Latest news with #BHR
Skift
3 days ago
- Business
- Skift
Global Tourism Rises 5% Year-Over-Year
Over 300 million tourists traveled internationally in the first three months of 2025, a 5% rise from last year and 3% more than in pre-pandemic year 2019. The DJIA fell 245 points, the Nasdaq was down 98, the S&P 500 fell 33 points and the 10-year treasury yield was up .04 to 4.48%. Lodging stocks were lower. The mover of note was BHR, down -7%. TPG Hotels & Resorts has been selected by Verge Management LLC to manage a portfolio of five Marriott-branded select service hotels in Oklahoma, Louisiana, and Arkansas. TPG Hotels & Resorts will oversee all aspects of hotel operations, providing hands-on leadership and leveraging its national platform to enhance performance, efficiency, and guest satisfaction. The Ava Hotels, Curio Collection by Hilton, is now accepting reservations for stays beginning September 22, 2025, with the likelihood of an earlier opening in the summer as the hotel nears completion. Located in Paso Robles, California, the four-story, 151-room property features multiple dining venues, including Paso's first and only rooftop bar, a rooftop pool, ground-level retail storefronts, and over 3,000 square feet of event space. Meyer Jabara Hotels has established its presence in Tampa, Florida, by assuming management of the Hilton Garden Inn Tampa Northwest/Oldsmar. The 87-room property features an outdoor pool, fitness center, multiple dining outlets, conference space, a meeting room, and a business center. The recently renovated hotel is owned by Rogatien Krecek. The Ambassador Hotel of Waikiki, Tapestry Collection by Hilton on the island of O'ahu, has officially joined Hilton as the first Tapestry Collection property in Hawaii. The newly renovated Ambassador Hotel of Waikiki is operated by Highgate and features 368 guestrooms, Waikiki Swim & Social Club, and indoor/outdoor dining. The construction phase of a long-awaited hotel in McMaster Innovation Park, Hamilton, Ontario, will begin this summer. Sigma Group and Kothari Group will develop the dual-branded property — Hyatt Place and Hyatt House. Housed in one building, Hyatt Place will feature 78 traditional rooms, while Hyatt House will have 84 suite-style rooms. Amenities include a gym, an indoor saltwater pool, a business center, laundry, multiple dining venues, and meeting spaces. IHG Hotels & Resorts celebrated the opening of a newly converted Holiday Inn Express & Suites in Hawthorne, New York. The hotel offers 91 rooms, 884 square feet of meeting space, a pool, and a fitness center. Holiday Inn Express & Suites Hawthorne - Elmsford North operates under the ownership of Broadway Hawthorne, LLC. Noble Investment Group announced the acquisition of sixteen WoodSpring Suites long-term extended-stay properties through two portfolio transactions. Hotel Willa, the latest addition to Casetta's growing constellation of boutique stays, and the brand's first foray into the American Southwest, is open in Taos, New Mexico. Located in Downtown Taos Historic District, the 50-room retreat re-imagines a 1960's adobe-style motor lodge and features a dining concept, a gallery-style lobby, a pool deck, a retail destination, a gallery, and multiple event spaces. Hotel Terra Jackson Hotel, located in Jackson Hole, Wyoming, has completed the first phase of its extensive, multi-million dollar renovation and is now embarking on phase two, with the third and final phase set to be completed before the end of the year. In the first phase of the renovation, extensive upgrades were made to the hotel's guestrooms. Phases two and three will bring even more significant enhancements to the guestrooms and suites and the hotel's corridors. A self-described 'pop-up hotel' company has chosen Reno as its first location in Nevada as it embarks on a nationwide expansion of its services. Placemakr is offering 66 apartment-style suites in downtown Reno for booking. According to the company, a pop-up hotel is a temporary accommodation option where guests can book an apartment unit in a building for a short-term stay. The hospitality units will wind down in the building as it leases up with long-term residents. Amenities include a heated pool, fitness center, rooftop lounge, club room, and a pet spa. So far in 2025, Placemakr has launched its