Tag: Operator

Hotel Operator Hilton Shares Rise After Profit Beats Estimates; Target Price $100

Hilton Worldwide Holdings, one of the largest and fastest-growing hospitality companies in the world, reported a better-than-expected profit in the third quarter as cost-cutting helped the multinational hospitality company to recover from the COVID-19 pandemic slump, sending its shares up about 2% in the premarket.

The U.S. hotel operator said its diluted EPS at -$0.28 for the third quarter, and diluted EPS, adjusted for special items, was $0.06. That was better than market expectations of a loss of 2 cents per share.

Hilton posted a net loss of $81 million for the third quarter and adjusted EBITDA of $224 million. System-wide comparable RevPAR plunged 59.9% on a currency-neutral basis for the third quarter from the same period last year.

“The better than expected results and continued progress in key metrics should be incrementally positive for the shares, in the context of the broader market action. Despite the limited visibility into near-term business and group travel, the improving RevPAR and continued NUG are positive bases for recovery and furtherance of the financial merits of the business model,” said David Katz, equity analyst at Jefferies.

Hilton shares rose 1.61% to $92.11 in pre-market trading on Wednesday; however, the stock is down about 20% so far this year.

Executive Comments

“Our third-quarter results show meaningful improvement over the second quarter. The vast majority of our properties around the world are now open and have gradually begun to recover from the limitations that the COVID-19 pandemic has imposed on the travel industry, with occupancy increasing more than 20 percentage points from the second quarter,” said Christopher J. Nassetta, President & Chief Executive Officer of Hilton.

“While a full recovery will take time, we are well-positioned to capture rising demand and execute on growth opportunities.”

Hilton Stock Price Forecast

Ten equity analysts forecast the average price in 12 months at $89.89 with a high forecast of $104.00 and a low forecast of $80.00. The average price target represents a -0.84% decrease from the last price of $90.65. From those ten analysts, five rated “Buy”, five rated “Hold” and none rated “Sell”, according to Tipranks.

Morgan Stanley gave the base target price of $81 with a high of $129 under a bull-case scenario and $49 under the worst-case scenario. The firm currently has an “Equal-weight” rating on the hospitality company’s stock. ValuEngine raised Hilton Worldwide to a buy rating from hold.

Several other analysts have also recently commented on the stock. Jefferies Financial Group raised to a buy rating from hold and increased their price target to $101 from $72. Raymond James increased their price target to $92 from $90 and gave the company an outperform rating. Citigroup increased their price target to $92 from $75 and gave the company a neutral rating.

We think it is good to buy at the current level with a target of $100 as 100-day Moving Average and 100-200-day MACD Oscillator signal a buying opportunity.

Analyst Comments

“Humana has both high earnings exposure (~75%) to Medicare Advantage (MA), and leading

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Operator of Aberdeen hotel goes under with loss of 30-plus jobs

The company that operated the Hilton Garden Inn in the centre of Aberdeen has collapsed, with the loss of more than 30 jobs.

Thursday, 29th October 2020, 2:05 pm

The firm operated the Hilton Garden Inn Aberdeen City Centre. Picture: Alan Donaldson.
The firm operated the Hilton Garden Inn Aberdeen City Centre. Picture: Alan Donaldson.

It follows no buyers coming forward for the 100-bed hotel at St Andrew Street in the Granite City.

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Consequently, the hotel company experienced funding shortfalls at various times and required additional support from its shareholders to keep trading. “Despite a restructuring involving several of its key stakeholders and taking steps to reduce trading and overhead costs, the company was still unviable,” KPMG said.

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150 jobs lost as Glasgow building firm goes under amid Covid-19

The hotel closed in March when Covid-19 lockdown measures were introduced in the UK, which had a major impact on the company’s cash position.

The directors couldn’t secure new funding and, despite marketing the leasehold interest in the hotel, the lack of sale meant the directors decided to place the company into liquidation.

At the time of the appointment, the company had 34 people who had been on furlough, and they have now all been made redundant as the business will not be able to reopen and trade.

