Danielp Hansen News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Stay updated with breaking news from Danielp hansen. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Top News In Danielp Hansen Today - Breaking & Trending Today
Summit Hotel Properties, Inc. (NYSE: INN) (“the Company”) announced today that on May 13, 2016, it completed the sale of the Holiday Inn Express & Suites located in Irving (Las Colinas), Texas containing 128 guestrooms for a total sales price of $10.5 million. “We are very pleased to have sold this hotel at a price we believe validates the benefits of premium select-service hotels. With RevPAR nearly 30 percent below our portfolio’s average, this sale demonstrates our commitment to enhancing portfolio quality,” said President and Chief Executive Officer, Daniel P. Hansen. The sales price represents a capitalization rate of 7.7 percent on the hotel’s net operating income, including planned capital improvements, for the trailing twelve months ended March 31, 2016. The Company estimates the hotel would have contributed approximately $0.2 million and $0.6 million of EBITDA from the sale date through the second quarter and full year 2016, respectively. The hotel was ....
• Completion of the previously announced acquisition of the 129-guestroom Homewood Suites by Hilton Aliso Viejo-Laguna Beach; • Acquisition of the 152-guestroom Hyatt Place Phoenix-Mesa; • Sale of the 150-guestroom Hyatt Place Atlanta Airport North; and • Receipt of proceeds from Hospitality Investors Trust, Inc. for the repayment of a $27.5 million loan. “We are thrilled with our ability to source unique acquisitions and the continued success of our capital recycling program,” said Chairman, President and Chief Executive Officer, Daniel P. Hansen. “In addition to the increased earnings potential, the latest transactions continue to enhance our diverse portfolio of premium-branded hotels. Together, the two acquisitions represent a RevPAR premium of 33.4 percent over the sold hotel,” commented Mr. Hansen. ....