The Baird/STR Hotel Stock Index reported a 1.4-percent decrease in May to 2,745. Year-to-date 2013, the Baird/STR Hotel Stock Index is up 12.1 percent. The index ended 2012 at 2,448.
The refinancing process has been conducted by financial advisors of the firm IREA, this new strategic financial plan will allow the Company to refinance its debt, and initiate a significant renovation and improvement plan of its hotels and resorts.
Wyndham Worldwide Corporation (NYSE: WYN) announced yesterday the closing of a new $1.5 billion revolving credit facility to replace its existing $1 billion facility, which had been scheduled to mature in July 2016.
The Baird/STR Hotel Stock Index reported a 0.4-percent increase in April to 2,784. Year-to-date 2013, the Baird/STR Hotel Stock Index is up 13.7 percent. The index ended 2012 at 2,448.
For the year ended December 31, 2012, the Company generated revenues from resort operations of $9.45 million and a net loss of $17.85 million or $0.06 per share compared to $6.66 million and a net loss of $42.66 million or $0.21 per share. Resort Operations EBITDA from continuing operations for the 2012 year were $2.54 million compared to negative $0.8 million in the 2011 year.
The Company's RevPAR was $119.40, an increase of 2.0% from 2012. Excluding the Company's New York City hotels under renovation, the Company's RevPAR increased 5.6% from 2012.
Q1 global RevPAR growth of 3.1%, with rate up 2.0% and occupancy up 0.6%pts. The shift in timing of Easter from April into March adversely impacted RevPAR in the quarter. The corresponding boost can be seen in April when RevPAR was up 6.6% for the Group as a whole compared to just 0.6% in March.