|Bid||107.23 x 900|
|Ask||108.95 x 800|
|Day's Range||106.17 - 107.44|
|52 Week Range||65.64 - 107.44|
|Beta (5Y Monthly)||1.06|
|PE Ratio (TTM)||33.90|
|Earnings Date||Feb 11, 2020 - Feb 17, 2020|
|Forward Dividend & Yield||0.60 (0.57%)|
|1y Target Est||103.22|
On the west side of Walt Disney World lies Flamingo Crossings, the theme park giant’s master-planned mixed-use center — and now Disney is sharing more details on new tenants and plans for more additional amenities that are in the works.
There may be a new hotel property coming soon to Central Florida that will add to its luxury-level accommodations near Walt Disney World. Grand Cypress Resort, which is owned by Dallas-based Dart Interests, may have a new Hilton project in the works, sources told Orlando Business Journal. Specifically, the plans may be for a 500-guest room Conrad Hilton flag property — one of the company's 5-star brands.
As the holiday season approaches, Hilton (NYSE: HLT) is announcing the expansion of its innovative food donation initiative to all of its managed hotels across the United States and Canada, representing one of the largest hotel food donation programs to date. The company expects to donate nearly 100 tons of food over the next year – enough to feed more than 160,000 people – while also diverting millions of pounds of food waste from landfills.
If the city's larger hotels aren't able to fill their available rooms, the industry will likely be pushed into a pricing war that will send rates plummeting.
(Bloomberg) -- The job of entertaining 2,000 guests at Monday’s Wall Street Dinner benefitting UJA-Federation fell to former Goldman Sachs CEO, serial tweeter and Elizabeth Warren target Lloyd Blankfein.The moment required levity. Remarks had been serious, emphasizing UJA’s support of initiatives in New York, Israel and dozens of other countries that foster Jewish identity and provide for the poor. The organization also is helping synagogues secure funding for security measures in a world where anti-Semitism and attacks driven by religious hatred are on the rise.UJA Chairman David Moore, a private equity investor, emphasized that some charities are better examples of tzedakah -- or righteous giving -- than others.“When you’re allocating your own philanthropy, make sure that an organization like UJA-Federation gets at least equal footing with the charities, that in one way or another, dovetail back to helping ourselves and our own families,” like a children’s school, he said, before calling Blankfein to the lectern.“I was just re-upping my pledge,“ Blankfein opened, before delivering a joke about Dan Och that got the biggest laugh of the night.Seated next to each other on the dais at the New York Hilton Midtown, the two had apparently spent time catching up on their career moves -- Blankfein departing Goldman Sachs and Och leaving his hedge fund Och-Ziff Capital Management to focus on his family office, Willoughby Capital.“I used to think of him by a firm with a different name, but now it’s Willoughby Capital,” Blankfein said. “So I think yet another Jew has changed his name trying to pass in a WASP-y world.”The event raised $31 million and honored BlackRock co-founder Barbara Novick -- the first woman to receive the Gustave L. Levy Award -- and Angelo Gordon co-Chief Investment Officer Adam Schwartz, who received the Alan C. Greenberg Young Leadership Award. The videos about them leaned heavily on testimonials from the Jewish women in their lives. Aileen Novick called her daughter-in-law “a whiz in the kitchen.” Schwartz’s mother Ellen Levy said, “He is what you see, which is damn good.”Guests on the dais included Blackstone’s David Blitzer, Glenview Capital’s Larry Robbins, Saba Capital’s Boaz Weinstein, John Paulson, Abby Joseph Cohen, Alexandra Lebenthal and former Goldman Sachs partner Stacy Bash-Polley, who closed the program with a Wall Street woman’s perspective on Novick.“Women who want to succeed at the highest level and still find time with their families are often told they need to pick one. Barbara didn’t do that,” Bash-Polley said.Rather, the honoree is an example of how to live a well-rounded life, Bash-Polley said, “as an executive, a mother, a mentor -- and for 16 years, a coach of the Westchester Youth Soccer League.”To contact the reporter on this story: Amanda Gordon in New York at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Steven Crabill, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
On Sunday, December 8th, Hilton hosted the Washington Association of Black Journalists (WABJ) Holiday Party and Scholarship Benefit at the Washington Hilton National Mall to celebrate the achievements and contributions of African American journalists, media and communicators.
