Hotel Stock Index
The Baird/STR Hotel Stock Index was at 1587.06 at 10:15 a.m. today. One week ago, the Index was at 1715.27.
Visit www.HotelStockIndex.com for additional index data, including updated hotel stock prices.
The Baird/STR Hotel 15 Index is a co-branded index created by Robert W. Baird & Company and STR. The Index was set to equal 1,000 on 1 January 2000 as its starting point. The Index reached its peak on 2 February 2007 when it stood at 2,845. The Index’s lowest point occurred on 6 March 2009 when it dropped to 477.
Whitbread PLC, owner of Premier Inn, released results for the financial year to 4 March 2010. Regional RevPAR was down 6.4 percent during the year, compared to a decline of 8.5 percent in the regional budget hotel sector and a decline of 9.6 percent across the whole regional hotel market.
Profit after tax and exceptional items for the year was £160.0 million (US$249.5 million), compared with £90.3 million during fiscal year 2008/2009 (US$135.2 million).
Premier Inn is expected to increase room numbers during 2010/2011 by more than 2,500 rooms (+6 percent) and target a 32-percent increase to 55,000 rooms in the U.K. by the end of 2014/2015, as well as international expansion.
FelCor Lodging Trust
FelCor Lodging Trust (NYSE: FCH) closed the sale of its previously announced public offering of 27,500,000 shares of its common stock at US$5.50 per share. In addition, the underwriters have exercised in full their option to purchase an additional 4,125,000 shares of common stock, resulting in the sale of a total of 31,625,000 shares. The net proceeds from the offering, after underwriting discounts and commissions, were approximately US$167 million.
InnKeepers USA Trust
Innkeepers USA Trust suspended payment of its 2010 second quarter dividend on its 8 percent Series C Cumulative Redeemable Preferred Shares.
Innkeepers’ board of trustees will continue to review future quarterly dividends on the 8 percent Series C Cumulative Redeemable Preferred Shares based on financial and economic conditions and other appropriate factors.