HotelNewsNow.com provides a roundup of news from the hotel industry’s publicly traded companies on Friday. Following are updates for: Starwood Hotels & Resorts Worldwide, Supertel Hospitality, and Wynn Resorts Limited.
Baird/STR Hotel Stock Index
The Baird/STR Hotel Stock Index closed Thursday at 2246.90. It was at 2280.74 as of 10 a.m. Eastern Standard Time Friday.
Starwood Hotels & Resorts Worldwide
Stamford, Connecticut-based Starwood Hotels & Resorts Worldwide (NYSE: HOT) reported a 5.9% increase in revenue per available room during the fourth quarter compared to the same quarter in 2010, while earnings per share was 71 cents.
Net income for the full year was US$489 million and US$2.51 per share compared to US$477 million and US$2.51 per share in the same period during 2010.
Starwood opened nearly 21,000 rooms during the year—the most in its history. When combined with a full-year RevPAR increase of 7.4%, the company’s fees increased 14.3%.
The company’s stock price closed Thursday at US$54.22 per share, up 13.03% year to date.
Supertel Hospitality
Shareholders of Norfolk, Nebraska-based Supertel Hospitality (Nasdaq: SPPR) approved the US$30-million investment in the company by Real Estate Strategies LP, an investment vehicle indirectly controlled by IRSA Inversiones y Representaciones Sociedad Anónima, an Argentinean-based publicly traded company.
Shareholders approved the sale of 3 million shares of preferred stock and 30 million common shares to Real Estate Strategies, with warrants to purchase an additional 30 million shares.
The real-estate investment trust’s stock closed Thursday at US$1.02 per share, up 54.15% year to date.
Wynn Resorts Limited
Las Vegas-based Wynn Resorts Limited (Nasdaq: Wynn) said its net income climbed by more than 50% during the fourth quarter to US$258.26 million. Revenue increased by 25.9% to US$5.27 billion.
The company’s stock price closed Thursday at US$120.78 per share. The shares are up 4.65% year to date.
Compiled by Shawn A. Turner.