services in five new properties nationwide, including the cities of Salt Lake City, Santa Clara, San Antonio, and Pittsburgh. PMZ Realty Capital LLC has secured a $5.3 million loan for the Hampton Inn Marysville, located in Marysville, Ohio. The loan was placed through a debt fund and features interest-only payments for the full five-year term. The loan proceeds provided capital for the new ownership to acquire the property and to implement a change-of-ownership property improvement plan. The 83-room Hampton Inn Marysville features a fitness center, an indoor pool with a whirlpool, and two meeting rooms. Personnel News CBRE announced the appointment of Susie Park as an Executive Vice President for CBRE Hotels, where she will lead asset management engagements in the Americas, focusing on branded and independent luxury/lifestyle assets. Prior to joining CBRE, Park served as Co-lead of JLL's Hotel Asset Management division in the Americas. Vail Resorts said former longtime leader Rob Katz would return to the Chief Executive role, effective immediately, after a tough winter season for the ski resort company. As part of the leadership shake-up, CEO Kristen Lynch is stepping down after more than three years in the top job and will stay on for several months as an advisor. Marriott Vacations Worldwide Corporation announced the appointment of Christian Alejandro Asmar to its Board of Directors. Mr. Asmar is the co-founder and managing Partner of Impactive Capital, which owns approximately 9.5% of the outstanding shares of MVW. Following Mr. Asmar's appointment, MVW's board will consist of 12 directors, 11 of whom are independent. Also, the company plans to establish two new ad hoc board committees. One of these committees is expected to focus on advising the Board on the company's modernization efforts aimed at revenue growth and cost efficiencies, of which Mr. Asmar will be a member, and a second committee is expected to advise the Board on the company's technology innovation strategy. Preferred Travel Group announced the appointment of Philipp Weghmann as Chief Development Officer. In this newly created executive position, Weghmann will lead company-wide development initiatives to accelerate strategic growth and innovation. He will also serve as President of Beyond Green, reflecting Preferred's deepened commitment to expanding the brand's presence and impact around the world. Most recently, Weghmann served as Vice President and Global Brand Leader for The Luxury Collection at Marriott International. Global Highlights According to the May 2025 World Tourism Barometer from UN Tourism, over 300 million tourists traveled internationally in the first three months of 2025, a 5% rise from last year and 3% more than in pre-pandemic year 2019. The World Tourism Barometer breaks down the data for the first quarter of 2025 by region and sub-region. Key highlights show: Europe welcomed 125 million international tourists in the first three months of the year, up 2% from Q1 2024, and 5% more than the same period before the pandemic. In Southern Mediterranean Europe, arrivals increased by 2%. Central and Eastern Europe rebounded strongly (+8% over 2024), especially Baltic destinations, though visitor numbers in the sub-region remain below 2019 levels. Africa recorded 9% growth in arrivals in Q1 2025, compared to 2024, exceeding pre-pandemic traveler numbers by 16%. The Americas saw 2% more international arrivals, with several destinations in South America (+13%) enjoying strong results during the Southern Hemisphere summer season. The Middle Eastrecorded 1% growth compared to 2024. However, arrivals stood 44% above pre-pandemic levels this first quarter of the year. Arrivals in Asia and the Pacific grew 12%, reaching 92% of pre-pandemic numbers. North-East Asia saw the strongest performance among world sub-regions with a 23% rebound in Q1 2024 to reach 91% of 2019 levels. Europe Highlights IHG Hotels & Resorts has announced the new Kimpton Atlantico Algarve opened in Portugal, the brand's first resort in the country. Perched on the sands of Sao Rafael Beach, Kimpton Atlantico Algarve features 149 rooms and suites, multiple dining venues, and a wellness sanctuary with a heated indoor pool, a hydro active spa circuit with a flotation tank, Jacuzzi, sauna, Turkish baths, and a gym.
