HotelNewsNow.com updates the performance of publicly traded hotel companies each week. Following are the updates for: Pebblebrook Hotel Trust and Whitbread PLC
Baird/STR Hotel Stock Index
TheBaird/STR Hotel Stock Index closed Thursday at 2115.67. It was at 2125.15 as of 10 a.m. (eastern) today.
Pebblebrook Hotel Trust
Bethesda, Maryland-based Pebblebrook Hotel Trust (NYSE: PEB) has made a US$152-million equity investment in a joint-ventured deal for six New York hotels. Denihan Hospitality Group is Pebblebrook’s joint venture partner.
The hotels are: the Affinia Manhattan; Affinia Shelburne; Affinia Dumont; Affinia 50; Affinia Gardens; and The Benjamin. The hotels are subject to approximately US$600 million in existing first mortgage and mezzanine debt. Denihan will continue to own the remaining 51% interest in the joint venture.
Pebblebrook’s stock price closed Thursday at US$19.60 per share, down 3.54% year to date.
Dunstable, England-based Whitbread PLC (LON: WTB) reported total sales for the 13-week period ending 2 June were up 9.2% year-over-year.
The Royal wedding and Easter, however, “adversely” affected the company’s business, chief executive Andy Harrison said in a statement.
• total room nights sold increased by 5.9% to 2.9 million;
• Premier Inn like-for-like occupancy edged up to 75.3% from 75.1% a year ago;
• Premier Inn like-for-like revenue per available room was up by 8.8% in London.
The company’s stock price closed Thursday at 1564 pence sterling per share (US$25 per share) and is down approximately 11.5% year to date.