The Hotel Terminal Cap Rate Dilemma

Persistent low, long-term interest rates and the no-end-in-sight recovery of the lodging sector create a dilemma for hotel Discounted Cash Flow (DCF) number crunchers regarding the selection of a terminal cap rate (the rate used to estimate resale value at the end of the holding period).

Janus Hotels and Resorts, Inc. Finalizes Gain From Short-Term Refinancing of Four Hotel Properties

Janus Hotels and Resorts, Inc. (Nasdaq:JAGI), a Florida-based hospitality company, announced today that it has finalized the gain calculation related to the short-term refinancing of four hotel properties which it owns in the vicinity of Cleveland, Ohio that was previously reported on August 7, 2002. The Company previously estimated a pre-tax gain of approximately $6,816,000 … Read more

Prime Hospitality Corp. Announces the Redemption of its 9-1/4% First Mortgage Notes

FAIRFIELD, N.J., Aug. 22 /PRNewswire-FirstCall/ — Prime Hospitality Corp. (NYSE:PDQ) (Prime) announced that as of August 21, 2002 it has redeemed all of its outstanding 9-1/4% First Mortgage Notes. The redemption price was 103.083% of the $104 million outstanding principal amount of the 9-1/4% First Mortgage Notes, plus accrued and unpaid interest, to, but not … Read more

Jameson Inns Announces Preferred Dividends for Third Quarter

Jameson Inns, Inc. (NASDAQ:JAMS), today announced that its Board of Directors has declared the Company's regular quarterly cash dividend distributions on its two series of preferred shares. The Board declared a cash dividend of $.578125 per share of the Company's 9.25% Series A Cumulative Preferred Stock (NASDAQ:JAMSP) for the quarter of 2002. The cash dividend … Read more

LaSalle Hotel Properties Announces Second Quarter Dividend Company Declares Second Quarter Dividend of $0.01 Per Share

BETHESDA, Md., July 15 /PRNewswire-FirstCall/ — LaSalle Hotel Properties (NYSE:LHO) today announced its quarterly dividend of $0.01 per share of its common shares of beneficial interest for the second quarter ended June 30, 2002. The dividend is payable on August 15, 2002 to shareholders of record as of July 31, 2002. LaSalle Hotel Properties is … Read more

Prime Hospitality Corp. Reports Second Quarter Results

FAIRFIELD, N.J., July 30 /PRNewswire-FirstCall/ — Prime Hospitality Corp. (NYSE:PDQ), a leading hotel owner, operator and franchisor, reported its results for the second quarter and six months ended June 30, 2002. Net income before asset transactions and other charges for the second quarter was $6.1 million, or $.13 per share, compared to $11.7 million, or … Read more

Janus Hotels and Resorts, Inc. Announces Notification by Nasdaq of the Potential Delisting of its Common Stock

BOCA RATON, Fla.–(BUSINESS WIRE)–Aug. 8, 2002–Janus Hotels and Resorts, Inc. (Nasdaq:JAGI), a Florida-based hospitality company, announced today that it has been notified by The Nasdaq Stock Market, Inc. that the Company's common stock has closed for more than 30 consecutive trading days below the minimum $1.00 per share requirement for continued inclusion on the Nasdaq … Read more

Candlewood Hotel Company Plans Listing on OTC Bulletin Board

WICHITA, Kan., June 17 /PRNewswire-FirstCall/ — Candlewood Hotel Company, Inc. (NASDAQ:CNDL) announced today that it intends to apply to list its common stock on the Over the Counter Bulletin Board. The decision was made following receipt of a notice from The Nasdaq SmallCap Market that it no longer satisfies the net tangible assets continued listing … Read more

MeriStar Hospitality Corporation Declares Second-Quarter Dividend

WASHINGTON–(BUSINESS WIRE)–June 26, 2002–MeriStar Hospitality Corporation (NYSE: MHX), the nation's third largest hotel real estate investment trust (REIT), today announced that its Board of Directors has declared a common share dividend of $0.01 per share for the 2002 second quarter, the same rate it paid in the first quarter. The common dividend is payable July … Read more