Hints and tips:
...It felt like deja vu as the largest real estate investor in the world had, over the past 18 years, twice previously acquired, and then flipped the company that effectively is an apartment building and motel...
...Around lunchtime on Saturday, May 9 2015, the motel’s staff opened the doors to their rooms and found them dead....
...However, the company widened its net loss last year after posting €298m of one-off charges, including a €69m loss when French hotelier Accor sold US hotel chain Motel 6, as well as restructuring costs and...
...The Paris-based group, whose brands include Sofitel and Ibis, the budget chain, reported a net loss of €599m last year against a €27m profit in 2011, mainly because of a €679m loss on the sale of Motel 6...
...The bottom line was dragged down by a €679m loss on last year’s sale of the Motel 6 chain in the US. Operating profit of €526m, up 3 per cent on 2011, was in line with expectations....
...The move comes less than two months after the French hotel group sold its underperforming Motel 6 chain of US budget hotels to Blackstone in a $1.9bn deal and will see Accor join rivals such as Hilton,...
...Motel 6 comprises 1,102 hotel and 107,000 rooms – equivalent to 20 per cent of Accor’s total....
...Tuesday’s agreement to sell its Motel 6 chain in the US (along with other bits of the economy-class business there) takes the French company a further step towards its target, by shedding owned or fixed-leased...
...Analysts value Motel 6 at about €400m, but this value is likely to be eroded if Accor buys out a group guarantee on leases....
...COMMENT AND CURIOS - Don’t let Spain become a ‘roach motel’, says Mohamed El-Erian. (Financial Times) - Global banks have ‘hit a wall’ in China....
...By contrast Accor, Europe’s largest hotel operator, seems to be in permanent restructuring mode, selling its US Motel 6 chain to Blackstone for $1.9bn....
...Mr Collet likens old archiving systems to “Roach Motels”, the bug-killing products where, the slogan goes, “roaches check in, but they don’t check out”....
...Even Motel 6, the US chain which contributed €100m to last year’s writedowns, grew for the first time since 2008....
...Major projects have ranged from designing aircraft interiors for Airbus to rooms for Motel 6, the US budget hotel chain. I’ve always been fascinated by big pieces of machinery like ships and planes....
...The loss was triggered by €514m of writedowns and losses, in part from Motel 6, its US budget hotel brand....
...Another cash deal involved Equity Inns , the hotel and motel real estate investment trust....
...Equity Inns jumped 15.4 per cent to $22.71 this week after the hotel and motel real estate investment trust was bought for about $1.26bn by a private real estate trust....
...not have persuaded a lawyer (who takes a one-third cut) to sue in the first place; and because if they had not sued, no one would have discovered that the motel was infested with bugs....
...In a dissenting opinion, Justice Sandra Day O’Connor said the ruling could be used to replace “any Motel 6 with a Ritz-Carlton, any home with a shopping mall, or any farm with a factory”....
...Accor investors must hope they will be equally visionary in devising a strategy for the group behind the Sofitel, Novotel, Motel 6, Ibis and Red Roof Inn hotel chains....
International Edition