Tag: rise

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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Halloween Restless Spirits Rise to the Occasion for Hauntingly Creepy Ghostober on Travel Channel

If you are in the mood to be scared, stunned, perplexed or just generally freaked out, The Travel Channel is the place to be in these days leading up to Halloween.

They’ve got the whole paranormal genre nailed, with a “Ghost Adventures” investigation into “The Horror of Joe Exotic Zoo,” Jack Osbourne taking his famous family — Including Kelly, Sharon and, yes, Ozzy — on their first-ever paranormal investigation together, and a “Ghost Nation: Reunion in Hell,” a two-hour spine-tingling special bringing ghost hunting pals back together inside the Rhode Island mansion famous for being featured on the TV show “Dark Shadows.”

“The beauty of what we do is nonfiction storytelling of these iconic stories with great talent, and that just is something different that really resonates with the fans of the genre,” Matthew Butler, Travel Channel general manager, tells TheWrap.

First up, on Oct. 29,  Zak Bagans and the “Ghost Adventures” crew go inside Joe Exotic’s Greater Wynnewood Animal Park, finding evidence that the animals seen on “Tiger King” weren’t the only tortured souls wandering the grounds. An accidental shooting and the rumor of another not-so-accidental one have left unrested spirits, who have made themselves known to the park staff and, ultimately, to a frequently rattled team of investigators.

Also Read: Ed and Lorraine Warren Go Inside the Amityville Horror House in ‘Shock Doc’ Preview

You can also catch the season premiere of “The Holzer Files” immediately afterward, with an all-new investigation from the trail of John Wilkes Booth in Maryland to a serial killer in Ohio.

Jack Osbourne makes back-to-back appearances on Oct. 30, first in a one-hour sneak peak of “Portals to Hell: Frightmare in Connecticut,” where he and his investigating partner, Katrina Weidman, dive into what is rumored to be Connecticut’s most haunted home, Captain Grant’s Inn. The current owner took matters into her own hands years ago, when she believed she had been taken over by an evil spirit… so she conducted an exorcism on herself. Maybe not such a good idea, considering she has not cataloged over 300 spirits haunting the property.

Osbourne then gets very personal by bringing in his famously kooky family for “The Osbournes: Night of Terror,” a two-hour special in which the First Family of Darkness are in for real chills with a ghost hunt inside Los Angeles’ historical Heritage Square.

“It was a lot of fun. I have to say, Kelly just brought so much energy,” Butler said. “We’ve seen Ozzy and Sharon, who want to believe and kind of debate on, is this real? Is this not real? But Kelly is kind of presenting Kelly on this network in a new way. Like she comes in, I’m not totally skeptical, but not really doesn’t quite get it. And then to see her transition through the episode and be having her part of the experiences with Jack is so entertaining.”

Also Read: Halloween Is Not Canceled: Jamie Lee Curtis, Vince Vaughn Join Blumhouse’s First BlumFest

On Halloween night, “Reunion

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Boulder-like hotel to rise over artificial sand dune casino

Netherlands-based firm ZJA drew on a lost coastal dune landscape for inspiration with its mixed-use hotel and casino in Middelkerke, Belgium. The project will overlook the North Sea and is envisioned as an artificial sand dune, with a “boulder-like” hotel on top.

The project, named Casino Middelkerke, will consist of the casino itself, as well as a restaurant and events hall situated inside the main dune-like building. On top of this will be the hotel and will feature a wooden latticed facade. The overall design is meant to recreate the local area’s original landscape.

“Inspiration for the design was found in the story of the town’s origin,” explains ZJA. “Middelkerke originated on the island of Testerep and was able to grow into an abundant fishing village through the natural protection of a dune and a direct connection to the North Sea via a natural canal. The dunes and water channels of Middelkerke disappeared as a result of urbanization over the last century.