Our rundown of real estate happenings in Gwinnett County includes plans for a big new senior community being proposed near the Chateau Élan winery and resort northeast of Atlanta.
(Bloomberg) -- Prince Abdulaziz bin Salman has attended OPEC meetings for three decades, but this was the first time he’s been the star turn.For two days, Saudi Arabia’s new oil minister appeared to have stage fright. As he shuttled between Vienna’s ultra-luxury Park Hyatt hotel and the headquarters of the Organization of Petroleum Exporting Countries, he said almost nothing to the massed reporters ready to transcribe his every word.He set the tone for the entire meeting. Normally chatty officials said they couldn’t talk. Ministers used backdoor entrances to their hotels. The traditional manic media scrum that opens the meeting was canceled.Then after two days of often fractious talks on the cartel’s oil policy, he sprung two surprises at the closing press conference: Saudi Arabia will voluntarily cut supply deeper than the new deal requires, and the kingdom is gunning for a $2 trillion valuation for its newly public oil producer, Aramco.The two are linked. By trying to juice the oil market, he wants to do a favor for his half-brother, Crown Prince Mohammed bin Salman, who’s staked his reputation on the $2 trillion figure. Saudi Aramco will start trading on Riyadh’s Tadawul exchange on Wednesday with a value of about $1.7 trillion.Even before he was promoted by the crown prince in September, Abdulaziz was a fixture of the Saudi OPEC team for more than thirty years. He gained a reputation as a diplomat, able to bridge the political enmities between members that often have little in common other than an addiction to petrodollars.Although he’s the ultimate Vienna insider, his first meeting in charge contrasted with his immediate predecessor, Khalid Al-Falih, a brainy but brusque technocrat who was rarely shy of the cameras.His style owes more to Ali Al-Naimi, who ran the Saudi energy minister from 1995 to 2016 and liked to keep the market guessing to give policy changes more impact.“The Saudis deliberately managed the expectations of the meeting -- the key was to build a surprise,” said Bob McNally, founder of consultant Rapidan Energy, who was one of the few to predict deeper cuts.The prince also shares Naimi’s taste for consensus building. Al-Falih had leaned heavily on his oil-market alliance with Russia, first forged just three years ago.Prince Abdulaziz sought to win over OPEC’s established members, persuading those producing over their limit that they need to carry their share of the burden.One minister said he was very gracious in persuading OPEC sinners such as Iraq and Nigeria to mend their ways. He offered that the Saudis would voluntarily make additional cuts first, allowing others to follow. But there was also an unmistakable threat: if others didn’t comply, Riyadh will quickly change course, delegates said.“How can we work in dividing these things?” Prince Abdulaziz said in a Bloomberg TV interview. “It is not going to be a science. It’s science, art and sensibility.”It was decided deeper cuts and better compliance were needed for two reasons: analysts had predicted weak demand growth and new supply from U.S. shale, Norway and Brazil. That meant an overhang was likely early next year. But more important was the Aramco IPO.Prince Abdulaziz needed the listing of the state oil producer to be a success, especially after most international investors said they didn’t want to pay his price.Deeper CutsSaudi officials started talking to counterparts about deeper cuts. The Iraqi minister, Thamir Ghadhban, almost gave the game away on Sunday morning, talking to reporters in Baghdad.Deeper OPEC cuts were discussed at the Abu Dhabi Grand Prix Formula One race the same day, where the crown prince was hosted by his Emirati counterpart Mohammed bin Zayed, according to one OPEC delegate.Abu Dhabi had agreed to back the IPO with $1.5 billion of the $25 billion Saudi Arabia was trying to raise. The two crown princes decided they needed a solid oil market to back the share sale.Ministers started to arrive in Vienna on Tuesday, but were giving little away. Almost every trader and analyst that follows OPEC expected a rollover.The Iraqi minister mentioned deeper cuts one more time when he arrived at Vienna’s Hilton Plaza hotel, but he quickly walked his indiscretion back.But on Thursday, at a meeting of the Joint Ministerial Monitoring Committee that oversees the alliance, news of deeper cuts began to leak.But the lack of the press scrum -- canceled at the suggestion of the Saudi delegation -- meant the picture was unclear as ministers started the full meeting that afternoon.They quickly agreed to a cut in principle, but number crunching dragged on late into the evening. The end-of-meeting press conference was also scrapped.The prince arrived at OPEC’s Vienna headquarters on Friday, forecasting a “beautiful day.” The talks, now including Russia and other countries from the OPEC+ group, went more smoothly.The came the press conference. The oil price popped.The prince will get another chance to play the expectations game in just 90 days, when an extraordinary meeting has been called for the first time in more than a decade to monitor progress.He may find it harder to catch the oil market unaware.\--With assistance from Grant Smith, Laura Hurst, Annmarie Hordern, Julian Lee and Dina Khrennikova.To contact the reporters on this story: Will Kennedy in Vienna at email@example.com;Javier Blas in Vienna at firstname.lastname@example.org;Nayla Razzouk in Vienna at email@example.comTo contact the editors responsible for this story: Will Kennedy at firstname.lastname@example.org, Pratish Narayanan, Joe RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
These are the most successful corporations in the U.S. as measured by Sales, Profits, Shareholder Returns, Quality of Workplace, and Carbon Footprint.
