Sign In
Free Newsletter
Hilton to sell $1.5B in private debt offering
While the hospitality industry continues to struggle amid the pandemic, McLean-based Hilton Worldwide Holdings Inc. announced Tuesday it will sell $1.5 billion in debt in a private offering to institutional buyers. This mark’s Hilton’s second major debt offering within the past couple of months. In November 2020, Hilton announced its $1.9 billion debt offering, from […]
Va. hotel revenues remain 51% lower than last year
Virginia hotel revenues continue to decline by more than 50% when compared with last year, according to data released Wednesday from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. Hotel revenues in Virginia dropped by 51% and rooms sold declined by 33% last week, compared with the […]
Hilton to sell $1.9B in debt in private offering
As hotel industry revenues continue plummeting, McLean-based Hilton Worldwide Holdings Inc. announced this week it will sell $1.9 billion in debt in a private offering to institutional buyers. The hotelier will sell $800 million of senior notes (due in 2029) at a 3.75% interest rate and an additional $1.1 billion at a 4% rate. Those […]
More than $1.9M in grants going to Va.’s tourism industry
While COVID-19 continues to slam the tourism and hospitality industries, Gov. Ralph Northam announced Monday that more than $1.9 million in matching grants will be disbursed among 161 local tourism initiatives as part of Virginia Tourism Corp.’s Recovery Marketing Leverage Program (RMLP). Although Virginia’s tourism industry had another record year in 2019, posting $27 billion […]
Va. hotel revenues likely to remain low through holidays
With the holiday season looming, Virginia hotel revenues continue to decline when compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Nov. 1 through Nov. 7, hotel revenues in Virginia decreased by 53% and rooms sold […]
Hotel revenues stay low as pandemic enters eighth month
Moving into the eighth month of the pandemic, Virginia hotel revenues continue to decline when compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Oct. 25 through Oct. 31, hotel revenues in Virginia decreased by 45% […]
Va. hotel revenues stay at steady decline
As the pandemic surges on, Virginia hotel revenues remain at a steady decline when compared to last year, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Oct. 18 through Oct. 24, hotel revenues in Virginia decreased by 50% and […]
Va. hotel revenues continued to improve last week
Virginia hotel revenues continued to improve last week, according to data released Wednesday by STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Aug. 23 through Aug. 29, hotel revenues decreased by 38% and rooms sold declined by 27% compared to the same week […]
Hospitality | Tourism
NEIL P. AMIN CEO, SHAMIN HOTELS, RICHMOND Like other hoteliers, Shamin Hotels has been hit by the near evaporation of business travel. Amin is CEO of the company, which owns some five dozen properties and is the largest hotel operator in the Richmond region. Amin graduated The Wharton School at the University of Pennsylvania, where […]
Hotels saw 66% revenue drop in late May compared to 2019
Suffering the economic impacts of the coronavirus pandemic, Virginia hotels saw revenues drop 66% for the last week in May compared to the same time a year ago, according to findings released Wednesday by Old Dominion University’s Dragas Center for Economic Analysis and Policy. Rooms sold were also down by 50% and the average daily […]
Top-ranked Virginia hotel has 23 rooms and five stars
After analyzing more than 30,000 hotels in the U.S., Europe, Canada, Mexico, Bermuda and the Caribbean, the U.S. News & World Report released its Best Hotels in the USA 2020 rankings on Tuesday, and three five-star Virginia hotels topped the list of the best hotels in the commonwealth. The Inn at Little Washington, a five-star […]