“The construction of the casino building in Middelkerke will function as a tool to renew this historic coastal landscape and give it a contemporary meaning. The building program nestles itself naturally in the landscape. For example, a brand-new event hall, restaurant and casino will be situated behind completely transparent facades under the dune, offering spectacular views of the beach and the sea. The volume of the hotel has a strong visual presence and yet a modest footprint, and stands like a boulder amidst this elevated landscape”

Casino Middelkerke's hotel will feature outdoor terrace areas that are enclosed by a wooden latticed structure
Casino Middelkerke’s hotel will feature outdoor terrace areas that are enclosed by a wooden latticed structure

Nautilus

There’s no word yet on when construction is expected to begin, but the project will make use of recycled materials, as well as sustainably-sourced wood. According to ZJA, the cantilevered form of the dune building will help shade the interior and reduce active cooling requirements. Its interior will be focused on maximizing daylight and ventilation, and there will be green roof areas.

Visitors will be able to walk on top of the roof of the casino to enjoy views of the North Sea and a new car-free public space will also be created. Additionally, the project will bolster the local sea wall defenses.

Though the design is led by ZJA, the firm is part of a larger consortium named Nautilus, which also includes Ciril, Delva, Oz, Bureau Bouwtechniek and Furnibo and Democo. COBE, VK Engineering, Beersnielsen, Witteveen+Bos, Plantec, MINT and Sertius are involved in the project, too.

Source: ZJA

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Coronavirus live: Italians warned not to travel abroad due to rise in Covid cases | World news





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France may be experiencing 100,000 new Covid cases a day

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CT Discourages Travel To NY As Infections Rise

CONNECTICUT — Less than a day after suggesting the state was on the verge of relaxing the restrictions that placed states onto its coronavirus travel advisory list, Gov. Ned Lamont pulled a 180.

During a news conference Tuesday, the governor told reporters that the present metrics will stay in place.

Currently, states and territories are placed on the advisory list if they have a daily positive coronavirus test rate higher than 10 per 100,000 residents or a 10 percent or higher positive rate over a seven-day rolling average. On Monday, Lamont said that soon states will need to meet both criteria, not just one, and the positivity rate will be lowered to 5 percent. That change will make qualifying for the travel advisory list more difficult.

“The other threshold was so broad, it was becoming unenforceable,” Lamont said.

Nevertheless, that threshold will remain, at least for the time being. The surprise move Tuesday came after New York Gov. Andrew Cuomo doubled down on keeping current guidelines in place.

Cuomo said he will be speaking with Lamont and New Jersey Gov. Phil Murphy about how New York officials can help with the outbreaks and also “about making it clear to the extent travel among the states or between the states is not essential, it should be avoided.”

The governors added Arizona and Maryland to the area’s coronavirus travel advisory list Tuesday, bringing the number of restricted places to 40.

Lamont said there has always been an exemption to any travel restrictions between New York and Connecticut, for the residents of one state who live in the other. The recent spike in infections, however, was making the tri-state governors take a hard look at nonessential travel around the area.

“If you don’t have to travel, if you don’t have to go into parts of Brooklyn and Queens, where you’ve got an 8 percent positivity rate, don’t go,” Lamont said.

The positivity rates for Connecticut and New Jersey still stand far below the 10 percent threshold for the travel advisory, but their cases reached above 10 cases per 100,000 people, New York officials said.

Late Tuesday, Lamont, Cuomo and Murphy released a joint statement:

“The travel advisory was designed to keep our respective states safe, with the understanding that we are a connected region, dependent on each other when it comes to commerce, education, and health care. We’re urging all of our residents to avoid unnecessary or non-essential travel between states at this time, but will not subject residents of our states to a quarantine if coming from a neighboring state. New York, New Jersey, and Connecticut have among the lowest infection rates in the country because we have based our approaches to controlling the spread on science and data, and we will continue to do so.”

Lamont has directed his staff to reach out to their counterparts in Massachusetts and Rhode Island to discuss working out a similar approach with their respective states.

Until then, anyone from a restricted state

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New York, New Jersey, Connecticut discourage nonessential travel as COVID-19 cases rise

NEW YORK (Reuters) – The governors of New York, New Jersey and Connecticut on Tuesday urged residents to limit nonessential travel between the states but stopped short of imposing quarantine requirements for people crossing those borders, even as local coronavirus cases rose.

New York, which faced one of the most rampant outbreaks in the world earlier this year, now requires people arriving from 38 states and two U.S. territories where cases are rising to quarantine for 14 days, either at home or in a hotel room.

