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Apple Hospitality REIT Announces Dates for Third Quarter 2020 Earnings Release and Conference Call

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RICHMOND, Va.–()–Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company”) today announced that it plans to report third quarter 2020 financial results after the market closes on Thursday, November 5, 2020, and host a conference call for investors and interested parties at 10:00 a.m. Eastern Time on Friday, November 6, 2020, to discuss the results.

The conference call will be accessible by telephone and the internet. To access the call, participants from within the U.S. should dial 877-407-9039, and participants from outside the U.S. should dial 201-689-8470. Participants may also access the call via live webcast by visiting the Investor Information section of the Company’s website at ir.applehospitalityreit.com.

A replay of the call will be available from approximately 1:00 p.m. Eastern Time on November 6, 2020, through 11:59 p.m. Eastern Time on November 27, 2020. To access the replay, the domestic dial-in number is 844-512-2921, the international dial-in number is 412-317-6671, and the passcode is 13710814. In addition, an archive of the webcast will be available on the Company’s website for a limited time.

About Apple Hospitality REIT, Inc.
 Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (“REIT”) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality’s portfolio consists of 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states. Concentrated with industry-leading brands, the Company’s portfolio consists of 104 Marriott-branded hotels, 126 Hilton-branded hotels, three Hyatt-branded hotels and two independent hotels. For more information, please visit www.applehospitalityreit.com.

For additional information or to receive press releases by email, visit www.applehospitalityreit.com.

JetBlue and Vault Health Partner to Make At-Home COVID-19 Tests More Widely Available to Customers

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NEW YORK–()–JetBlue (NASDAQ: JBLU) today announced it is partnering with Vault Health to make COVID-19 testing widely available to customers with pending travel plans. The reliable at-home test option provides convenience to customers wanting peace of mind and those who must secure a negative COVID-19 test result before entering certain states and countries or in order to avoid certain mandatory quarantines. Vault Health will handle all testing and provide JetBlue customers both discounts on their tests and a dedicated customer support phone line.

The at-home saliva test is administered via online video connection through Vault Health, with a test supervisor who ensures the customer is providing their sample properly. The sample is then overnighted to a laboratory which processes and analyzes the specimen, and results are provided in 72 hours or less. With many states and countries requiring a negative PCR test to enter or avoid quarantine, the test meets the medical standard for many jurisdictions and allows customers another option before travel.

“We continue to hear from health officials that testing is incredibly important in the fight against the coronavirus, and we want to make sure our customers have options for testing, especially prior to travel,” said Joanna Geraghty, president and chief operating officer, JetBlue. “As more and more regions reopen, many are requiring test results to enter. Now with easier testing options, those safety requirements may not be a deterrent for travel, but rather provide greater public health and peace of mind with little inconvenience.”

“We are so happy to be able to provide JetBlue customers peace of mind during their travels,” said Jason Feldman, founder and chief executive officer, Vault Health. “This saliva test is one of the most reliable and accurate COVID tests available in the country with fast turnaround time to results.”

In addition to priority support, Vault Health has created a dedicated landing page for JetBlue customers with current reservations, located at https://learn.vaulthealth.com/jetblue/. The page allows customers to provide their JetBlue confirmation code to start the process and receive a discount on testing. It is important to note that many but not all jurisdictions accept PCR tests administered at home or from saliva. All travelers should thoroughly research their destination or reentry travel requirements then make the best decision for testing based on their travel itinerary to avoid any disruptions. Properly timing testing to adhere to travel requirements must also be taken into consideration.

JetBlue’s partnership with Vault Health is part of the airline’s broader Safety from the Ground Up program, which focuses on healthy crewmembers, clean air and surfaces, more space and fewer touchpoints, as well as travel flexibility. The airline is dedicated to continuing to evolve this program while focusing on ensuring customers who want or need to travel feel comfortable. To learn more about the airline’s safety program, visit jetblue.com/safety.

About JetBlue Airways
 JetBlue is New York’s Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan. JetBlue carries customers across the U.S., Caribbean, and Latin America. For more information, visit jetblue.com.

About Vault Health
 Vault Health is a performance healthcare technology platform designed to help men through specialized in-home treatments for better health. Vault helps men overcome shortcomings in existing healthcare offerings through extensive education, professional medical evaluation, and personalized treatment. At the onset of COVID-19, Vault Health shifted focus and joined in the effort to address the COVID-19 pandemic to facilitate testing with the first FDA-authorized saliva test for men, women, and children. To learn more about Vault Health, visit www.vaulthealth.com.

