Hilton Worldwide

Hilton Corporate Response to COVID-19

Thursday, March 26, 2020 - 9:10pm

Hilton has also activated its Team Member Assistance Fund to help both those Hilton Team Members who have suffered a direct impact, or have an impacted family member, from COVID-19.

Key Points: 
  • Hilton has also activated its Team Member Assistance Fund to help both those Hilton Team Members who have suffered a direct impact, or have an impacted family member, from COVID-19.
  • Hilton Team Members have been making points (converted to cash) and monetary donations to the Fund since the crisis began in China.
  • The COVID-19 pandemic has been tough on the travel industry, but Hilton continues to deliver hospitality even during this crisis.
  • Hilton also has made it easy for Hilton Honors members to donate their points (converted to cash) to these worthwhile organizations.

Park Hotels & Resorts Inc. Provides Additional Update on COVID-19 Measures

Thursday, March 26, 2020 - 12:12pm

Parks remaining hotels are currently expected to remain open under reduced operations so long as incremental savings are achieved.

Key Points: 
  • Parks remaining hotels are currently expected to remain open under reduced operations so long as incremental savings are achieved.
  • Our lenders have been invaluable partners to us through this time and we thank them for their ongoing confidence in Park.
  • Park Hotels & Resorts Inc. (NYSE: PK) is the second largest publicly traded lodging real estate investment trust with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value.
  • Parks portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms located in prime U.S. markets with high barriers to entry.

UNITE HERE Local 5 Details Its Concerns About Preserving the Hilton Brand Value Amid Timeshare Acquisition Rumors

Wednesday, March 18, 2020 - 6:45pm

UNITE HERE Local 5 released a report detailing potential risks to the Hilton hotel brand value.

Key Points: 
  • UNITE HERE Local 5 released a report detailing potential risks to the Hilton hotel brand value.
  • UNITE HERE Local 5s report looks at risk to the brand value in a scenario where Apollo Global Management acquired the Hilton-branded timeshare company and merged it into its Diamond Resorts timeshare affiliate.
  • UNITE HERE Local 5s report provides important information for anyone with a stake in the value of the Hilton trademark and brand.
  • UNITE HERE Local 5 represents hotel workers at the famed Hilton Hawaiian Village Resort in Waikiki, Hawaii, which includes Hilton Grand Vacations timeshare units.

SOTHERLY HOTELS INC. PROVIDES UPDATE ON OPERATIONS RELATED TO COVID-19; ANNOUNCES SUSPENSION OF COMMON STOCK AND PREFERRED DIVIDENDS

Tuesday, March 17, 2020 - 10:30pm

Corporate G&A has been significantly decreased, including immediate reductions in compensation and benefits for all corporate staff.

Key Points: 
  • Corporate G&A has been significantly decreased, including immediate reductions in compensation and benefits for all corporate staff.
  • As part of this change, the Companys board of directors has agreed to waive all directors fees for the quarter.
  • As approved by its board of directors, the Company is announcing the suspension of its regular quarterly cash common stock dividends in order to preserve liquidity and ensure future success.
  • The Company owns hotels that operate under the Hilton Worldwide, Marriott International, Inc., and Hyatt Hotels Corporation brands, as well as independent hotels.

Park Hotels & Resorts Inc. Takes Action to Mitigate COVID-19 Impact

Monday, March 16, 2020 - 10:00am

Park and its hotel management companies will be temporarily suspending operations at certain hotels.

Key Points: 
  • Park and its hotel management companies will be temporarily suspending operations at certain hotels.
  • If additional funds are required, Park intends to borrow further from the remaining $650 million of available liquidity on its credit facility.
  • Park Hotels & Resorts Inc. (NYSE: PK) is the second largest publicly traded lodging real estate investment trust with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value.
  • Parks portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms located in prime U.S. markets with high barriers to entry.

Park Hotels & Resorts Inc. Withdraws 2020 Outlook Due to Increased Uncertainty About Scope of COVID-19 Impact

Monday, March 9, 2020 - 10:41pm

Park Hotels & Resorts Inc. (NYSE: PK) (the Company or Park) today announced that it is has withdrawn its previously announced 2020 outlook amid growing concerns about the COVID-19 virus outbreak.