Connecticut, New Jersey and Pennsylvania now meet the state’s criteria for the quarantine requirements, but New York Governor Andrew Cuomo agreed with his neighboring counterparts that adding them to the quarantine list would be impractical.

In a joint statement later on Tuesday, Cuomo joined New Jersey Governor Phil Murphy and Connecticut Governor Ned Lamont, all Democrats, in saying the three states “depend on each other when it comes to commerce, education, and health care.”

“We’re urging all of our residents to avoid unnecessary or non-essential travel between states at this time, but will not subject residents of our states to a quarantine if coming from a neighboring state,” the statement said.

Cuomo said he also wanted to discourage nonessential travel from Pennsylvania.

The rate of positive coronavirus tests was above 3% in New Jersey, state health officials said on Monday. In Connecticut, the positivity rate was 1.7%, Lamont said on Monday. Pennsylvania’s was 4.3%, said Governor Tom Wolf.

New York’s positivity rate was 1.3% on Tuesday, one of the lowest in the nation, but health officials have raised concerns about some “hot spots” in parts of New York City and counties north of the metropolis.

(Reporting by Jonathan Allen; editing by Jonathan Oatis and Sam Holmes)

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NY Discourages Travel From NJ As Coronavirus Infections Rise

NEW JERSEY — After New Jersey regressed in its management of the coronavirus pandemic, New York Gov. Andrew Cuomo has discouraged travel between the two states. And they aren’t alone.

On Tuesday, Cuomo announced nonessential travel between New Jersey, Connecticut and Pennsylvania should be put on pause, but stopped short of including the states on New York’s travel advisory list despite the fact that the Garden State qualifies for it.

A placement on that list would mean travelers from the three states would need to quarantine for 14 days after arriving in New York, something Cuomo said was impractical. Such a move could have a tremendous economic impact on the two states since tens of thousands of commuters travel from the Garden State to New York every day.

A discussion is planned between Gov. Phil Murphy, Connecticut Gov. Ned Lamont and Cuomo on Tuesday. The meeting is “about making it clear to the extent travel among the states or between the states is not essential, it should avoided,” and to discuss how New York officials can help manage outbreaks, Cuomo said.

New York, New Jersey and Connecticut all share the same travel advisory standards, which include:

  • An average daily number of cases higher than 10 per 100,000 over a seven-day period.

  • A positivity rate of 10 percent or higher over seven days.

New Jersey’s positivity rates are still below the 10 percent mark, but the state’s cases have reached more than 10 cases per 100,000 people, according to New York officials.

Lamont recently suggested a change to those standards, which would make it harder for states to qualify for the list. Cuomo didn’t address that proposal, however.

For now, at least, New Jersey will remain absent from the undesirable list, but an update is expected on interstate travel as soon as Wednesday. “And I’ll have more to say on that (Wednesday),” said Cuomo.

New Jersey has its own travel advisory and has also kept Pennsylvania and Connecticut off its list. The current number of states that are subject to quarantining is 38. Read more: NJ Expands Coronavirus Travel Quarantine List To Biggest Ever

This article originally appeared on the Ridgewood-Glen Rock Patch

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Cuomo Mulls Restricting Travel From NJ, CT As Infections Rise

NEW YORK CITY — Coronavirus case spikes in New Jersey and Connecticut have reached a point where all non-essential travel from them to the Empire State likely will be discouraged, Gov. Andrew Cuomo said.

Cuomo’s assessment Tuesday of New York’s neighboring states comes amid growing COVID-19 outbreaks across the country. He said 43 states are now on New York’s travel advisory list, which requires travelers from them to quarantine for 14 days — but he didn’t immediately provide the updated list.

Connecticut and New Jersey now both qualify to be on the list but no quarantine order has been issued because the close ties between the states make it impractical, Cuomo said.

He said he’ll be speaking with Connecticut’s and New Jersey’s governors Tuesday about how New York officials can help with the outbreaks and also “about making it clear to the extent travel among the states or between the states is not essential, it should avoided.”

“And I’ll have more to say on that (Wednesday),” he said.

The three states all share the same travel advisory standards, which are:

  • An average daily number of cases higher than 10 per 100,000 over a seven-day period.