Worldwide Spa Industry to 2024 – Key Drivers, Challenges and Trends – ResearchAndMarkets.com

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DUBLIN–()–The “Global Spa Market 2020-2024” report has been added to ResearchAndMarkets.com’s offering.

The spa market is poised to grow by $ 25.48 billion during 2020-2024 progressing at a CAGR of 4% during the forecast period.

The reports on spa market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing wellness tourism industry and increase in adoption of facial, body, and hair treatments in spas.

This study identifies the increase in availability of flotation therapy spa services as one of the prime reasons driving the spa market growth during the next few years.

The report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

Companies Mentioned

  • Aspira Spa
  • Clinique La Prairie
  • Gaia Retreat & Spa
  • Hand & Stone Franchise Corp.
  • HOT SPRINGS RESORT & SPA
  • Kempinski Hotels SA
  • Lanserhof GmbH
  • Marriott International Inc.
  • ME SPE Franchising LLC
  • Rancho La Puerta Inc.

The spa market covers the following areas:

  • Spa market sizing
  • Spa market forecast
  • Spa market industry analysis

Key Topics Covered:

1. Executive Summary

  • Market Overview

2. Market Landscape

  • Market ecosystem
  • Value chain analysis

3. Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

4. Five Forces Analysis

  • Fiver forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

5. Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • Day/club/salon spa – Market size and forecast 2019-2024
  • Hotel/resort spa – Market size and forecast 2019-2024
  • Destination spa – Market size and forecast 2019-2024
  • Medical spa – Market size and forecast 2019-2024
  • Others – Market size and forecast 2019-2024
  • Market opportunity by Type

6. Customer landscape

7. Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • North America – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

8. Vendor Landscape

  • Vendor landscape
  • Landscape disruption
  • Competitive scenario

9. Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Aspira Spa
  • Clinique La Prairie
  • Gaia Retreat & Spa
  • Hand & Stone Franchise Corp.
  • HOT SPRINGS RESORT & SPA
  • Kempinski Hotels SA
  • Lanserhof GmbH
  • Marriott International Inc.
  • ME SPE Franchising LLC
  • Rancho La Puerta Inc.

10. Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

For more information about this report visit https://www.researchandmarkets.com/r/ydxqz4.

New York Cruise Lines Announces the Appointment of John Banks as Chairman of the Board

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NEW YORK–()–New York Cruise Lines Inc., operator of the world-famous Circle Line Sightseeing Cruises, transportation company, New York Water Taxi, luxury charter fleet, World Yacht, and innovative maritime restaurant, North River Lobster Company, announces the appointment of John Banks as its new Chairman of the Board of Directors. With more than three decades of senior-executive experience in the public and private sectors in New York City, Mr. Banks will lead New York Cruise Lines’ Board in helping direct the company’s marine-based sightseeing, transportation, dining and entertainment businesses.

Samuel Cooperman, who has been with New York Cruise Lines in various executive roles, including Chief Executive Officer and Chairman, is stepping down after 17 years of dedicated service. Seasoned executive Jan Engelhardsten, former Chief Financial Officer of international maritime leader Stolt-Neilsen Limited, has been appointed to the Board as a new Director.

During Mr. Cooperman’s tenure, Circle Line replaced its entire fleet of boats. In 2006, three new Manhattan class boats were launched and in 2016 the last of three new Bronx class boats was delivered, enabling the company to offer consumers the most modern sightseeing fleet in New York City. In 2016, Mr. Cooperman oversaw the acquisition of New York Water Taxi and Circle Line Downtown, which more than doubled the size of the organization’s fleet, adding a very successful transportation operating unit and re-uniting Circle Line Downtown with Circle Line Midtown under one brand umbrella.

Near the end of his tenure, as tourism to New York came to an absolute stop, Circle Line achieved the significant milestone of being one of the first NYC attractions to open on July 20th, providing New Yorkers with a much-needed source of outdoor entertainment and fun.

Mr. Engelhardsten served in his Chief Financial Officer role at Stolt-Neilsen for 26 years and in various other senior positions including President of Stolt Tank Containers and President of Stolthaven Terminals. He has been associated with the company since 1974.

“John has brought a broad range of experience and abundant talent to our company, having served the public and private sectors in very senior positions for many years,” said Mr. Cooperman. “We are honored to have him take over as Chairman of New York Cruise Lines, and we look forward to his continued valuable contributions.”

