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

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

Delayed Quote. Delayed  - 08/23 10:02:51 pm
41.48 USD   +0.02%
08/23 LOEWS : Todays Top Gainers in the Market Loews Corporation from Fina..
08/20 LOEWS : Danny Aiello returns to film at Loews Theater Short film hop..
08/15 LOEWS : Hilton Tucson El Conquistador Golf & Tennis hires and promot..
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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
08/23 LOEWS : Todays Top Gainers in the Market Loews Corporation from Financial
08/20 LOEWS : Danny Aiello returns to film at Loews Theater Short film hopes to revive..
08/15 LOEWS : Hilton Tucson El Conquistador Golf & Tennis hires and promotions
08/01 LOEWS : Management's Discussion and Analysis of Financial Condition and Results ..
08/01 LOEWS CORP : Results of Operations and Financial Condition, Financial Statements..
08/01DJLoews Swings to Surprise Loss on Asset Write Downs
08/01 LOEWS : reports 2Q loss
08/01 LOEWS : Diamond Offshore Announces Second Quarter 2016 Results
07/27LOEWS CORPORATION : half-yearly earnings release
07/12 LOEWS : Diamond Offshore to Release Second Quarter 2016 Results on August 1
More news
Sector news : Property & Casualty Insurance - NEC
08/23 AMERICAN INTERNATIONAL : AIG in talks to sell Lloyd's insurance business to CPPI..
08/23DJAIG in Talks to Sell Lloyd's Insurance Operations to Canada Pension Fund
08/20DJTRAVELERS : Longtime Travelers Cos. CEO Jay S. Fishman Dies -- Update
08/19DJTRAVELERS : Cos. Executive Chairman Jay S. Fishman Dies
08/19DJTRAVELERS : Longtime Travelers Cos. CEO Jay S. Fishman Dies
More sector news : Property & Casualty Insurance - NEC
News from SeekingAlpha
08/09 Loews declares $0.0625 dividend
08/01 Loews (L) James S. Tisch on Q2 2016 Results - Earnings Call Transcript
08/01 Loews Corporation 2016 Q2 - Results - Earnings Call Slides
08/01 Loews EPS of $0.19
07/31 Notable earnings before Monday?s open
Advertisement
Financials ($)
Sales 2016 12 906 M
EBIT 2016 2 079 M
Net income 2016 539 M
Debt 2016 -
Yield 2016 0,60%
P/E ratio 2016 25,76
P/E ratio 2017 12,38
Capi. / Sales 2016 1,08x
Capi. / Sales 2017 1,07x
Capitalization 13 983 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
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 42,0 $
Spread / Average Target 1,3%
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
Charles Michael Diker Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
LOEWS CORPORATION8.02%13 983
BERKSHIRE HATHAWAY INC..12.99%367 107
TRAVELERS COMPANIES IN..3.34%33 622
TOKIO MARINE HOLDINGS ..-16.24%29 621
ALLSTATE CORP10.10%25 393
SAMPO OYJ-23.47%23 227
More Results