Loews Hotels Undergoes Biggest-Ever Expansion
Skift Take
Loews Hotels is undergoing its largest expansion, opening three new Orlando hotels with Comcast’s Universal, adding 2,000 rooms and reaching 11 properties in the area.
The DJIA fell 83 points, but the Nasdaq tried to stage a comeback, up 212, while the S&P 500 was up 27 points. The 10-year treasury was up .03 to 4.32%. PK, H, PEB, HST, APLE, and VAC traded down to new lows today. SVC was up 8%, but SHCO plunged another -7%. The stock was $4.91 when the going private transaction at $9 was announced. It rallied close to that when Dan Loeb of Third Point sent a letter saying he wanted the company to undergo a bidding process. The stock is now $5.48. Has anyone heard from Loeb?
STR reported U.S. lodging data for the week ended 3/8. U.S. hotel RevPAR was up 0.6% year over year. ADR was up 2.1%, offsetting the -1.4% decline in occupancy. Group RevPAR was up 3.1%.
The Moana Surfrider, A Westin Resort & Spa, Waikiki Beach is undergoing renovations totaling $24.8 million, including updates to 791 guestrooms and suites, the property’s historic lobby, and the addition of a new oceanfron
