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Condor Hospitality's Hotels Revamped to Drive Revenue Growth

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Macerich's (MAC) Scottsdale Fashion Square Gets New Lineup

The Macerich Company (MAC) opens Scottsdale Fashion Square's refurbished luxury wing. The face-lift enables the mall to add an impressive tenant lineup to its roster.

Condor Hospitality Trust, Inc. CDOR made a few capital improvements in in its hotels, the Aloft Leawood Kansas City and the Marriott Courtyard Jacksonville Florida. The improvements were done with the aim to improve the experience for the guests.

The guestrooms and hallways have been modernized at the Aloft Leawood Kansas City hotel, using new wall-coverings, changed lightings and customized carpet, which is in sync with the new design structure at Aloft, which was executed by Marriott.

On the other hand, a firepit was constructed in the outdoor courtyard near the pool at the Marriott Courtyard Jacksonville. Some more recreational activities were included in the same area.

Further, Hampton Inn Lake Mary is being renovated by Condor.  The changes include an improved business center, a sophisticated front desk, an innovative grab-and-go option and an additional meeting space.

Jeff Dougan, Condor’s chief operating officer, informed, “We will continue to evaluate opportunities to further enhance  our portfolio through smart capital expenditure investments that improve the guest experience and further enable us to drive RevPAR and margin outperformance relative to our peers and national averages."

These redevelopment efforts are likely to lure customers and in turn drive the revenues higher.

Shares of the company outperformed its industry over the past three months, recording growth of 2.2% compared with industry’s decline of 6.8%.

Currently, Condor has a Zacks Rank #3 (Hold).

Stocks Worth a Look

A few better-ranked stocks from the same industry include Arbor Realty Trust ABR, Extra Space Storage Inc. EXR and Sotherly Hotels Inc. SOHO. All three stocks carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Arbor Realty Trust’s Zacks Consensus Estimate for 2018 FFO per share has been revised 2.3% upward to 90 cents over the past month. Its share price has risen 11.2% in six months’ time.

Extra Space Storage’s FFO per share estimates for the current year moved up 2% to $4.57 in a month’s time. Its shares have gained 6.9% over the past six months.

Sotherly Hotels’ FFO per share estimates for 2018 have been revised upward approximately 1.9% to $1.05 over the past month. The stock has gained 5.4% during the past six months.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.

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