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FINANCIAL | Investment Firms & Funds
corepoint.com

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Stage

Spinoff / Spinout | IPO

Market Cap

0.61B

Stock Price

13.92

About CorePoint Lodging

CorePoint Lodging is a spin-off of the well-known La Quinta hotel brand and operates as a real estate investment trust (REIT).

CorePoint Lodging Headquarter Location

909 Hidden Ridge Suite 600

Irving, Texas, 75038,

United States

972-893-3199

Latest CorePoint Lodging News

5 Things To Know for July 14

Jul 14, 2021

1. CorePoint Reviewing Possible Sale, Alternatives CorePoint Lodging, a real estate investment trust focused on select-service hotels, announced Tuesday plans to undergo a review of "strategic alternatives," which includes a potential sale of the company , HNN's Stephanie Ricca reports. "We have created substantial value through the execution of our ... disposition strategy," President and CEO Keith Cline said in a news release. "Having addressed over 80% of the 210 hotels we identified as noncore, and given the strong market interest in our assets, the board has determined now is the proper time to explore strategic alternatives to fully maximize value for our stockholders." CorePoint sold 25 noncore hotels in the second quarter of 2021 for a combined gross sales price of $143 million. Another 36 hotels are under contract for roughly $220 million in gross proceeds. 2. Hotel Companies Revisiting Cancellation Policies As demand grows, so does hotels brands' desire to return to pre-pandemic cancellation policies that limit travelers ability to make fee-free late cancellations on stays, HNN's Danielle Hess reports. Choice Hotels International is the latest to make the move, with a policy going into effect today that imposes a 48-hour cancellation window on non-loyalty members. Choice Vice President of Revenue Management Douglas Lisi pointed to franchisees' need to more accurately predict demand to adjust staffing levels as a driver of the change, noting the updated policy is "allowing our franchisees and our customers to get the best experience possible right now." 3. COVID-19 Cases Found at Tokyo Olympics Hotel Multiple coronavirus cases were found among staff at a Japanese hotel that is hosting "dozens of Brazilian Olympic team members" for the Tokyo Olympics, Reuters reports . With slightly more than a week before the opening ceremonies for the games, COVID-19 cases are spiking in Tokyo, with 1,149 new cases reported today. The multiple cases at the hotel that was meant to operate as a "bubble" for the Brazilian athletes is raising concerns among medical experts that such efforts will be inadequate during the games, the news agency reports. International Olympic Committee President Thomas Bach remained optimistic when speaking with reporters. "These will be historic Olympic Games ... for the way how the Japanese people overcame so many challenges in the last couple of years, the great east Japan earthquake and now the coronavirus pandemic," Bach said. 4. Veteran Services Announces $225 Million Portfolio Acquisition Miami-based Veteran Services USA and Lockwood Asset Management announced a $225 million deal for 10 mixed-use properties that will include Radisson Hotel-branded hotels in different markets across the U.S. Locations for the assets include Austin, Texas; Dayton, Ohio; Houston, Texas; Jackson, Mississippi; Marietta, Georgia; Memphis, Tennessee; Orlando, Florida; Reading, Pennsylvania; Trenton, New Jersey; and Tulsa, Oklahoma. 5. Possibilities Grow for Pot Travel The New York Times reports that when many travelers were staying at home during the pandemic, many states were legalizing marijuana, opening up various new possibilities for pot-driven travel as they once again hit the road. The Times noted New Jersey, South Dakota, Arizona and Montana all approved recreational marijuana use at the end of 2020. Brian Applegarth, founder of the Cannabis Travel Association International, said there is "an audience and an appetite out there" for pot travel. Get In Touch

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