Mr. Banks has a long history in public service, most notably as Chief of Staff and Deputy Director of Finance for The Council of the City of New York. His 16 years of government service spanned portions of the Koch, Dinkins, Giuliani, and Bloomberg administrations. Subsequently, he entered the private sector and had a distinguished 13-year career as Vice President of Government and Community Relations for Con Ed. In 2015, he was appointed President of the Real Estate Board of New York, serving until 2019. He joined the Board of New York Cruise Lines one year ago.

“It is an honor and a privilege to become the Chair of the Board of Directors. I still remember taking my first ride on Circle Line when I was a kid. I was awed by views of New York City as I stood on the deck with a breeze on my face and the sound of the vessel cutting through the waves in my ears,” said Banks. “I continue to be excited to have the opportunity to work with one of the most iconic brands in New York. I want to thank the entire Board of Directors for placing their confidence in me, and I look forward to working with them for many years.”

ABOUT NEW YORK CRUISE LINES

New York Cruise Lines (NYCL) is the parent company of industry-leading marine-based sightseeing, transportation, dining and entertainment businesses that emphasize the ultimate in hospitality set to the beauty of the NYC skyline. NYCL owns and operates over 20 ships, including the most extensive and modern fleet in the sightseeing industry. NYCL’s most iconic brand, Circle Line Sightseeing Cruises, is a fixture in global tourism, hosting more than 84 million passengers since 1945. Recognized as “America’s Favorite Boat Ride,” Circle Line is world-famous for sightseeing and special events including concerts and entertainment.

Operating from Pier 83 in Hudson River Park at 42nd Street and 12th Avenue, (convenient to Times Square, The High Line and Hudson Yards) and Pier 16 near the South Street Seaport and the World Trade Center, Circle Line is the oldest and largest provider of sightseeing cruises using the most modern vessels. NYCL also operates the iconic New York Water Taxi sightseeing and transportation fleet, New York’s only maritime thrill-ride, The Beast, and innovative maritime restaurant, North River Lobster Company.

Circle Line (circleline.com)
New York Water Taxi (nywatertaxi.com)
The BEAST Speedboat (thebeastnyc.com)
North River Lobster Company (northriverlobsterco.com)

BBX Capital Corporation Announces Shareholder Approval of Spin-Off of BBX Capital Florida LLC and Corporate Name Change

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FORT LAUDERDALE, Fla.–()–BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) (the “Company”) and its subsidiary, BBX Capital Florida LLC (“New BBX Capital”), announced the following today:

Shareholder Approval of Spin-Off

At the special meeting of the Company’s shareholders held earlier today, the Company’s shareholders voted to approve the previously announced spin-off of New BBX Capital. The spin-off was approved by holders of shares of the Company’s Class A Common Stock and Class B Common Stock representing 88% of the total number of votes entitled to be cast on the spin-off. While the shareholders voted together as a single class on the spin-off and that vote alone was sufficient to approve the spin-off, the Company notes that 97% of the shares of the Company’s Class A Common Stock which were voted on the spin-off were cast in favor of the spin-off and that the spin-off received the affirmative vote of a majority of the votes cast by the Company’s unaffiliated shareholders.

Other Spin-Off Updates

The Company currently expects to consummate the spin-off on September 30, 2020. Prior to the spin-off, New BBX Capital will be converted into a Florida corporation named BBX Capital, Inc. If the spin-off is completed, the Company will distribute to its shareholders one share of New BBX Capital’s Class A Common Stock for each share of the Company’s Class A Common Stock held of record as of the close of trading on September 22, 2020, the record date for the distribution, and one share of New BBX Capital’s Class B Common Stock for each share of the Company’s Class B Common Stock held of record as of the close of trading on September 22, 2020. Each share of New BBX Capital’s Class A Common Stock and Class B Common Stock issued in the spin-off will have attached thereto a preferred share purchase right issued under New BBX Capital’s rights plan, as described in further detail below. Shareholders of the Company will also retain their shares of the Company’s Class A Common Stock and/or Class B Common Stock.

