Hilton said Thursday that it plans to install at least six electric vehicle chargers per property at 2,000 hotels in North America, and will buy devices from Tesla. Once it fully installs them, Hilton will own more electric vehicle chargers than any other U.S.-based hotel group.
Hotel Brand Selina Sees Upswing in Financial Performance
13.09.2023 - 14:19 / skift.com / Sean Oneill
Selina, a hotel and experiences brand focused on youth travelers, said on Wednesday that its financial metrics were trending in the right direction as it reported earnings results.
In the second quarter, the company generated $52.5 million in revenue, a bump of 15.9% year-over-year. Factors included higher occupancy rates, reductions in corporate overhead, and essentially higher revenue per customer.
The company also narrowed its losses. It reported $700,000 in adjusted earnings before interest, taxes, depreciation, and amortization, compared to a $5.8 million loss in the same period a year ago.
Selina said it was “aggressively executing a comprehensive real estate portfolio optimization plan” that “includes renegotiating all leases through abatements, deferrals, and terminations.”
In the quarter, the company also collected $10 million as the first phase of a planned strategic investment of up to $50 million led by Global University Systems (GUS), which runs for-profit universities. It also drew $10 million under its $50 million credit facility with Latin America’s Inter-American Development Bank (IDB).
Selina’s stock price dipped below $1 last month, where it has remained. If Selina’s stock remains below $1 for about a month, the Nasdaq exchange will issue a notice of a plan to delist the shares from trading. Selina will then have 180 days to push the value of shares higher.
The company aims to report a continued upward trend, which could appeal to investors.
“Selina continues to focus on three key strategic areas: improving cash flow, advancing toward profitability, and building our brand,” said Rafael Museri, co-founder and CEO, in a statement.
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Top Autors
Popular Topics
skift.com
25.08.2023 / 14:43
Recent Hotel Earnings Tell Us Brands See Resilience in Development Pipelines
Earnings seasons for the hotel sector is nearly over, and one striking aspect of executive comments on calls with investors was the resilience of development pipelines for hotels belonging to brands run by global groups. For new construction, conversions, and franchise signings, hotel companies painted an optimistic picture.
skift.com
25.08.2023 / 14:42
India's Hotel Supply Is Less Than Demand as Development Tries to Catch Up
Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.
skift.com
25.08.2023 / 14:34
Atour Goes Public to Expand Lifestyle Hotel Trend in China
Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.
skift.com
25.08.2023 / 14:25
Hotel Growth in the Philippines Set for a Luminous Future
Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.
skift.com
25.08.2023 / 14:22
Hotel Hirings Fall Short of Industry Needs
Good morning from Skift. It’s Monday, January 9, and here’s what you need to know about the business of travel today.
skift.com
25.08.2023 / 14:22
Hilton Sees Signs of Pandemic's Pent-Up Demand Moderating in 2023
Hilton Worldwide’s earnings report on Thursday was a good news-bad news story.
skift.com
25.08.2023 / 14:21
U.S. Hotels Haven't Yet Recovered 2019 Occupancy, Staffing, or Real Revenue
The U.S. hotel sector will this year finally surpass 2019 levels on a few performance metrics, according to research commissioned by the country’s largest hotel lobby.
skift.com
25.08.2023 / 14:21
Hotels Make Emotion The New Brand Standard
Appealing to people’s emotions is becoming a more effective way for hotel groups to woo travelers because guest needs are evolving in ways that undercut the traditional branding recipe. Many hotel executives are fine-tuning what their brands stand for and how they communicate that message to guests as they try to grab market share.
skift.com
25.08.2023 / 14:19
Hilton Launches Spark, Its First Economy Hotel Brand
Hilton Worldwide is rolling out its first-ever hotel brand in the economy slice of the market, Spark by Hilton, taking on rivals such as Marriott International, Choice, and InterContinental Hotels Group in this competitive market segment.
skift.com
25.08.2023 / 14:18
Accor Challenges Rival Hotel Groups in Branded Residential
Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.
skift.com
25.08.2023 / 14:18
UAE Makes Continued Push in Hotel Development
It’s been a boom time for the hotel industry in the United Arab Emirates, as recent news items in Skift’s Daily Lodging Report have recently shown.