Mail & Guardian
3 days ago
- Business
- Mail & Guardian
Clean energy must extend beyond megawatts and minerals
The energy transition itself carries human rights risks. If clean energy is built on compromised rights, it will not be sustainable in the long term. Photo: Waldo Swiegers/Bloomberg/Getty Images As Africa enters a critical decade of energy development and industrialisation, the demand for reliable power, sustainable infrastructure and clean energy sources is reshaping the investment landscape. At the same time, the imperative to transition responsibly — without infringing on the rights of people — is more urgent than ever. Business and Human Rights (BHR) offers a framework for managing this tension. Rooted in the UN Guiding Principles on Business and Human Rights, it sets out how businesses should respect human rights throughout their operations and supply chains and how states must protect those rights through regulation, enforcement and access to remedy. For energy stakeholders — governments, investors, developers and people — BHR is no longer a peripheral concern. It is a core driver of responsible growth, risk management and legitimacy in a rapidly evolving global and African energy ecosystem. BHR is anchored in three foundational pillars of the Guiding Principles on Business and Human Rights: The state duty to protect human rights through policies, regulation and enforcement; The corporate responsibility to respect human rights by, among other things, conducting human rights due diligence; and Access to remedy for individuals and communities affected by business-related harm. While once viewed as a voluntary commitment, these principles are increasingly being entrenched in binding legal frameworks. Recent instruments such as the EU Corporate Sustainability Due Diligence Directive, Germany's Supply Chain Act, and France's Duty of Vigilance Law impose legal obligations on companies (including private enterprises) to identify, prevent and mitigate human rights and environmental risks across global value chains — and create liability for failing to do so. Energy projects — whether related to oil, gas, renewables or critical mineral extraction — have a high human rights risk profile. Common risks include: Displacement of communities through land acquisition or infrastructure expansion; Adverse impacts on indigenous peoples' cultural rights; Inadequate stakeholder engagement and lack of free, prior and informed consent; Labour rights violations in construction and mineral supply chains; Environmental degradation affecting water, health and livelihoods; and The use of excessive security forces or militarisation of project zones. In an age of rising stakeholder activism, environmental, social, and governance litigation and reputational exposure, energy companies that fail to integrate BHR into their business models risk project delays, financing constraints, legal liability and community opposition. Conversely, companies that lead on BHR create resilience, de-risk investments and foster enduring partnerships with governments and communities. Africa is poised to become one of the most dynamic frontiers for energy investment globally. The continent's population is growing rapidly, with urbanisation and industrialisation driving exponential energy demand. At the same time, Africa is richly endowed with renewable resources and critical minerals that are essential to the global clean energy transition. Energy investment opportunities include: Utility-scale solar, wind and hydro projects powering urban growth; Off-grid and mini-grid solutions bringing electricity to underserved rural areas; Cross-border energy infrastructure that links regional power pools and boosts energy security; Hydrogen, green ammonia and energy storage ventures attracting global partnerships; and Local beneficiation and value addition of critical minerals such as cobalt, lithium and graphite. Countries such as South Africa, Kenya, Namibia, Egypt and the Democratic Republic of the Congo are already hubs of activity. Projects such as South Africa's Renewable Energy Independent Power Procurement Programme, Kenya's Lake Turkana Wind Power Project and Namibia's ambitions in green hydrogen are reshaping the narrative. However, several of these projects have encountered friction regarding land use, community engagement and benefit sharing. African energy development often intersects with vulnerable communities, informal land tenure, historical marginalisation and weak governance environments. Failing to address these dynamics invites risk; integrating BHR (the duty to respect human rights as distinct from