Nimmo, joint liquidator and KPMG’s UK head of restructuring, said: “Unfortunately, following a prolonged period of challenging trading, lockdown was too big a challenge for the hotel in a local market already adversely impacted by oversupply.


“The current difficulties within the hospitality sector are well-documented and we have been working with several businesses recently with similar challenges. Regrettably, some insolvencies in this sector are inevitable, and we are working with all affected employees and the relevant government agencies to ensure a full range of support is available for all impacted employees.”

The news comes after a report published by PwC earlier this week found that key Scottish cities including Aberdeen saw “precipitous” declines in key hotel market metrics on the back of the Covid-19 pandemic, and the broader industry could take four years to recover. However, there was optimism from a PwC partner in Aberdeen that the city’s hotel market would recover again.

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Henrico-based hotel operator opens two properties in the Richmond region; other area projects delayed | Business News

Henrico-based KM Hotels has opened two new hotels in the Richmond region in recent months.

The company opened up the Residence Inn by Marriott on Glenside Drive just north of West Broad Street in Henrico County last month.

That hotel site, which is in front of the Hampton Inn & Suites that KM Hotels also owns, had been the home of the Skilligalee seafood restaurant, which closed in 2013.

The 119-room, four-story hotel was supposed to open earlier this year, but the coronavirus pandemic delayed the opening.

KM Hotels also opened a five-story Tru by Hilton hotel in Ashland. The 91-room hotel is at the northwest quadrant of state Route 54 and Interstate 95.

It also opened a Tru hotel in Radford.

Both Tru hotels also were slated to open earlier this year, but got delayed.

KM Hotels is proceeding with other projects in the Richmond region, but those developments have been delayed because of the pandemic, said Mayur Patel, the president and chief operating officer of KM Hotels.

“They have been prolonged and are still going through the development approval process,” Patel said.

One project calls for a nine-story hotel along the Kanawha Canal in downtown Richmond for an AC Hotel by Marriott.

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India Travel, Travel Company in India, India Tour Operator, India Travel Guide

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Customer Reviews
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India Travel Packages | India Tour Operator | India Holiday Package | India Travel Agents

India is such a beautiful and diverse country that every travel enthusiast wishes to take India tour once in a lifetime. India has everything that a tourist might seek during his/her vacations. India is rich in all aspects as it has lush green forests, varied wildlife, lofty mountains, awe-inspiring hill stations, splendid monuments, ancient shrines, and much more. Since it is bestowed with the best of everything, it serves as a perfect tourist destination for all, irrespective of budget, age, or interests.

We offer a wide collection of India Travel Packages, which let you explore different horizons of the country in a hassle-free manner. During the tour, you can avail of fine quality services, including comfortable transfers, premium accommodation, proficient guide, etc. So, don’t procrastinate anymore and brace up for having the most exciting trip of your life. Opt for the one of your choice from the range of India Travel Packages and make the most of your holidays.

Every travel package explores a popular destination in India. From sun kissed temples, majestic palaces, shimmery backwaters and snow-topped mountains, we present a diverse selection in destinations.

Most Popular Travel Collection of India

Undoubtedly, India is a scenic destination in South Asia, which finds a place in the bucket list of every travel enthusiast. But the tourist often gets confused when it’s about choosing a destination. That is why we have come up with a collection of the most popular travel packages of India, from which you can choose as per your preferences. No matter which region or state you decide to visit, India will always leave you awestruck. North India has some of the most-visited cities of India while South India encloses a serene and tranquil world in itself. East India has beautiful states, rich in nature and wildlife. Last but not least, West India epitomizes the western world. In case you are planning to explore a particular state, you can go for Rajasthan, which is the incredible state of the country. You can get to know about the Indian culture and history in detail in this state. On the other hand, Kerala in South India is known as God’s Own Country as it has the best of almost everything, may it be art forms or natural beauty or wildlife or anything else.

Though these are the best tourist places in India, there are many more. So, get going now and book the most popular travel packages of India with us now. We ensure you that you will have an unforgettable experience of visiting India.

Buckle that backpack and head out for a journey of a lifetime, capturing sunsets, colorful landscapes and hearing stories as old as time.

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