The Company’s Class A Common Stock and Class B Common Stock will continue to trade “regular way” on a “due-bills” basis on the New York Stock Exchange and OTCQX, respectively, until the close of trading on September 30, 2020, meaning that any shareholder who sells their shares of the Company’s Class A Common Stock or Class B Common Stock prior to the close of trading on September 30, 2020 will also be assigning the right to receive the shares of New BBX Capital’s Class A Common Stock or Class B Common Stock to be distributed in connection with the spin-off. The “Ex-Distribution” date for the distribution of shares of New BBX Capital’s Class A Common Stock and Class B Common Stock in connection with the spin-off will be October 1, 2020.

Subject to consummation of the spin-off and final approval by FINRA, New BBX Capital’s Class A Common Stock and Class B Common Stock will trade on the OTCQX following the spin-off, with trading to commence on a date to be determined by FINRA. New BBX Capital anticipates that the ticker symbol for its Class A Common Stock will be “BBXIA” and that the ticker symbol for its Class B Common Stock “BBXIB”.

Shareholder Approval of Company Name Change to Bluegreen Vacations Holding Corporation

At the special meeting, the Company’s shareholders also approved a change in the Company’s name from BBX Capital Corporation to Bluegreen Vacations Holding Corporation in connection with the spin-off. The name change reflects the fact that the Company will be a holding company for Bluegreen Vacations Corporation (“Bluegreen”) following the spin-off, with New BBX Capital holding all of the Company’s other businesses and investments. Bluegreen is a leading vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations. Bluegreen’s common stock is listed on the NYSE (NYSE: BXG). The Company currently holds approximately 93% of Bluegreen’s outstanding common stock. The Company’s name change has not yet become effective. The Company’s Class A Common Stock will continue to trade under its current ticker symbol, “BBX,” and the Company’s Class B Common Stock will continue to trade under its current ticker symbol, “BBXTB,” in each case, through the close of trading on September 30, 2020. It is expected that the Company will begin trading under its new name and new ticker symbols, which will be “BVH” for the Company’s Class A Common Stock and anticipates that the ticker symbol for its Class B Common Stock will be “BVHBB”, commencing with the opening of trading on October 1, 2020.

Adoption of Shareholder Rights Plan by New BBX Capital

New BBX Capital previously disclosed its intention to adopt a shareholders rights plan and the expected terms of the plan in its Registration Statement on Form 10 filed with the SEC. On September 25, 2020, New BBX Capital adopted the rights plan in contemplation of the expected closing of the spin-off on September 30, 2020. The terms of New BBX Capital’s rights plan are substantially similar to those contained in the rights plan adopted by the Company during June 2020. Neither the adoption of the rights plan by New BBX Capital or consummation on the spin-off will impact the effectiveness of the Company’s rights plan, which will continue in full force and effect in accordance with its terms.

Pursuant to New BBX Capital’s rights plan, one preferred share purchase right will accompany and initially be attached to each share of New BBX Capital’s Class A Common Stock and Class B Common Stock distributed in connection the spin-off. Subject to the terms and conditions of New BBX Capital’s rights plan, including certain exceptions set forth therein, the rights will become exercisable upon the earlier to occur of (i) 10 business days following a public announcement that a person or group of affiliated or associated persons or person(s) acting in concert therewith has acquired, or obtained the right to acquire, beneficial ownership of 5% or more of the outstanding shares of New BBX Capital’s Class A Common Stock, Class B Common Stock or total combined common stock or (ii) 10 business days (or such later date as may be determined by action of New BBX Capital’s Board) following the commencement of, or announcement of an intention to make, a tender offer or exchange offer the consummation of which would result in the beneficial ownership by a person or group of 5% or more of the outstanding shares of New BBX Capital’s Class A Common Stock, Class B Common Stock or total combined common stock. Shares of New BBX Capital’s Class A Common Stock or Class B Common Stock received in the spin-off in respect of shares of the Company’s Class A Common Stock or Class B Common Stock acquired after this announcement and prior to the distribution of shares of New BBX Capital’s stock in the spin-off will be included in determining the beneficial ownership of a person and whether such person is an acquiring person under the terms of the rights plan. Therefore, a person could become an acquiring person under the terms of New BBX Capital’s rights plan simultaneously with the receipt of shares in the spin-off and be an acquiring person under both the Company’s rights plan and New BBX Capital’s rights plan.