state obligations) offers a pathway to do better. It can help companies build and maintain a social licence to operate; secure funding from development finance institutions and ethical lenders that mandate human rights due diligence; prevent litigation, protests and reputational harm and align with host government development goals and Africa's Agenda 2063. Agenda 2063 seeks to position Africa as a global powerhouse, one committed to inclusive and sustainable development. This mirrors the core language and aims of BHR. For African states, embedding BHR into national energy policy enhances investor confidence and future-proofs infrastructure development. It also empowers governments to regulate more effectively and ensure that energy development is not only fast — but fair. While Africa is on the cusp of major energy and infrastructure development, recent legal developments in the Global North offer cautionary insights: Shell vs Okpabi (UK): The UK Supreme Court confirmed that parent companies can be held liable for human rights harms caused by foreign subsidiaries. Although the case arose from alleged environmental damage in the Niger Delta, the precedent may apply well beyond that context. TotalEnergies climate litigation (France): NGOs sued the oil major under France's Duty of Vigilance Law, which creates binding obligations on entities (including parent companies) to identify, prevent, mitigate and redress human rights and environmental impacts resulting from their own activities, as well as those companies under their control, subcontractors and suppliers. Fosen Wind Farm case (Norway): The Norwegian Supreme Court ruled that land expropriation and licensing for certain wind farms violated the rights of Sámi indigenous reindeer herders under international law, highlighting the importance of free, prior and informed consent, even in the context of renewable energy development. These cases reinforce that the energy transition itself carries human rights risks. Whether in the Global North or South, renewable does not automatically mean responsible. If clean energy is built on compromised rights, it will not be sustainable in the long term. By embedding Business and Human Rights into the DNA of energy projects, the continent can avoid replicating extractive models of the past and build an energy future that is clean, inclusive and equitable. Pooja Dela and Dylan Cron are partners at Webber Wentzel.
Skift
4 days ago
- Business
- Skift
Pebblebrook Sues San Francisco Over Hotel Valuations
Pebblebrook has challenged the market value assessments that the city assigned to and used to collect taxes from a group of downtown hotels purchased by the REIT in 2018. The DJIA surged 741 points, the Nasdaq was up 462 (2.5%) and the S&P 500 was up 2% at 119 points. The 10-year treasury yield was down .08 to 4.43% and lodging stocks were higher. The big winner today was BHR with a 22% rise followed by INNup 8%, SVR up 6%, and then PEB and HST both up 5%. Baird reported on investor meetings they hosted with Host Hotels & Resorts' management team. Baird was impressed as they designated HST as a Bullish Fresh Pick. HST said that top-line performance in May has been tracking better than expected and the company is not seeing any incremental demand deterioration or pricing sensitivity. We really don't need to go much further than that. HST continues to view share repurchases as an attractive use of capital, especially at current levels. Hyatt Hotels Corporation announced they extended the offering period, again, for its cash tender offer to purchase all the outstanding ordinary shares of Playa Hotels & Resorts NV for $13.50 a share in cash. The tender offer is now expected to close on June 9th at 5 p.m. Eastern Time. The Element by Westin Calgary Downtown plans to open early this summer with 226 suites, a café, and a rooftop restaurant. Grayson Capitol announced the construction of a 132-room Tribute Portfolio Hotel, in Kansas City, Missouri, adjacent to the new Negro Leagues Baseball Museum. The new hotel will include an upscale restaurant and a rooftop bar. The town of Wasaga Beach, Ontario, announced Sunray Group will now move forward with plans to build an approximately 120-room Marriott hotel on town-owned land. The Marriott hotel will include a year-round restaurant; convention facilities; a fitness, spa or pool area; commercial shops, and wedding facilities. The hotel is phase one of what will be a four-phase project near the town's iconic beachfront. Sunray Group will invest over $45 million to build the hotel and will pay full development charges for all four phases of the project. The