Lodging

LA Hotels Offer 10,000 Rooms as Temporary Shelter for Those in Need

Friday, March 27, 2020 - 5:07pm

More than 115 hotels throughout Los Angeles County have volunteered their hotels to the County Public Health Department, providing access to more than 10,000 rooms as temporary shelter to support the COVID-19 response, the Hotel Association of Los Angeles announced today.

Key Points: 
  • More than 115 hotels throughout Los Angeles County have volunteered their hotels to the County Public Health Department, providing access to more than 10,000 rooms as temporary shelter to support the COVID-19 response, the Hotel Association of Los Angeles announced today.
  • The unprecedented response by the Los Angeles hotel industry represents approximately 15 percent of all Los Angeles hotel rooms, which are available to protect and isolate population segments vulnerable to the coronavirus outbreak.
  • HALA and member hotels have been working with Mayor Garcetti, City Councilmembers, County Supervisors and, importantly, County officials to determine how hotel rooms can best be deployed.
  • Our hotel rooms are available now and we know our public officials are working hard to assure the well-being of all Angelenos and individuals who may need temporary shelter, Rozman added.

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.

Chatham Lodging Trust Implements Plan to Mitigate COVID-19 Impact

Thursday, March 26, 2020 - 8:10pm

Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 134 hotels wholly or through joint ventures, today announced actions it is taking to address the operating and financial impact of the COVID-19 (coronavirus) pandemic.

Key Points: 
  • Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 134 hotels wholly or through joint ventures, today announced actions it is taking to address the operating and financial impact of the COVID-19 (coronavirus) pandemic.
  • This also enables us to generate the highest operating margins of all lodging REITs and to remain open at historically low occupancy levels, Fisher concluded.
  • Chatham has taken aggressive actions to mitigate the operating and financial impact of the COVID-19 (coronavirus) pandemic.
  • Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels.

Colony Capital Names Severin White as Head of Public Investor Relations

Thursday, March 26, 2020 - 2:00pm

Colony Capital, Inc. (NYSE: CLNY) (Colony or the Company) today announced the appointment of Severin White as Managing Director, Head of Public Investor Relations, effective immediately.

Key Points: 
  • Colony Capital, Inc. (NYSE: CLNY) (Colony or the Company) today announced the appointment of Severin White as Managing Director, Head of Public Investor Relations, effective immediately.
  • With more than 25 years of investment management experience in both private equity and public markets, Severin brings invaluable expertise and leadership to our investor relations program, said Marc Ganzi, Colony Capitals CEO-elect.
  • Mr. White said, Colony Capital is a dynamic business with compelling opportunities ahead.
  • He joins Colony Capital from Niagara Share LLC, a financial advisory practice serving family office investors focused on both public and private investments.

Shift4 Payments Launches Shift4Cares.com to Raise Over $200 Million for Small Businesses and Highlight Economic Impact of COVID-19

Thursday, March 26, 2020 - 2:00pm

Shift4 securely processes over 3.5 billion transactions annually for more than 200,000 businesses nationwide, representing over $200 billion in payments each year.

Key Points: 
  • Shift4 securely processes over 3.5 billion transactions annually for more than 200,000 businesses nationwide, representing over $200 billion in payments each year.
  • This amount of transaction data is a powerful tool in assessing the impact of COVID-19 on business communities across the country.
  • Nationally, restaurant transactions declined from 42 million to 11 million during this time period, while hotel transactions declined from 144 million to 20 million.
  • Shift4 is working to raise over $200 million for the small business community through this gift card initiative with Shift4 donating up to $10 million of the companys own money.

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.

Friedlander Group Announces a 15% Dividend Paid to the Members of The Social Services Group of New York Workers’ Compensation Safety Group #585

Wednesday, March 25, 2020 - 5:19pm

Friedlander Group, the leader in workers compensation, announces a 15% dividend paid to members of the Social Services Group of New York Workers Compensation Safety Group #585*.

Key Points: 
  • Friedlander Group, the leader in workers compensation, announces a 15% dividend paid to members of the Social Services Group of New York Workers Compensation Safety Group #585*.
  • The combination of the 25% group discount and 15% dividend resulted in social service group members saving over 36% on their workers compensation insurance.
  • In addition to the Safety Groups, Friedlander Groups Workers Care program specializes in workers compensation for clients that struggle with safety or are outside of the mentioned industries.
  • Friedlander Group reduces premiums through expert Claims Solutions , Self-pay techniques, Fraud Prevention Services , Audit Services , Safety Services, Unique Reporting and Underwriting Services.

OYO Hotels & Homes Offers Free Stays to Medical Personnel Fighting the Spread of COVID-19

Tuesday, March 24, 2020 - 10:47pm

OYO Hotels & Homes is opening the doors to its hotels and offering free stays to doctors, nurses and other medical first responders who are helping in the fight against Coronavirus (Covid-19).

Key Points: 
  • OYO Hotels & Homes is opening the doors to its hotels and offering free stays to doctors, nurses and other medical first responders who are helping in the fight against Coronavirus (Covid-19).
  • All of us at OYO are grateful for the bravery and sacrifices all the medical personnel are making to save lives and stop the spread of Covid-19, said Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes.
  • To all the medical personnel fighting this disease on the front lines, we welcome you and we cant be grateful enough, concluded Agarwal.
  • ABOUT OYO HOTELS & HOMES:
    Opening our doors in 2013, OYO Hotels & Homes, a young hotel startup, today is the worlds leading chain of hotels and homes.

Marcus Hotels & Resorts Announces Updates to Current Operations

Tuesday, March 24, 2020 - 9:00pm

Marcus Hotels & Resorts , a division of The Marcus Corporation (NYSE:MCS), is temporarily closing a select number of properties across its portfolio.

Key Points: 
  • Marcus Hotels & Resorts , a division of The Marcus Corporation (NYSE:MCS), is temporarily closing a select number of properties across its portfolio.
  • In light of these challenges and our current business levels, we have made the difficult decision to close a select number of properties across our portfolio, said Michael R. Evans, President of Marcus Hotels & Resorts.
  • Marcus Hotels & Resorts owns and/or manages 20 hotels, resorts and other properties in the U.S.
  • The companys distinctive portfolio includes city-center meeting hotels, upscale resorts, historic properties, and premium branded and independent first-class hotels.

Wynn Resorts Statement Regarding Reduction of Executive Salaries

Tuesday, March 24, 2020 - 8:00pm

The Company's CEO, Matt Maddox, agreed to forego 100% of his salary in exchange for shares for the remainder of the year.

Key Points: 
  • The Company's CEO, Matt Maddox, agreed to forego 100% of his salary in exchange for shares for the remainder of the year.
  • The cash savings arising from the executive salary reductions will be used to offset ongoing employee payroll and other expenses.
  • Wynn Resorts, Limited is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index.
  • Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Encore Boston Harbor (encorebostonharbor.com), Wynn Macau (wynnmacau.com), and Wynn Palace, Cotai (wynnpalace.com).