Related Newslog Items
November 6, 2009
Hyatt Hotels Corp. debuted on the New York Stock Exchange with stock priced at $25 per share and raised $950 million. The initial public offering covered 38 million shares of Class A common stock. By the end of trading Thursday, the stock price rose to nearly $28.
August 6, 2009
Hyatt Hotels Corp. during the six months ending in June generated net revenues of $1.6 billion, 19 percent lower than a year earlier, according to the company's S-1 filing with the U.S. Securities and Exchange Commission. Hyatt posted a net loss during the period of $36 million, down from a $173 million profit a year earlier. For full-year 2008, revenues of $3.8 billion topped the prior year's $3.7 billion, which followed three successive years of revenue growth, according to the document. Annual net earnings in that timeframe ranged from a low of $168 million in 2008 to a high of $336 million in 2005. As of June 2009, 54 percent of revenues came from owned and leased hotels as opposed to management, franchise and other fees. That percentage was roughly flat during the past five years.
August 6, 2009
Hyatt Hotels Corporation announced plans for an initial public offering. "The number of shares to be offered and the price range for the offering have not yet been determined," according to a company statement.
December 16, 2008
InterContinental Hotels Group named Jim Abrahamson president of the Americas region, effective Jan. 5, 2009. Previously
Global Hyatt Corp.'s head of development for the Americas, Abrahamson succeeds interim Americas president Richard Solomons, who assumed the position in July 2008 after Steve Porter passed away.
November 24, 2008
Avis Budget Group on Dec. 1 will raise car rental rates by $3 per day and $20 per week, affecting "all airport and selected off-airport rentals in the U.S. other than those covered by corporate account agreements or other special arrangements."
Major U.S. car rental firms recently discussed the need to raise rates to improve
financial performance.
November 7, 2008
Avis Budget Group opted not to increase to 80 percent its ownership stake in ground transportation company Carey International, according to
Business Travel News.
Avis Budget last year acquired 45 percent of Carey with an option to grow its share. The company today said its equity in Carey "did not have a meaningful impact" on its third-quarter
financial performance.
October 23, 2008
Alaska Airlines and Horizon Air parent
Alaska Air Group Inc.'s third-quarter financial performance reversed to a net loss of $86.5 million from a net profit of $81.8 million a year earlier. Excluding one-time items, the company achieved a net profit of $39.9 million, halved from the third-quarter 2008 figure.
July 21, 2008
Wyndham Worldwide completed its acquisition of U.S. Franchise Systems and the Microtel Inns & Suites and Hawthorn Suites hotel brands. It paid previous owner
Global Hyatt Corporation $131 million.
July 2, 2008
Avis Budget Group and Dollar Thrifty Automotive Group both said fleet reductions this summer should improve pricing, announced that second-quarter
financial performance did not meet expectations and suggested the difficult environment would hurt full-year earnings. Avis Budget also cited "lower commercial travel volumes." Both companies will detail second-quarter
financial performance in early August.
June 3, 2008
Wyndham Worldwide Corporation plans to acquire US Franchise Systems Inc. from Global Hyatt Corp., including the Hawthorn Suites and Microtel Inns & Suites hotel brands. With 91 properties, Hathworn would bring Wyndham into the all-suite extended-stay sector. Microtel accounts for about 300 economy-tier properties. Wyndham expects the transaction to meet closing conditions within 60 days.
retweet
share
