 years -- if that can be said of a figure that eternally struggles to climb from the earth -- the cast aluminum sculpture known as "The Awakening" left its home Wednesday from the southernmost tip of Washington's Hains Point. Workers...

By Dan Beyers | February 20, 2008; 12:10 PM ET | Comments (0)

Ground Broken on Salamander Resort in Middleburg

There she was, braving a downpour in muddy boots, pushing a gold shovel into a 340-acre Virginia meadow where equestrians like Pamela Harriman and Jacqueline Kennedy Onassis once rode. Sheila Johnson broke ground Thursday morning on her $130 million Salamander Resort & Spa, a luxury inn destined to be the...

By Mike Shepard | October 25, 2007; 05:33 PM ET | Comments (0)

Marriott's Third-Quarter Profit Slips 7 Percent

Marriott International reported a 7 percent decline in third-quarter earnings driven by falling profit in the Bethesda hotel operator's timeshare dvision and higher tax rates. See the company's statement. The company said it earned $131 million (33 cents a share) for the three months ended Sept. 7, down from $141...

By Mike Shepard | October 4, 2007; 01:46 PM ET | Comments (0)

Marriott Expands Share Buyback Program

Marriott International said today the company expanded its stock buyback program by 40 million shares. The Bethesda company now plans to repurchase up to 51 million of the 403.8 million shares outstanding. Since 2002, Marriott has repurchased 181 million shares for about $5.6 billion, the company said in a statement....

By Mike Shepard | August 2, 2007; 01:53 PM ET | Comments (0)

Sheila Johnson Adds Fla. Golf Resort to Portfolio

Black Entertainment Television co-founder Sheila C. Johnson, who has ownership stakes in three Washington professional sports teams, yesterday added a PGA Tour championship golf course in Florida to her hospitality company's growing portfolio. Johnson's Salamander Hospitality bought the the Innisbrook Resort and Golf Club in Tampa for $35 million from...

By Mike Shepard | July 16, 2007; 06:31 PM ET | Comments (0)

Highland Hospitality Shareholders Approve Takeover

Shareholders of Highland Hospitality, a real estate investment trust that specializes in lodging properties, today approved the company's purchase by JER Partners, the McLean-based private equity investment unit of J.E. Robert Companies. See Highland's news release. The all-cash deal is valued at $2 billion, which includes the assumption of $260...

By Mike Shepard | July 13, 2007; 12:32 PM ET | Comments (0)

Marriott's Second-Quarter Earnings Up 11 Percent

Marriott International is reporting today an 11 percent increase in second-quarter profit driven by strong demand for rooms and rising revene from fees charged to franchisee hotels. The Bethesda hospitality company, which operates nearly 2,900 hotels worldwide, said in a statement that it earned $207 million for the period ended...

By Mike Shepard | July 12, 2007; 10:24 AM ET | Comments (0)

Gate Gourmet Buys deSter

Reston's Gate Gourmet, the airline catering giant, is buying deStar Holding BV of Amsterdam, a large supplier of cutlery, chinaware and airline amenity kits. In a deal announced early Monday, the company said private equity fund group EQT has owned deSter since 1999. DeSter has operations on three continents and...

By Dan Beyers | July 9, 2007; 06:11 AM ET | Comments (0)

Local Food

Here's a shoutout to the Post's Food section today, which is just chock full of local restaurant news told in a sophisticated big city way. Today, for instance, we learn that Tracy O'Grady, the exec chef at Arlington's Willow, is getting raves for her new signature dish...a miniature rack of...

By Dan Beyers | July 4, 2007; 08:43 AM ET | Comments (0)

Hotel Takeovers?

The WSJ has a piece quoting analysts saying they expect the market to remain hot for hotel company buyouts, which could make for an interesting summer in the Washington area, where we are home to several large operators. "So far this year, five publicly traded hotel companies in the U.S....

By Dan Beyers | June 20, 2007; 07:20 AM ET | Comments (0)

 
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