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Fly News Breaks for December 20, 2019
XHR, SVC, SHO, RHP, RLJ, PEB, PK, INN, HT, HST, CPLG, CLDT, BHR, APLE, AHT, DRH
Dec 20, 2019 | 06:56 EDT
Stifel analyst Simon Yarmak named DiamondRock Hospitality (DRH) as his top pick in the lodging REIT space for 2020, citing his view that the company should post among the strongest relative RevPAR growth next year. He keeps a Buy rating on DiamondRock and raised his price target on the shares to $12 from $11. However, on the lodging REIT group more broadly, he maintains an Underweight view, citing his belief that 2020 guidance for EBITDA and RevPAR are likely to disappoint, which will likely pressure the group. Other lodging REITs Yarmak covers include Ashford Hospitality (AHT), Apple Hospitality REIT (APLE), Braemar Hotels & Resorts (BHR), Chatham Lodging (CLDT), CorePoint Lodging (CPLG), Host Hotels (HST), Hersha Hospitality (HT), Summit Hotel Properties (INN), Park Hotels & Resorts (PK), Pebblebrook Hotel (PEB), RLJ Lodging Trust (RLJ), Ryman Hospitality (RHP), Sunstone Hotel (SHO), Service Properties (SVC) and Xenia Hotels (XHR).
News For DRH;AHT;APLE;BHR;CLDT;CPLG;HST;HT;INN;PK;PEB;RLJ;RHP;SHO;SVC;XHR From the Last 2 Days
PEB
Jun 23, 2021 | 07:15 EDT
Pebblebrook Hotel Trust provided an update on recent operating trends, which continue to improve each week. The Company expects to achieve positive Adjusted EBITDA in the second quarter of 2021 and positive Adjusted Funds from Operations in the third quarter of 2021. The Company also announced that it executed a contract to acquire the 369-room Margaritaville Hollywood Beach Resort in Hollywood, Florida for $270M. The acquisition is anticipated to be funded from existing cash on hand and is targeted to be completed by the end of the third quarter of 2021. As part of the acquisition, the Company may assume up to $161.5M of secured, non-recourse debt currently in place. The purchase is subject to normal closing conditions, and the Company offers no assurances that this acquisition will be completed on these terms or at all.