Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Loews Corporation    L

SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Loews Corporation : Hotel industry looks for deal pace to pick up

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/28/2012 | 02:00am CEST

Hotel companies and real estate firms are optimistic that deal transactions will pick up this year despite concerns about Europe's economy and challenges in obtaining debt financing.

While a business-led economic recovery has helped lift U.S. hotel occupancy rates, development is still a soft spot as tight credit conditions have limited new-hotel builds. Still, there is a growing sense that the hotel sector has momentum and performance will continue to improve.

"People are expecting 2012 to be a pretty positive year, with solid performance by the industry in terms of the demand for hotel accommodations and the ability to get deals done," Arthur de Haast, chairman of Jones Lang LaSalle Hotels, said at this week's Americas Lodging Investment Summit.

The hotel investment services firm has forecast that hotel deals in the Americas this year will at least match the 2011 level in value of an estimated $15 billion.

U.S. hotel deal activity picked up in the first half of 2011 but calmed in the latter part of the year as debt woes in Europe began dominating the headlines.

While Europe is still a risk, attendees at the three-day hotel conference said a continued recovery marked by rising room rates would make the sector attractive for investment.

"There's a lot of money on the sidelines waiting to pounce and find opportunities," said Christian Charre, president and chief executive of the Charre Group, a Florida-based hotel brokerage and consulting firm.

FOREIGN MONEY

Private equity funds that have capital will be in a good position to make acquisitions, some said. Real estate investment trusts were active buyers in the first half of 2011 but are expected to be quieter this year as their share prices suffered in the latter part of 2011.

"The mix of the investors probably will change," said Sri Sambamurthy, co-founder of real estate firm West Point Partners in New York. He said Middle Eastern, European and Asian investors especially find the U.S. market to be extremely attractive now.

"The U.S. is still considered very safe, the dollar has performed extraordinarily well," Sambamurthy added.

Hotel companies said they were looking to make acquisitions in a bid to expand their reach.

"No question that we'll be active in the marketplace in 2012," said Paul Whetsell, president and chief executive of Loews Hotels, which owns and/or operates 18 hotels. The unit of Loews Corp (>> Loews Corporation) has committed more than $500 million to acquiring hotels or developing new properties.

Whetsell said Loews is looking for 4-star or higher-rated hotels in major cities where it does not have a presence such as Boston, Washington, San Francisco, Chicago and Los Angeles, as well as smaller markets like Charlotte, North Carolina, and Baltimore, Maryland.

Choice Hotels International (>> Choice Hotels International, Inc.), which franchises hotels focused mainly at the mid-tier and economy market segments under brands such as Comfort Inn and Econo Lodge, said it is in the hunt to acquire a value-oriented, full-service upscale brand that would help attract more business customers.

"We clearly would be a very aggressive purchaser of brands that come up," Choice Chief Executive Steve Joyce said in an interview [ID:nL2E8CO1IS].

(Editing by Gary Hill)

By Karen Jacobs

Stocks treated in this article : Loews Corporation, Choice Hotels International, Inc.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LOEWS CORPORATION
02/27 LOEWS CORPORATION : ex-dividend day
02/16 LOEWS : Management's Discussion and Analysis of Financial Condition and Results ..
02/13 LOEWS CORPORATION (NYSE : L) Files An 8-K Results of Operations and Financial Co..
02/13 LOEWS : Results of Operations and Financial Condition (form 8-K/A)
02/13 LOEWS : Diamond Offshore Announces Tax Expense Adjustment to Fourth Quarter and ..
02/06 LOEWS CORP : Results of Operations and Financial Condition, Financial Statements..
02/06DJLoews Swings to Profit as Revenue Increases
02/06 LOEWS : beats 4Q profit forecasts
02/06 LOEWS : Diamond Offshore Announces Fourth Quarter 2016 Results
01/17 LOEWS : Diamond Offshore to Release Fourth Quarter 2016 Results on February 6
More news
Sector news : Property & Casualty Insurance - NEC
03/24DJSAMPO OYJ SAMPO PLC : Disclosure Under Chapter 9 Section 5 Of The Securities Mar..
03/23DJSAMPO OYJ SAMPO PLC : Disclosure Under Chapter 9 Section 5 Of The Securities Mar..
03/21DJSAMPO OYJ SAMPO PLC : Disclosure Under Chapter 9 Section 5 Of The Securities Mar..
03/21DJSAMPO OYJ : Sampo's Annual Report 2016 Has Been Published
03/20 British regulator to focus more on protecting insurance policyholders
More sector news : Property & Casualty Insurance - NEC
News from SeekingAlpha
02/14 Loews Corporation declares $0.0625 dividend
02/06 Loews (L) Q4 2016 Results - Earnings Call Transcript
02/06 Loews Corporation 2016 Q4 - Results - Earnings Call Slides
02/06 Loews beats by $0.16, beats on revenue
02/05 Notable earnings before Monday?s open
Advertisement
Financials ($)
Sales 2017 13 502 M
EBIT 2017 2 239 M
Net income 2017 976 M
Debt 2017 -
Yield 2017 0,54%
P/E ratio 2017 15,61
P/E ratio 2018 14,85
Capi. / Sales 2017 1,15x
Capi. / Sales 2018 1,14x
Capitalization 15 499 M
More Financials
Chart LOEWS CORPORATION
Duration : Period :
Loews Corporation Technical Analysis Chart | L | US5404241086 | 4-Traders
Full-screen chart
Technical analysis trends LOEWS CORPORATION
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 43,0 $
Spread / Average Target -6,6%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
James S. Tisch President, Chief Executive Officer & Director
Andrew H. Tisch Co-Chairman
Jonathan M. Tisch Co-Chairman
David B. Edelson Chief Financial Officer & Senior Vice President
Herb E. Hoffmann Vice President-Information Technology
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
LOEWS CORPORATION-1.69%15 499
BERKSHIRE HATHAWAY INC..3.35%415 518
TRAVELERS COMPANIES IN..-1.35%33 778
TOKIO MARINE HOLDINGS ..2.00%33 295
ALLSTATE CORP9.27%29 572
SAMPO OYJ2.96%26 451
More Results