Supplier News

Hotel Bookings Said to Be Sluggish - thestreet.com

A slower-than-expected revenue recovery at hotels has one analyst reducing his earnings outlook. "The revenue per available room recovery in May and June has been inconsistent across regions resulting in a one- to two-point shortfall, and margin improvement has been stalled," said Harry Curtis, an analyst at J.P. Morgan, who cut earnings estimates for hotel chains Starwood (HOT:NYSE - news - commentary - research - analysis), Host Marriott (HMT:NYSE - news - commentary - research - analysis), and Marriott (MAR:NYSE - news - commentary - research - analysis) on Monday. Revenue per available room, or RevPAR, is considered a key benchmark for the industry, since it factors in rates as well as occupancy.

Pegasus Solutions Moves Toward Bid to Acquire Complementary Hotel Representation & Reservation Provider VIP

DALLAS and CALGARY, Alberta, Pegasus Solutions, Inc. PEGS announced today that it intends to make an offer to the shareholders of HARS Systems Inc. ("HARS") HSS to purchase all outstanding common shares of HARS at a cash price of $.62 CAD per share, subject to Pegasus signing additional lock-up agreements with shareholders representing approximately 5.7 million of HARS' outstanding shares by May 27, 2002. Headquartered in Calgary, Canada, HARS provides reservation distribution services to hotels and car rental companies around the world through its wholly owned subsidiary, VIP International Corp. Pegasus Solutions is a leading provider of technology services to the hotel industry.

Radisson SAS Hotels & Resorts Nears Completion of 80 Million USD Investment & Improvement Program

Brussels, November 2001… Radisson SAS Hotels & Resorts is rising above the challenges of the worldwide travel and tourism downturn by forging ahead with an 80 million USD (MEUR 90) refurbishment program, encompassing more than 10 of its properties throughout Europe, the Middle East and the Far East.

Country Suites By Carlson opens first co-branded location with sister hotel the Radisson Riverfront Hotel Augusta

A new Country Suites By Carlson, a franchised hotel of the international mid-tier brand Country Inns & Suites By Carlson, has opened in Augusta, Ga., next to its sister hotel, the Radisson Riverfront Hotel Augusta. This is the first time the Minneapolis, Minn.-based sister companies of Carlson Hospitality Worldwide have co-branded. The new Country Suites By Carlson is connected by skyway to the Radisson Augusta Conference Center. The hotel is seven stories high and consists of 136 all-suite guest rooms.

"We couldn't be more pleased with the new Country Suites which, combined with the Radisson hotel, makes this complex the largest convention and hospitality center in Augusta," said Paul Simon, president, Augusta Riverfront Limited Partnership, owner of the Country Suites and Radisson in Augusta. "By co-branding with Radisson, our Country Suites' guests are able to take advantage of the amenities a four-star hotel offers by having the opportunity to dine at Radisson's restaurant, Augustino's, and charge the bill to their room. As a limited-service hotel, this is a great plus for our Country Suites' customers while also bringing new business to our Radisson hotel."

Sonnenblick-Eichner Company Arranges 62.9 Million USD of Permanent Financing For WestCoast Hospitality Corporation Portfolio

LOS ANGELES, Oct. 2 / Sonnenblick-Eichner Company announced today that it has completed $62,900,000 in permanent financing for a portfolio of four hotels comprised of 1,038-rooms which are owned, managed and franchised by WestCoast Hospitality Corporation WEH. The properties include:

India-Based Monarch Hospitality Services Private Ltd. Signs Master Franchise Agreement with Howard Johnson - Monarch to Develop 15 Howard Johnson Hotels in India Over Next Five Years

PARSIPPANY, N.J., March 15 / Howard Johnson International Inc., a mid-scale hotel industry leader, has announced the signing of a master franchise agreement with Monarch Hospitality Services Private Ltd. that calls for the development of 15 hotels in India over the next five years.

Dorchester Group to Manage Hotel Plaza Athenee in Paris

LONDON / Feb. 8, 2001--The Dorchester Group announced today that it is now managing the Hotel Plaza Athenee in Paris on behalf of The Brunei Investment Agency, which has acquired the hotel from HRH Prince Jefri Bolkiah.