In addition to other limited exceptions set forth in the rights plan, existing shareholders of the Company who beneficially own 5% or more of the outstanding shares of the Company’s Class A Common Stock, Class B Common Stock or total combined common stock and who are not acquiring persons under the terms of the Company’s rights plan will not be required to divest any shares as their share ownership will not trigger exercisability of the rights under New BBX Capital’s rights plan so long as they do not become the beneficial owner of one or more additional shares of New BBX Capital’s Class A Common Stock or Class B Common Stock (other than pursuant to certain limited exceptions expressly set forth in the rights plan or as determined by New BBX Capital’s Board) which results in their beneficial ownership of 5% or more of the outstanding shares of New BBX Capital’s Class A Common Stock, Class B Common Stock or total combined common stock.

If the rights under New BBX Capital’s rights plan become exercisable, each right (other than the rights beneficially owned by the triggering person, its affiliates, associates and others acting in concert therewith, and certain of their respective transferees, all of which rights will become void) will entitle its holder to purchase, at the exercise price of $50.00 per right (subject to adjustment in accordance with the terms of the rights plan), a number of shares of New BBX Capital’s Class A Common Stock or equivalent securities having a market value at that time of twice the right’s exercise price. New BBX Capital, in the discretion of its Board, may, rather than permitting the exercise of the rights, exchange the rights (other than rights which have become void, as described above) at an exchange ratio of one share of New BBX Capital’s Class A Common Stock, or other security of New BBX Capital having equivalent value, per right. Until the occurrence of an event that causes the rights to become exercisable, New BBX Capital’s Board may determine to redeem the rights for $0.0001 per right and New BBX Capital will generally be entitled to amend the rights plan. Prior to exercise, a right does not give its holder any rights as a shareholder, including, without limitation, any dividend, voting or liquidation rights.

The exercise price and redemption price of the rights, the number of shares issuable in exchange for or upon exercise of the rights, and the number of outstanding rights is subject to adjustment in accordance with the terms of the rights plan.

The rights plan has a term of two years, expiring on September 25, 2022, unless the rights are earlier redeemed or exchanged, or the rights plan is earlier terminated or is extended by New BBX Capital’s Board in accordance with the terms of the rights plan.

The rights plan may have an anti-takeover effect and will be an impediment to a proposed takeover which is not approved by New BBX Capital’s Board.

The foregoing description of New BBX Capital’s rights plan is a summary only, is not complete and is qualified in its entirety by reference to the full text of the rights plan, a copy of which will be filed as an exhibit to a Current Report on Form 8-K to be filed by New BBX Capital with the SEC.

About BBX Capital Corporation: BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) is a Florida-based diversified holding company whose principal investments include Bluegreen Vacations Corporation (NYSE: BXG), BBX Capital Real Estate, BBX Sweet Holdings, and Renin. For additional information, please visit www.BBXCapital.com.

Bluegreen Vacations Corporation:

Bluegreen Vacations Corporation (NYSE: BXG) is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in popular leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, vacation ownership plan with approximately 219,000 owners, 68 Club and Club Associate Resorts and access to nearly 11,400 other hotels and resorts through partnerships and exchange networks as of June 30, 2020. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. Bluegreen is approximately 93% owned by BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), a diversified holding company. For further information, visit www.BluegreenVacations.com.

Forward-Looking Statements:

This press release contains forward-looking statements. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements. The forward-looking statements in this press release are also forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on current expectations and involve risks, uncertainties and other factors, many of which are beyond the control of the Company and New BBX Capital, that may cause actual results or performance to differ from those set forth or implied in the forward-looking statements. These risks and uncertainties include, without limitation, risks related to the proposed spin-off of New BBX Capital, including that actual plans, actions and results relating to the spin-off may differ materially from current expectations, that the spin-off may not be consummated on the contemplated terms, or at all, that the distribution may not occur on the date currently contemplated, uncertainties regarding the trading of New BBX Capital’s Class A Common Stock and/or Class B Common Stock, including that trading may not commence when or as currently anticipated, that the Company may, in the sole discretion of its Board of Directors, abandon the spin-off at any time prior to its consummation notwithstanding shareholder approval of the spin-off, that, if consummated, the spin-off may not result in the benefits anticipated, uncertainties related to the tax effects of the spin-off to the Company’s shareholders, and other risks and uncertainties related to the spin-off as set forth in the definitive proxy statement filed by the Company with the SEC on August 27, 2020 and mailed to the Company’s shareholders, including the “Risk Factors” section thereof; and risks associated with the rights plan adopted by New BBX Capital, including that it may adversely impact the liquidity and market price of, or trading market for, New BBX Capital’s Class A Common Stock or Class B Common Stock, and that the rights plan may have an anti-takeover effect. In addition, reference is also made to other risks and factors detailed in reports filed by the Company with the SEC, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, and New BBX Capital’s filings with the SEC, including its Registration on Form 10, as amended, each of which may be viewed on the SEC’s website at www.sec.gov. The Company’s filings with the SEC are also available in the Investor Relations section of the Company’s website at www.BBXCapital.com. The foregoing factors are not exclusive. You should not place undue reliance on any forward-looking statement, which speaks only as of the date made. Neither the Company nor BBX Capital undertakes, and each of them specifically disclaims any obligation, to update or supplement any forward-looking statements, except as may be required by law.