company will also invest $1.5 million to design and build 'Festival Square' next to the hotel, near the beachfront which will be used by the municipality for outdoor entertainment and special events. The town and Sunray have also entered into a joint profit-sharing agreement for three additional phases of development, which are expected to include additional amenities and homes near Beach Area 1. A-1 Hospitality Group broke ground on a new 163-room AC Hotel by Marriott in Kennewick, Washington. Located at the Three Rivers Convention Center, the hotel will operate as a franchise owned by A-1 Three Rivers Hotels, LLC and managed by A-1 Hospitality Group. The new five-story property will include an indoor pool, fitness center, rooftop restaurant and bar, and six meeting rooms with a combined 12,000 square feet of functioning meeting space. Vision Hospitality Group, Inc. broke ground on a new dual-branded Home2 Suites by Hilton and Tru by Hilton Lookout Valley in Chattanooga, Tennessee. Construction is now underway, with an expected opening in the fall of 2026. The hotel will be a key component of the newly planned 10-acre, mixed-use master development, also being developed by Vision. In addition to the hotel, the development will feature nationally recognized restaurants and retail concepts. The hotel property will feature 150 guest rooms (82 Home2 Suites/68 Tru by Hilton); an expensive, resort-style outdoor aquatic recreation area with a pool, in-water sun shelf, water features, a slide, a poolside bar with lounge seating, grilling stations, and fire pits. On the inside, the hotel features a lobby bar with a gaming area, fitness center, and laundry facilities. Magna Hospitality Group sold the Hilton Garden Inn, in Evanston, Illinois, to a venture led by Parag Patel for $18 million, after buying for $23 million in 2016. The purchase is the latest in a string of acquisitions in the Chicago area led by Patel. Swire Properties' planned Residences at the Mandarin Oriental Miami hit a sales milestone with the South Tower reaching $1 billion in condo deals, making the 66-story structure 50% sold. The two-tower project is expected to rise on the site of the existing 326-room Mandarin Oriental hotel that will be demolished next year. The hotel is closing its doors at the end of the month to make room for the new project that will include Mandarin Oriental's North American flagship hotel in the proposed North Tower. The South Tower comprises 228 residential units. Plans for the North Tower include 121 hotel rooms, 28 hotel residences and an additional 66 private residences, with sales expected to launch later this year. Completion of the project is expected in 2030. The Bright Group announced the opening of Dayton Vitality Hotel located in Dayton, Ohio, and directly connected to the Dayton Convention Center via skywalk. The Dayton Vitality Hotel features self-check-in, a pool, fitness center, communal spaces, a rooftop bar, and expansive meeting and event spaces. The Bright Group plans five additional Vitality openings through 2026 including Marietta, Georgia - targeting a late-August 2025 debut. Orlando, Florida; Tulsa, Oklahoma; and Reading, Pennsylvania - scheduled for phased openings through 2025 and 2026. The Compass Hotel by Margaritaville Flagler Beach opened on May 21. Located in Flagler Beach, Florida, the hotel has 100 rooms and suites, a restaurant and a rooftop bar. A long-vacant Sears in Titusville, Florida, is set for a major transformation. The Brevard County Commission and the city of Titusville approved plans to redevelop the 22-acre site into a new project called 'Titusville Resort and Destination.' The proposed development includes apartments, a hotel, an assisted living facility, restaurants, and other amenities. Demolition is expected to begin soon, followed by construction. Last week, the city of San Francisco was hit with a lawsuit by Pebblebrook, which has challenged the market value assessments that the city assigned to and used to collect taxes from a group of downtown hotels purchased by the REIT in 2018, according to the San Francisco Chronicle. While the dispute is rather technical, Pebblebrook's allegations are straightforward: it has accused the city of using 'erroneous, invalid, and illegal assessment methodologies' in determining the fair market values of four hotels in the Union Square and SoMa neighborhoods that Pebblebrook acquired through a portfolio merger with its one-time competitor, LaSalle Hotel Properties. Pebblebrook is now seeking a refund of 'any and all' taxes it paid based on the city's original assessments of the properties. Personnel