Travel & Leisure Companies Report Mixed Financial Results - Research Report on
Expedia, Las Vegas Sands, Starwood, Penn National Gaming, and Choice Hotels
NEW YORK, July 31, 2013
NEW YORK, July 31, 2013 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Today, Investors' Reports announced new research reports highlighting Expedia
Inc. (NASDAQ: EXPE), Las Vegas Sands Corp. (NYSE: LVS), Starwood Hotels &
Resorts Worldwide Inc. (NYSE: HOT), Penn National Gaming Inc. (NASDAQ: PENN),
and Choice Hotels International Inc. (NYSE: CHH). Today's readers may access
these reports free of charge - including full price targets, industry analysis
and analyst ratings - via the links below.
Expedia Inc. Research Report
On July 25, 2013, Expedia Inc. (Expedia) released its Q2 2013 financial
results. Revenues were up 15.9% YoY to $1.2 billion. Adjusted net income was
down 27.5% YoY to $90.5 million. Income from continuing operations was down
32% YoY to $71.5 million. Adjusted EPS was down 28.1% YoY to $0.64, while
diluted EPS from continuing operations was down 32.9% YoY to $0.51. Dara
Khosrowshahi, President and CEO of Expedia, said, "We knew we were facing
second quarter headwinds and those which we expected, as well as some we
didn't, materialized. Despite this, we remain confident about our long-term
strategy. We see continued return on our core brands' technology investments,
broader adoption of Expedia Traveler Preference Program, momentum in our
recent acquisitions and emerging markets as well as exciting traction in one
of travel's fastest growth channels - mobile." The Full Research Report on
Expedia Inc. - including full detailed breakdown, analyst ratings and price
targets - is available to download free of charge at:
Las Vegas Sands Corp. Research Report
On July 24, 2013, Las Vegas Sands Corp. (Las Vegas Sands) released its Q2 2013
financial results. Revenues were up 25.6% YoY to $3.2 billion. GAAP operating
income was up 96.3% YoY to $780.6 million, principally due to stronger
operating results in Macao. Net income attributable to the Company was up
120.2% YoY to $529.8 million, while diluted EPS was up 120.7% YoY to $0.64.
Mr. Sheldon G. Adelson, Chairman and CEO of Las Vegas Sands, commented, "I am
extremely pleased to report outstanding quarterly financial results that
reflect strong growth in revenue, cash flow, and earnings per share, as well
as the focused and consistent execution of our global growth strategy.
Continued execution of that strategy will extend our position as the global
leader in Integrated Resort development and operation." The Full Research
Report on Las Vegas Sands Corp. - including full detailed breakdown, analyst
ratings and price targets - is available to download free of charge at:
Starwood Hotels & Resorts Worldwide Inc. Research Report
On July 25, 2013, Starwood Hotels & Resorts Worldwide Inc. (Starwood) released
its Q2 2013 financial results. Revenues were down 3.5% YoY to $1.6 billion.
Operating income was up 3.3% YoY to $250 million. Net income attributable to
the Company was up 12.3% YoY to $137 million, while diluted EPS was up 14.5%
YoY to $0.71. Frits van Paasschen, Starwood's CEO, said, "We exceeded our
profit expectations - despite slower revenue growth and exchange rate
headwinds - thanks to SG&A cost control and good margin performance at Owned
and Managed hotels. The global recovery continues. Tight supply in North
America and Europe is the order of the day, with virtually no new high-end
coming on stream. Our occupancies in Europe are close to 72%. In North
America, they reached 76%, the highest Starwood has ever reported. In China,
our hotels significantly outperformed the competition, demonstrating the value
our brands bring to our hotel owners, even in soft market conditions." The
Full Research Report on Starwood Hotels & Resorts Worldwide Inc. - including
full detailed breakdown, analyst ratings and price targets - is available to
download free of charge at:
Penn National Gaming Inc. Research Report
On July 23, 2013, Penn National Gaming Inc. (Penn National Gaming) released
its Q2 2013 financial results. Net revenues were up 6.8% YoY to $761.4
million. Net loss was $12.2 million, compared to a net income of $66.7 million
in Q2 2012. Loss per diluted common share was $0.16, compared to earnings per
diluted common share of $0.63 in Q2 2012. Peter M. Carlino, Chairman and CEO
of Penn National Gaming, stated, "Second quarter operating results fell short
of our guidance due to several factors: In addition to soft industry-wide
regional gaming revenue trends, several properties in the Midwest and Southern
Plains segments endured extreme weather, including tornados, flooding and
construction disruption, which led to closures as well as insurance deductible
charges. Other facilities were negatively impacted by competitive pressures,
including marketing promotions that due to economic return considerations we
elected not to match. Partially offsetting these challenges, our second
quarter adjusted EBITDA includes $4.3 million of favorable tax settlements in
various jurisdictions." The Full Research Report on Penn National Gaming Inc.
- including full detailed breakdown, analyst ratings and price targets - is
available to download free of charge at:
Choice Hotels International Inc. Research Report
On July 26, 2013, Choice Hotels International Inc. (Choice Hotels) released
its Q2 2013 financial results. Revenues were up 5.7% YoY to $183.6 million.
Net income was down 11.4% YoY to $28.2 million. Diluted EPS was down 12.7% YoY
to $0.48. Stephen P. Joyce, President and CEO of Choice Hotels, said, "On the
development side of the business, conversion franchise sales for our flagship
Comfort brand and our Ascend Collection continued to outpace last year's
results demonstrating that Choice remains a top option for hotel developers."
For Q3 2013, the Company expects diluted EPS of approximately $0.66, while
full-year 2013 diluted EPS is expected to be $1.84 to $1.87. The Full Research
Report on Choice Hotels International Inc. - including full detailed
breakdown, analyst ratings and price targets - is available to download free
of charge at: [http://www.InvestorsReports.com/report/2013-07-29/CHH]
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