Celebrate National Cooking Day with a Look Inside Vacasa’s Top Vacation Rental Kitchens

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PORTLAND, Ore.–()–Recipe searches have surged and yeast supplies have dwindled as people take up cooking as a new stay-at-home hobby. Since today is National Cooking Day, it seems an especially fitting time to tie on an apron and celebrate at home—or, if you’re lucky, in a vacation rental. At this point in 2020, we could all use a getaway and a little comfort food, right?

Whether you’re ready to hit the road, planning ahead for the holidays (when a prime kitchen is essential), or simply looking for design inspiration after an DIY marathon, we’ve rounded up some of our favorite chef’s kitchens, selected from Vacasa’s 25,000 professionally managed vacation homes:

“Over the past several months, vacation rentals have been the preferred accommodation for guests who have opted to travel throughout the pandemic,” said Operations Director Josh Viner. “The kitchen is the heartbeat of a vacation home, where everyone gathers to relax, share stories and make memories. As we look toward the holiday season, we expect to see increased interest in larger kitchen spaces, and perhaps a little less interest in outdoor spaces as the weather cools.”

When searching vacation rentals in any destination, Vacasa recommends checking local regulations prior to traveling due to COVID-19.

About Vacasa

Whether travelers are looking to book a weekend getaway or the trip of a lifetime, Vacasa is the trusted partner for all things vacation rental. Vacasa homeowners enjoy industry-leading financial returns on their vacation homes, delivered by the company’s unmatched technology platform that adjusts rates in real time and ensures revenue is always maximized. Guests can relax comfortably in one of Vacasa’s 25,000+ professionally managed homes, knowing that 24/7 customer care is just a phone call away. In the past 10 years, Vacasa and its licensed subsidiaries have grown to become North America’s largest full-service vacation rental management platform. For more information, visit https://www.vacasa.com/press. The Vacasa app is available to download on the Apple Store and Google Play.

Colony Capital Announces the Sale of Hospitality Portfolios

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LOS ANGELES–()–Colony Capital, Inc. (NYSE: CLNY) (“Colony Capital” or the “Company”) today announced it has entered into a definitive agreement to sell six of its hospitality portfolios to Highgate, a premier real estate investment and hospitality management company, in a transaction valued at $2.8 billion, including $67.5 million of gross proceeds on a consolidated basis and the assumption of $2.7 billion in consolidated investment-level debt. The six portfolios consist of 22,676 rooms across 197 hotel properties.

As part of the transaction with Highgate, Colony will transfer (i) five of the six portfolios held in the Hospitality segment and (ii) an approximately 55% interest in the THL Portfolio held in the Other Equity and Debt segment. The sixth portfolio in the Hospitality segment, the Inland portfolio, is under receivership and is excluded from the transaction. This transaction will reduce the Company’s consolidated debt outstanding by $2.7 billion, including Colony Capital’s $2.3 billion pro-rata share.

The transaction is consistent with Colony’s stated intention of simplifying its business profile to focus exclusively on digital infrastructure assets. In addition to the strategic benefits of exiting the hospitality business, Colony Capital expects to generate segment and corporate-level G&A savings post-closing.

“We are thrilled to be delivering on our commitment to dispose of non-core assets and harvest positive value for our hospitality business. With its strong track record, unique insights into the hospitality market and creative approach to hotel management, we are confident that Highgate is ideally suited to own and operate these properties,” said Marc Ganzi, CEO of Colony Capital. “The sale of our legacy hospitality assets is a significant milestone in Colony’s digital transformation as we pivot to focus exclusively on our fast-growing digital businesses that generate superior returns for Colony shareholders.”

