Marriott Vacations Worldwide announced that it has completed the previously announced acquisition of Welk Resorts, one of the largest independent timeshare companies in North America, for $485 million, including approximately 1.4 million MVW common shares of stock.
Huazhu Group Limited, a world-leading hotel group, announced its unaudited financial results for the fourth quarter and full year ended December 31, 2020.
The Kessler Collection is making history as the first U.S. luxury hotel group to accept cryptocurrency as a form of payment, and the first in the world to partner with BitPay, the worlds largest provider of Bitcoin and cryptocurrency payment services.
Extended Stay America, Inc. (“ESA”) and its paired-share REIT, ESH Hospitality, Inc. (“ESH”) (NASDAQ: STAY) announced today that it has signed a definitive agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital Group (“Starwood Capital”) for $19.50 per paired share in an all-cash transaction valued at approximately $6 billion.
Extended Stay America, Inc. (“ESA”) and ESH Hospitality, Inc. (NASDAQ:STAY) today announced consolidated results for the three months and full year ended December 31, 2020.
Hersha Hospitality Trust, owner of high-quality hotels in urban gateway markets and regional resort destinations, announced results for the full year and fourth quarter ended December 31, 2020.
NH Hotel Group has agreed the extension of its 236 million Syndicated Revolving Credit Facility from September 2021 until March 2023 with all the lenders.
Casai, an emerging markets hospitality brand that offers living spaces suited for the nomadic generation, has announced a $48 million Series A including $23 million in equity funding and up to $25 million in debt financing from TriplePoint Capital.
Swiss-Belhotel International continues to expand its management in response to the market and the impact of Covid-19
IAC has announced its accumulation of a 12% interest in global hospitality and entertainment company MGM Resorts International for an aggregate of approximately $1 billion.
As the travel industry faces some of the most important challenges in its history, CityHub (the hotel/hostel hybrid brand), has announced its financial collaboration with Dutch banks NIBC and ABN AMRO to kickstart its international expansion. The new funds will support and accelerate CityHub development plan, to grow its portfolio to ten locations.
Radisson expects to receive from its current shareholder, Aplite Holdings AB, an additional cash injection up to €100m in the form of a subordinated shareholder funding to cover the cash needs required for the ongoing operations during the COVID-19 crisis.
Royal Caribbean Cruises has announced that it has commenced a private offering of senior guaranteed notes to be issued by the company due 2023 for an aggregate principal amount of up to $1.0 billion and a concurrent private offering of senior convertible notes to be issued by the Company due 2023 for an aggregate principal amount of up to $1.0 billion.
Las Vegas Sands Corp has announced that its majority owned subsidiary, Sands China, has priced $800 million of 3.800% senior notes due 2026 and $700 million of 4.375% senior notes due 2030.
The COVID-19 pandemic is having a more severe and sustained financial impact on Marriott business than 9/11 and the 2008 financial crisis, combined. From the first warning signs of this unprecedented event, the company took a number of steps to adapt and strengthen its business including reducing costs significantly and improving its liquidity.
On March 30th, Airbnb announced the Superhost Relief Fund to provide grants to tenured hosts who are facing financial challenges because of travel disruption and other impacts of the global COVID-19 crisis. Today, Airbnb is providing an update to let the community know that they have awarded $7.4 million in grants to over 4,000 hosts around the world. Airbnb continues to send out invitations and review applications in order to distribute the remaining $9.6 million in the Fund.
Nashville is about to gain 468 hotel rooms next to the Music City Center convention facility now that financing is set and construction nears on the first Marriott tri-branded property in the U.S.
RLJ Lodging Trust has recently announced that it successfully refinanced over $1.0 billion of debt consisting of a $400.0 million unsecured term loan, a $400.0 million revolving credit facility, $148.5 million in secured loans provided by Wells Fargo Bank, N.A., and an $85.0 million secured loan provided by PNC Bank, N.A.
MGM Resorts International today announced the pricing of the initial public offering of 50,000,000 Class A common shares representing limited liability company interests by its subsidiary MGM Growth Properties LLC (MGP) at a public offering price of $21.00 per share for gross proceeds of $1.05 billion.
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