Hospitality company Sonder has ambitions to become the next-generation Hilton or Marriott as part of its plan to radically redefine the industry. The San Francisco-headquartered firm has raised a total of $360 million in funding and has been putting the money to use growing in cities across the world. Speaking at Skift Short-Term Rental Summit, […]
Marriott (MAR) consistently tries to expand its presence worldwide. It has expansion plans in the Asia, Europe, Africa, the Middle East and Africa.
Choice Hotels International (CHH) strengthens upscale brand presence with the opening of the Cambria Hotel Downtown Phoenix Convention Center in Phoenix Metropolitan area.
Hyatt (H) consistently tries to expand its presence worldwide and has expansion plans in the Asia-Pacific, Europe, Africa, the Middle East and Latin America.
Intellihot, a tankless water heating startup that counts Facebook, Google, Marriott and Hilton Hotels as customers, is planning to open a new suburban Chicago headquarters early next year.
Hilton (HLT) has announced the creation of 700 new full-time work-from-home positions, significantly expanding its remote career program and flexible work opportunities across the United States. As part of the Hilton Reservation & Customer Care (HRCC) team, these new reservation and customer care specialists are the first point of contact to support guests with travel and reservation-related questions, often going above and beyond to deliver personalized service to customers. In addition to working from the comfort and convenience of home, Team Members enjoy stable, year-round work, as well as opportunities to grow and advance their career through moves across departments or into management and training positions.
It was a small way to help solve a big problem. In an effort to cut down on the amount of food it was wasting, the Kimpton Hotel Monaco Portland in Oregon stopped offering free bread with meals at its Red Star Tavern restaurant. Four months into the experiment, the hotel noticed it used 22.5 […]
Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through November 22nd. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 52% and 49% respectively. Our research shows that most of the stocks that smart money likes historically generate strong risk-adjusted returns. […]
(Bloomberg Opinion) -- There has been a lot of pain for WeWork in the last few months. It doesn’t get easier from here.The office leasing startup has been on a wild ride. Its planned initial public offering was derailed in September by investors’ shock at the company’s red ink and self-dealing by its chief executive officer. WeWork was close to running out of cash before an emergency financing last month. WeWork’s valuation withered to less than the investment money it had collected. Masayoshi Son, the SoftBank Group Corp. founder and WeWork’s biggest backer, said turning around the startup would be “simple.” It isn’t. To be viable, WeWork must continue to slash costs, reassure a nervous workforce, build out hundreds of new offices with uncertain financial prospects, possibly mollify tenants and landlords who might be unsettled about working with the company, reevaluate its office portfolio and stabilize declining average rent payments and occupancy rates.It will take skill, luck, tough choices and the persistence of SoftBank for WeWork not to die. The degree of difficulty shows how hard it is to fix a company that expanded and operated without regard for what would happen next. For now, WeWork’s five-alarm fire is doused. SoftBank agreed last month to move up a $1.5 billion investment it had planned to complete next April. SoftBank is also backing a plan — not fully fleshed out — for WeWork to borrow $3.3 billion and obtain a backstop for as much as $1.75 billion more. The bottom line is that WeWork will be dependent on SoftBank, which has already expressed regret for putting so much faith in WeWork and Adam Neumann, the co-founder and ousted CEO. Second thoughts inside SoftBank about a stock repurchase that is part of WeWork’s bailout make me question SoftBank’s commitment to see through a multiyear WeWork turnaround. Assuming the bailout goes through, WeWork also must get its costs under control — and that comes at a high human toll. WeWork said last week that it’s laying off 2,400 people, or nearly 20% of the more than 12,500 employees it had at the end of June. The company is likely to shed more employees as WeWork offloads side businesses.The job cuts might slice hundreds of millions of dollars from WeWork’s costs,(4)and there is more to do. In the 12 months ended June 30, WeWork’s corporate overhead totaled about $1.9 billion, or the equivalent of three-quarters of WeWork’s reported revenue for that period.