  • A positivity rate of 10 percent or higher over seven days.

But Connecticut Gov. Ned Lamont recently suggested changing the standards to make it more difficult for states to get on the list.

Connecticut’s and New Jersey’s positivity rates still stand far below the 10 percent threshold for the travel advisory, but their cases reached above 10 cases per 100,000 people, New York officials said.

Cuomo did not address Lamont’s proposal to change the standard — indeed, he and his staff made clear they were sticking with the old level.

He said he’ll be talking with Connecticut’s and New Jersey’s governors as to how to help the states with their coronavirus outbreaks, but made it clear that many travel restrictions likely won’t apply to them.

It’s likely officials will discourage non-essential travel from those states into New York, Cuomo said. But otherwise it’s too difficult to separate the three states’ economies, he said.

“There is no practical way to quarantine New York from Connecticut and New Jersey,” Cuomo said.

This story will be updated with the full, updated travel advisory list.

This article originally appeared on the New York City Patch

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U.S. borders with Mexico and Canada to remain closed for non-essential travel as coronavirus infections rise

Washington — The United States’ borders with Mexico and Canada will remain closed for non-essential travel for another month as the country braces for what public health experts say will be a difficult winter battling the coronavirus pandemic.

Acting Homeland Security Secretary Chad Wolf said Monday that the three countries will extend travel restrictions through November 21 in an effort to mitigate the spread of the coronavirus.

“We are working closely with Mexico & Canada to identify safe criteria to ease the restrictions in the future & support our border communities,” Wolf tweeted.

Bill Blair, Canada’s minister of public safety and emergency preparedness, said the nation’s “decisions will continue to be baked on the best public health advice available to keep Canadians safe.”

Under the restrictions, a foreign national arriving in Canada from the U.S. must prove they are traveling for an essential purpose or are an immediate family member and are not showing symptoms of COVID-19. Travelers must also have a plan to quarantine for 14 days.

Those traveling to Mexico from the U.S. may also be denied entry if their trip is considered non-essential, including for tourism and recreational purposes.

The U.S. leads the world in coronavirus infections, with more than 8.2 million confirmed cases, according to Johns Hopkins University. Mexico, by contrast, has had more than 800,000 confirmed coronavirus cases, and Canada has had more than 204,000 infections.

Coronavirus cases continue to rise in more than 30 states, and public health experts are warning the U.S. will be in for a difficult fall and winter.

Dr. Scott Gottlieb, the former head of the Food and Drug Administration, told “Face the Nation” in an interview Sunday that the U.S. is heading toward the “most difficult phase of this epidemic.”

“I think the next three months are going to be very challenging. There’s really no backstop against the spread that we’re seeing,” he said.

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The rise of the hotel office

According to Melanie Marcombe, head of sales at Dayuse.com, a platform that allows users to book a hotel for hours rather than overnight, the site has seen an explosion in hotels offering working packages; not surprising, given that worldwide most are currently operating at below 30 per cent occupancy – far lower than what they need to survive.

Large, urban hotels aimed at business travellers have been among the hardest hit. Since the beginning of lockdown, Marcombe says they have received more than 1,000 requests from hotels around the world asking to join the platform – which now features 6,000 hotels in 25 countries.

Joanne Taylor-Stagg, general manager at the Athenaeum, admits that occupancy is currently “in the teens” percentage-wise (at this time of year they’d usually be around 80 per cent full) and certainly, during my day there, I saw only three other guests.

Checking into a hotel for the day did, admittedly, feel faintly wrong, but it wasn’t helped by the fact that it was so glaringly empty; the carefully-explained one-way system, hand sanitising stations everywhere and ability to scan your own passport felt faintly absurd given the dearth of visitors. The room itself felt similarly forlorn – the muffled drone of traffic from outside only intensifying the solitude.

Nevertheless, says Taylor-Stagg, the offering has been relatively successful – while the majority of users opt for the “Public Space” option – use of the lobby or first-floor balcony area, with a 15 per cent dining discount, for a modest £40 a day – even the full “Private Office” package: £199 for the day with lunch and snacks included is a bargain compared to hiring commercial space in Mayfair.

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