The Hotel Highlands at Five Points South, an Ascend Collection hotel Birmingham, Ala.
The Hotel Highland at Five Points South, an Ascend Collection hotel is situated in the historic Southside within walking distance of Birmingham's premier restaurants and entertainment district.
The closing of share offerings by Pebblebrook Hotel Trust and Sunstone Hotel Investors highlight this week’s roundup of public hotel company financial news.
Read more on hotelnewsnow.com http://www.hotelnewsnow.com/articles.aspx/5315/Stock-update-Pebblebrook-Shangri-La-Sunstone
Baird/STR Hotel Stock Index
The Baird/STR Hotel Stock Index ended March with a 4.9% decrease to 2,294. During the first quarter of 2011 the index was down 3%. The Hotel Stock Index ended 2010 at 2,364.
Randy Smith, chairman and co-founder of STR, said fuel prices and summer travel could have a further affect on the Index. Smith and David Loeb, senior analyst at Baird, said guidance from companies such as Marriott International helped fuel the Index’s March decline.
The Baird/STR Hotel Stock Index closed Thursday at 2214.52. It was at 2224.71 as of 10 a.m. (eastern) today.
Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (NYSE: PEB) of Bethesda, Maryland, announced it closed its offering of 10.93 million shares at a price of US$21.60, less the underwriting discount. The offering included 1.43 million shares pursuant to the exercise of the underwriters’ overallotment option.
Net proceeds, including the overallotment option, are approximately US$226.3 million, after deducting the underwriting discount and other estimated offering-related costs. The proceeds will be used to invest in hotel properties.
The blind pool real-estate investment trust’s stock closed Thursday at US$21.60 per share, up 6.3% year-to-date.
Shangri-La Asia Limited
Hong Kong-based Shangri-La Asia Limited (HKG: 0069) is planning to issue a US$500-million convertible bond issue, according to Reuters. Proceeds would help fund spending and working capital.
The company’s stock price closed Friday at HKD20.75 per share (US$2.67 per share) and is up nearly 2.0% year-to-date.
Sunstone Hotel Investors
Sunstone Hotel Investors (NYSE: SHO) of Aliso Viejo, California, announced the closing of its offering of 4.6 million shares of 8% Series D Cumulative Redeemable Preferred Stock for US$115 million. The closing included the full exercise of the underwriters’ overallotment option.
The REIT’s stock price closed Thursday at US$9.85 per share and is down 4.7% year-to-date.
The legacy of the Durst, Olshan and Silverstein families is being led into the 21st Century by three of New York's leading ladies of commercial real estate.
Silverstein oversees the firm’s hotel and residential real estate portfolio, including current major projects such as rebuilding of the World Trade Center and the Four Seasons Hotel and Residences in Lower Manhattan
Read more http://www.globest.com/news/1903_1903/newyork/309646-1.html
And 3,000 new rooms are in construction in Manhattan alone -- a total that rises to more than 5,200 including projects planned but not yet out of the ground.
Remarkably, the run-up in rooms occurred even as some large older properties were demolished (The Drake), significantly downsized (The Plaza) or converted to apartments (The Stanhope).
A $96.6 million loan backed by Manhattan’s Roosevelt Hotel, a high-end property near Grand Central Terminal, was put on watch list by its master servicer this month, according to data compiled by Bloomberg.
Article Source: http://www.bloomberg.com/news/2011-09-15/loan-backed-by-new-york-s-roosevelt-hotel-on-servicer-watch-list.html
http://www.theroosevelthotel.com
The master servicer is Wells Fargo & Co. and the sponsor is PIA Investments Ltd., the investment arm of Pakistan International Airlines, Bloomberg data show. The loan matures on Nov. 9 and was added to the watch list on Sept. 9, according to Morningstar Inc. (MORN)’s Structured Credit Ratings business.
Revenue from the hotel’s 1,015 rooms dropped to $57.7 million in 2009 from $81 million the previous year because of the slowdown in the economy and a decline in business travel demand, Morningstar said in an e-mailed note. Net cash flow decreased to $7.8 million in 2009 and 2010 from $30.1 million in 2008, according to Chicago-based Morningstar.
“We are concerned by the dramatic drop in reported net cash flow,” Morningstar said in the note.
Associated Press, 08.08.11, 12:32 PM EDT 
NEW YORK --
Shares of hotel real estate investment trusts dropped on Monday as an analyst lowered his rating for Summit Hotel Properties Inc. partly because of concerns about the spending of the middle class.
Summit Hotels, which went public in February, is a hotel investment trust with properties in 19 states. Its hotels span upscale and more mainstream lodgings, and include chains such as Marriott, Holiday Inn, Hilton and Hampton Inn.
Dennis Forst of KeyBanc Capital Markets said in a client note that Summit has a good geographic reach, with properties mostly in the Midwest and South.
Opening in Summer 2013, Four Points by Sheraton Financial District Will Be Brand’s Fourth Hotel in New York City
Guests Can Enjoy Spectacular Views from Hotel’s Rooftop Lounge
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced plans to bring its fast-growing Four Points brand to the epicenter of New York City’s bustling downtown financial district. Four Points by Sheraton Financial District is
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