News Mr. J. Robison Hays, III, tendered his resignation from the Board of Directors ofAshford Hospitality Trust, Inc., to be effective as of that date, according to an 8K filed by the company. On May 23, 2025, the Board appointed Mr. Stephen Zsigray, the Chief Executive Officer and president of the company, as a member of the Board, effective immediately, to serve until the next annual meeting of stockholders of the company and until his successor is duly elected and qualified. Mr. Zsigray will not serve on a Board Committee. The Elser Hotel, a luxury 49-story tower in the heart of Downtown Miami, announced the appointment of Sean Flanigan as acting manager director and Vice President of Operations at Highgate, the property's management company and a leading global hospitality management company. Flanigan will oversee all facets of The Elser Hotel's operations, including performance management, sales, revenue strategy, marketing, and guest services. Flanigan most recently served as Regional Vice President for AKA Hotels & Residences in Florida. Whitbread appointed Christine Hodgson as chair, taking effect on September 1. Hodgson will replace Adam Crozier, who will step down and retire from the Board on the same date. Hodgson is also chair of Severn Trent and has worked for Capgemini. Edgar Suites has appointed Casilda Mulliez as Director of Real Estate Development for Spain and Portugal. Mulliez's responsibilities will include identifying new real estate opportunities, particularly on the Iberian Peninsula, to support Edgar Suites' growing portfolio of high-end aparthotels. Mulliez's experience spans roles at Deloitte, Aquila Asset Management, Batipart, and Urban Campus. Global Highlights Kerzner International Holdings Limited and Sunset Hospitality Group entered a strategic joint venture to drive the global expansion of the Tapasake concept. SHG and Kerzner will join forces to expand the Tapasake brand as a stand-alone lifestyle concept outside the One&Only portfolio for the first time. Building on its existing presence in Dubai, the Maldives, Montenegro, and Mauritius, this joint venture will scale the brand across additional key international destinations, with further global markets currently in development. As part of the evolved vision, Tapasake's location in Dubai, perched atop The Link, will temporarily close in June 2025 for a complete transformation. Tapasake Dubai will reopen in the fourth quarter of 2025 with refreshed interiors, a new culinary direction, updated brand identity, and an immersive guest journey.
Yahoo
08-05-2025
- Business
- Yahoo
Braemar Hotels & Resorts (BHR) Q1 FFO and Revenues Surpass Estimates
Braemar Hotels & Resorts (BHR) came out with quarterly funds from operations (FFO) of $0.40 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to FFO of $0.42 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 17.65%. A quarter ago, it was expected that this hotel owner would post FFO of $0.10 per share when it actually produced a loss of $0.06, delivering a surprise of -160%. Over the last four quarters, the company has surpassed consensus FFO estimates just once. Braemar Hotels & Resorts , which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $215.82 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 7.96%. This compares to year-ago revenues of $219.08 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call. Braemar Hotels & Resorts shares have lost about 35.3% since the beginning of the year versus the S&P 500's decline of -4.7%. What's Next for Braemar Hotels & Resorts? While Braemar Hotels & Resorts has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions. Ahead of this earnings release, the estimate revisions trend for Braemar Hotels & Resorts: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus FFO estimate is $0.07 on $166.8 million in revenues for the coming quarter and $0.29 on $681.8 million in revenues for the current fiscal year.
Yahoo
08-05-2025
- Business
- Yahoo
Braemar Hotels & Resorts: Q1 Earnings Snapshot
DALLAS (AP) — DALLAS (AP) — Braemar Hotels & Resorts, Inc. (BHR) on Wednesday reported a key measure of profitability in its first quarter. The Dallas-based real estate investment trust said it had funds from operations of $29.1 million, or 40 cents per share, in the period. Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had a loss of $2.5 million, or 4 cents per share. The hotel owner posted revenue of $215.8 million in the period. In the final minutes of trading on Wednesday, the company's shares hit $1.92. A year ago, they were trading at $2.68. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on BHR at
