trending Market Intelligence /marketintelligence/en/news-insights/trending/yqXUUiVHgK7F9TxRyD0w_w2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

CorePoint Lodging board authorizes $50M share buyback program

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Real Estate

Real Estate Solutions Overview


CorePoint Lodging board authorizes $50M share buyback program

CorePoint Lodging Inc., in reporting its latest earnings, said it received board authorization to repurchase $50 million of shares.

The lodging real estate investment trust also said all of its properties affected by the 2017 and 2018 hurricanes, except for that in Panama City, Fla., have reopened as of Dec. 31, 2018. Through such date, it received about $12 million in total business interruption insurance proceeds. The REIT noted that it expects net insurance proceeds to sufficiently cover "a significant portion" of the property damage to the hotels and the associated operating loss.

During the 2018 fourth quarter, CorePoint engaged in a strategic review of its portfolio and identified 78 noncore hotels that could be candidates for potential sale. The company said it recognized $154 million in impairment losses during the quarter, mainly because of the strategic review and the resulting reduction in its hotels' holding period.