Vol. 7 No. 279 About   |   Contact   |   Advertise May 15, 2019
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Marriott sees dip in income during first quarter 2019
CEO Sorenson said company is building for the future
News-1
Marriott International's reported net income in 2019’s first quarter was $375 million and its adjusted net income came to $482 million, a decrease from $420 million in reported net income and adjusted net income of $487 million in the first quarter of 2018.
THE FIRST QUARTER of 2019 wasn’t the best Marriott International has seen, with decreases in net income and earnings per share. Still, President and CEO Arne Sorenson called it “solid” and said the company is building for the future.

Marriott's reported net income in the first quarter was $375 million and its adjusted net income came to $482 million, according to the company’s earnings report. Those numbers are down from $420 million in reported net income and adjusted net income of $487 million in the first quarter of 2018. Reported diluted EPS was $1.09 in the quarter, down from $1.16 last year. However, the company’s adjusted diluted EPS increased 5 percent over last year from $1.34 to $1.41.

There were other positive signs during 2019’s first three months, Sorenson said.
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INSIDERS
Insiders Michelle Masters is the new regional vice president of franchise service at Choice Hotels. Previously she was regional vice president of franchise operations at Radisson Hotel Group.
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Hilton partnerships benefit loyalty members, employees with children
The company will reward Hilton Honors points for Lyft rides and provide employees a new way to take care of their children
News-1
In a new partnership with ride-sharing company Lyft, Hilton Honors members will now get points for using the service.
HILTON IS GIVING members of its Hilton Honors loyalty program a lift, or, rather, a Lyft. The company is partnering with the ride-share giant to allow Hilton Honors members to collect points for catching a ride with Lyft.

Another partnership with Milk Stork will allow moms working for Hilton to ship or carry breast milk home to their babies at no cost while traveling for work.

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North Point ‘tops out’ Atlanta Hampton Inn
The 186-room hotel is set to open in early 2020
News-3
The Hampton Inn & Suites by Hilton Atlanta Midtown in Atlanta, Georgia, owned and operated by North Point Hospitality, will feature a 20th-floor lobby with an indoor/outdoor rooftop bar and lounge area offering skyline views of midtown Atlanta.
NORTH POINT HOSPITALITY reached the literal high point in its development of the new Hampton Inn & Suites by Hilton Atlanta Midtown last week, having installed the highest structure of the building. The Atlanta, Georgia-based company, led by President and CEO S. Jay Patel, held a traditional “topping out” ceremony to mark the occasion.

It was a particularly apropos moment considering that one of the 186-room hotel’s most enticing features is a 20th-floor lobby with an indoor/outdoor rooftop bar and lounge area offering skyline views of midtown Atlanta. Located on the corner of West Peachtree Street and 15th Street in the heart of the city, the Hampton Inn & Suites is expected to open in early 2020. Read More...
 
Current Issue
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Special Report 2018
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OPENINGS
openings Fairfield Inn & Suites New Orleans Metairie is open in Metairie, Louisiana. It will operate as a Marriott franchise, owned and managed by Baywood Hotels of Columbia, Maryland, under President and CEO AI Patel.
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NUMBERS
Numbers
7 percent  

The percentage of growth the U.S. hotel pipeline grew in terms of projects, along with 8 percent growth in rooms, during the first quarter of 2019 over last year. Once again, Marriott International, Hilton Worldwide and InterContinental Hotels Group dominated the pipeline.
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Chicago-area Holiday Inn reopens after $10 million renovation
Lakhani Hospitality owns the 250-room hotel and is celebrating 15 years in business
News-2
The 250-room Holiday Inn & Suites Chicago North Shore in Skokie, Illinois, owned by Lakhani Hospitality, opened in the 1960s. The Lakhani family, owners of the building since 2004, gathered for the ribbon cutting to reopen the hotel after a $10 million, multi-year renovation.
WITH THE COMPLETION of a multi-year, $10 million renovation, the Holiday Inn & Suites Chicago North Shore in Skokie, Illinois, is now reopened. The reopening of the 250-room hotel also marked a special occasion for owner and operater Lakhani Hospitality.

The revamped Holiday Inn features improvements to its guestrooms, lobby, event spaces and pool. It includes 15,000 square feet of flexible banquet and meeting space that can be used for weddings, bar and bat mitzvahs, quinceaneras, fundraisers and other events. The space can be divided into eight separate meeting rooms and can accommodate up to 1,000 guests.
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GRAPHIC OF DAY
Hotel stock index rises 5.3 percent in April
Graphic
THE BAIRD/STR Hotel Stock Index witnessed a significant 5.3 percent increase in April to 4,886. The year-to-day performance through the first four months of 2019 was up 20.1 percent.

In a change from the previous month, the Baird/STR performed better than both the S&P 500 and MSCI US REIT Index, which was up 3.9 percent and down 0.4 percent respectively. The hotel brand sub-index jumped 7.3 percent from March to 7,521, while the Hotel REIT sub-index increased 1.4 percent to 1,615.

“Hotel stocks outperformed their respective benchmarks in April and both sub-indices finished higher for the month,” said Michael Bellisario, senior hotel research analyst and vice president at Baird. “Industry fundamentals in April rebounded to a level that was more in line with expectations after weaker-than-forecasted performance across the board in March, which allayed some investor concerns about slowing growth trends; also, hotel earnings for the first quarter generally have been better than feared so far, which also has led to higher stock prices.”
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