Key Points: 
  • Park Hotels & Resorts Inc. (NYSE: PK) (the Company or Park) today announced that it is has withdrawn its previously announced 2020 outlook amid growing concerns about the COVID-19 virus outbreak.
  • Since providing guidance nearly two weeks ago, Park has experienced a material increase in the number of corporate group cancellations.
  • Park Hotels & Resorts Inc. (NYSE: PK) is the second largest publicly traded lodging real estate investment trust with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value.
  • Parks portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms located in prime U.S. markets with high barriers to entry.

Sotherly Hotels Inc. Announces Impact From COVID-19

Monday, March 9, 2020 - 9:50pm

The Companys initial guidance issued on February 27, 2020 considered minimal impact from the COVID-19 outbreak.

Key Points: 
  • The Companys initial guidance issued on February 27, 2020 considered minimal impact from the COVID-19 outbreak.
  • Sotherly Hotels Inc. is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States.
  • The Company owns hotels that operate under the Hilton Worldwide, Marriott International, Inc., and Hyatt Hotels Corporation brands, as well as independent hotels.
  • Sotherly Hotels Inc. was organized in 2004 and is headquartered in Williamsburg, Virginia.

The St. Joe Company Announces Plans for a Homewood Suites by Hilton Hotel Adjacent to the New Panama City Beach Sports Complex in Panama City Beach, Florida

Monday, March 2, 2020 - 9:06pm

The St. Joe Company (NYSE: JOE) (St. Joe) today announces plans for a Homewood Suites by Hilton hotel (Homewood Suites) adjacent to the new Panama City Beach Sports Complex in Panama City Beach, Florida.

Key Points: 
  • The St. Joe Company (NYSE: JOE) (St. Joe) today announces plans for a Homewood Suites by Hilton hotel (Homewood Suites) adjacent to the new Panama City Beach Sports Complex in Panama City Beach, Florida.
  • St. Joe intends to build, own and operate the hotel off Chip Seal Parkway immediately south of the sports complex.
  • We are very excited to announce this new hotel project, said Patrick Murphy, Senior Vice President of Operations for St. Joe.
  • This hotel highlights the role projects like the Panama City Beach Sports Complex have in driving private sector investment in our community.

Sotherly Hotels Inc. Announces Promotions

Wednesday, February 26, 2020 - 2:31pm

As Director of New Media Marketing, she has helped oversee branding, marketing, and public relations efforts for Sotherly as well as its portfolio of hotels, including the Companys seven independent and soft-branded properties.

Key Points: 
  • As Director of New Media Marketing, she has helped oversee branding, marketing, and public relations efforts for Sotherly as well as its portfolio of hotels, including the Companys seven independent and soft-branded properties.
  • Sotherly Hotels Inc. is a self-managed and self-administered lodging REIT focused on the acquisition, renovation, upbranding and repositioning of upscale to upper-upscale full-service hotels in the Southern United States.
  • The Company owns hotels that operate under the Hilton Worldwide, Marriott International, Inc., and Hyatt Hotels Corporation brands, as well as independent hotels.
  • Sotherly Hotels Inc. was organized in 2004 and is headquartered in Williamsburg, Virginia.

All Suites Brands by Hilton Cap Off Decade of Success with More than 120 New Property Openings in 2019

Monday, February 24, 2020 - 2:00pm

The All Suites brands by Hilton, Embassy Suites by Hilton, Homewood Suites by Hilton and Home2 Suites by Hilton, end the decade with a footprint of more than 1,100 open properties across the U.S., Mexico, Canada and the Caribbean.

Key Points: 
  • The All Suites brands by Hilton, Embassy Suites by Hilton, Homewood Suites by Hilton and Home2 Suites by Hilton, end the decade with a footprint of more than 1,100 open properties across the U.S., Mexico, Canada and the Caribbean.
  • Embassy Suites by Hilton celebrated its 35th anniversary in 2019 and continued to demonstrate why it is a leader in its segment.
  • Throughout 2019, the All Suites brands by Hilton opened several notable properties including the Embassy Suites by Hilton Plainfield Indianapolis Airport, Embassy Suites by Hilton Grand Rapids Downtown, Homewood Suites by Hilton Chicago Downtown South Loop and Home2 Suites by Hilton Atlanta Marietta, in addition to those mentioned above.
  • Noteworthy signed deals this quarter include Embassy Suites by Hilton Panama City Beach, Homewood Suites by Hilton Montreal Downtown and Home2 Suites by Hilton Quebec City in Canada.