HotelNewsNow.com updates news from the hotel sector’s public companies on Friday. Following are updates for: Rezidor and Supertel.
Baird/STR Hotel Stock Index
The Baird/STR Hotel Stock Index closed Thursday at 2185.40. It was at 2181.42 as of 10 a.m. eastern Friday.
Rezidor
Brussels, Belgium-based Rezidor (OMX: REZT) has formed a new entity with Carlson named The Carlson Rezidor Hotel Group.
The two companies will remain separate legal entities. Carlson remains a majority shareholder of Rezidor and did not acquire any additional shares in conjunction with the announcement.
Supertel
Real Estate Strategies LP, the investment arm of Argentinean-based IRSA Inversiones y Representaciones Sociedad Anónima, has agreed to increase its investment in Norfolk, Nebraska-based Supertel Hospitality (Nasdaq: SPPR) by US$30 million, subject to shareholder approval.
The two companies entered into a purchase agreement in November for the issuance and sale of 2 million Supertelpreferred shares for US$20 million.
Supertel’s stock price closed Thursday at 83 cents per share, down 50% during the past 12 months.
Compiled by Shawn A. Turner.