(1) Fitch Ratings, using different numbers, has calculated that WeWork’s overhead costs need to come down from about 60% of its revenue to a “low double-digit percentage” in the coming years. Fitch figured it would take about $1 billion in cost reductions to put the company on sounder footing. WeWork on Friday outlined management changes to employees and said the company has a target to generate positive cash flow by 2023. That’s a long time to be financially unsustainable. The company appears to have burned through $1 billion of cash in the most recent quarter. But WeWork can’t just cut its way to health. It also needs to spend to bring in revenue from its rapid expansion. In the 12 months ended in September, the number of WeWork locations ballooned from 334 to 625, according to a company presentation to bondholders. It’s unclear how many of those offices have paying tenants,(2)but it’s likely the company must revamp a chunk of those offices to WeWork’s specifications and perhaps wait out free rent periods for new tenants.Each fresh tenant, however, comes with an uncertain financial profile. WeWork in its disclosures to prospective IPO investors said it had been expanding into cities and countries where rents tend to be lower than they are in more established WeWork markets such as New York, London and Washington. WeWork on average generated $1,522 from each paying tenant in the third quarter of 2017 and $1,327 for the three months ended in September.The percentage of its open desks with paying tenants has also dropped, including at locations open for more than two years. The company needs to stabilize, if not increase, occupancy rates and per-location revenue. This is a tall order. WeWork’s drama may also make tenants wary of signing or re-upping. WeWork has signaled it is reassessing office deals it signed or was considering. The company may be smart to wriggle out of unpromising leases, but that could force WeWork to pay penalties. Walking away from deals may also make other landlords wary of renting their buildings to WeWork or less eager to give it breaks on rent and help with construction costs. Having fewer locations, or locations leased on less generous terms, puts a ceiling on potential future rental income. The company as of June 30 had committed to making $47 billion in lease payments in coming years. WeWork’s new executive chairman also told employees about a planned change to its business model, according to the Financial Times. Instead of signing long-term office leases, carving them into chunks and re-leasing them for shorter-term rentals, WeWork wants to manage commercial properties for landlords in most cities. The business approach is similar to that of hotel chains such as Hilton and may be a more viable strategy — assuming landlords go along. But WeWork will still need to clean up the mess from all the leases it signed in its expansion binge. There are good ideas at the heart of WeWork. Businesses don’t want to track down office space, commit to long leases and deal with the hassle of keeping an office running. But all that WeWork has proved is that it’s possible to build a big business with some innovative approaches as long as it spends money like there’s no tomorrow. Now that WeWork is trying to last, there is a lot of hard work and many difficult choices ahead, and there are no guarantees that WeWork can make it work. (1) My rough numbers: If WeWork eventually reduces its payroll by 4,000 people, at an average compensation cost of $150,000, that works out to $600 million insavings. That doesn't factor in severance and benefits that WeWork has said it will make to people it is laying off.(2) My calculations include WeWork's reported operating expenses for its locations before they open to tenants, minus WeWork's adjustments to account for periods where it doesn't owe rent to landlords on buildings without tenants. The costs also include WeWork's sales and marketing operations, costs to scout and develop new buildings and new marketsand general and administrative costs.(3) WeWork's IPO filing said there were 214 WeWork locations at the end of June that hadn't yet opened for tenants, compared with 99 at the same point in 2018.To contact the author of this story: Shira Ovide at email@example.comTo contact the editor responsible for this story: Daniel Niemi at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Houston-based American Liberty Hospitality is developing a dual-branded Hilton hotel in the Texas Medical Center, according to the company's website. The Hilton Garden Inn and Home2 Suites by Hilton project will feature a combined 300 rooms. Houston-based MCS Architects LLC is designing the project, per that firm's website.