The Blue Swan Daily brings you a round up of the latest key hotel news from across the South Pacific.
Rydges Wellington Airport hotel now open, conference centre to follow later in 2019
Wellington International Airport welcomed (12-Feb-2019) the opening of a 134 room Rydges branded hotel at the airport. The hotel is fully integrated and connected to the terminal, as well as offering 24 hour room service and an onsite gym. A refurbished conference centre offering six meeting rooms with capacity for up to 160 people will also open later in 2019.\
Choice Hotels International Exceeds Top End Of Full Year Guidance For EPS And Reports Largest Domestic Pipeline In Company’s History
- Net income was $31.5 million for the fourth quarter 2018 and $216.4 million for the full year, representing diluted earnings per share (EPS) of $0.56 and $3.80, respectively.
- Adjusted net income, excluding certain items described in Exhibit 6, increased 34 percent in 2018 to $221.5 million over the prior year.
- The company’s full year adjusted EPS increased 34 percent over the prior full year period to $3.89, while full year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 14 percent over 2017 to $341 million.
- The company exceeded the top end of its full year adjusted EBITDA guidance by $1 million and the top end of its fourth quarter and full year adjusted EPS guidance by $0.03 per share.
- The company repurchased 1.9 million shares of common stock for an aggregate cost of $149 million for the full year 2018.
- The company awarded 756 new domestic franchise contracts, making 2018 the company’s best development year in over a decade.
- Total domestic pipeline of hotels awaiting conversion, under construction, or approved for development, as of December 31, 2018 surpassed 1,000 hotels, representing the largest domestic pipeline in the company’s history.