“We are excited to continue working with the Colony team in executing on this unique transaction,” said Mahmood Khimji, Co-Founder and Managing Principal of Highgate. “Despite the unprecedented disruption in hospitality over the past six months, we remain bullish on the long-term secular trends in our industry, and look forward to partnering with the many employees, franchisors, lenders, and other important stakeholders across these portfolios as we work towards a successful recovery.”

The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and third-party approvals.

Moelis & Company served as financial advisor to Colony Capital in connection with the transaction and Willkie Farr & Gallagher LLP served as legal counsel. Latham & Watkins LLP served as legal counsel to Highgate.

About Colony Capital

Colony Capital, Inc. (NYSE: CLNY) is a leading global investment firm with a heritage of identifying and capitalizing on key secular trends in real estate. The Company manages a $46 billion portfolio of real assets on behalf of its shareholders and limited partners, including over $20 billion in digital real estate investments through Digital Colony, its digital infrastructure platform. Colony Capital, structured as a REIT, is headquartered in Los Angeles with key offices in Boca Raton, New York, and London, and has over 350 employees across 20 locations in 11 countries.

About Highgate

Highgate is a leading real estate investment and hospitality management company with over $10 billion of hospitality assets under management, Highgate has a longstanding track record of operating assets for the industry’s largest REITs, private equity firms, institutional funds and private investors. Highgate is a dominant hotel player in key gateway markets throughout the United States and across the Caribbean and Latin America, and operates more than 160 hotels and approximately 45,000 rooms around the world.

Cautionary Statement regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference include, without limitation, whether the Company will complete the sale of its hospitality portfolios within the timeframe anticipated or at all, including the Company’s ability to obtain any necessary third-party approvals to consummate the transaction, whether the Company will realize any of the anticipated benefits from the transaction, including generating segment and corporate-level G&A savings post-closing and simplifying the Company’s business profile to focus exclusively on digital infrastructure assets, in the time anticipated or at all, the Company’s ability to divest of non-core assets and the timing of such divestiture, the pace of growth of the Company’s digital businesses, the Company’s ability to achieve superior returns from its digital businesses for the Company’s shareholders and other risks and uncertainties, including those detailed in Colony Capital’s Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 and its other reports filed from time to time with the U.S. Securities and Exchange Commission (“SEC”). All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Colony Capital cautions investors not to unduly rely on any forward-looking statements.

The forward-looking statements speak only as of the date of this press release. Colony Capital is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and Colony Capital does not intend to do so.

Service Properties Trust Sends Notice of Payment Shortfall to Marriott for Agreement Covering 122 Hotels

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Business News first on FIR:

NEWTON, Mass.–()–Service Properties Trust (Nasdaq: SVC), or SVC, today sent a letter to Marriott International, Inc. (NYSE: MAR), or MAR, requesting MAR advance $11.0 million to cover the shortfall between the payments SVC has received to date from MAR and 80% of the priority returns due to SVC for the eight months ended August 2020. MAR has 10 days from receipt of the letter to make the payment, or SVC will have the right to terminate its agreement with MAR.

SVC’s agreement with MAR covering 122 hotels (2 Marriott®, 2 Springhill Suites®, 12 TownePlace Suites®, 35 Residence Inns®, 71 Courtyards®) in 31 states currently requires annual minimum returns of $194.6 million and currently expires in 2035. Both the security deposit that SVC previously held to secure the minimum return payments under this agreement and the $30 million guarantee provided by MAR have been fully utilized.

If MAR does not make the requested payment and SVC terminates the agreement, SVC currently plans to transition management and branding of these 122 hotels from MAR to Sonesta International Hotels Corporation, or Sonesta. SVC owns approximately 34% of Sonesta and would share in the benefit of this new management agreement and in the hotels’ performance to the extent they ramp up in the post-pandemic recovery.

About Service Properties Trust

Service Properties Trust is a real estate investment trust which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada with 149 distinct brands across 23 industries. SVC’s properties are primarily operated under long-term management or lease agreements. SVC is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), or RMR Inc., an alternative asset management company that is headquartered in Newton, Massachusetts.

Warning Concerning Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever SVC uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, SVC is making forward-looking statements. These forward-looking statements are based upon SVC’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by SVC’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond SVC’s control. For example:

  • This press release states that SVC has the right to terminate its agreement with MAR if MAR does not make the payment shortfall to cover 80% of the minimum returns due to SVC. There can be no assurance MAR will make this payment or what actions SVC will take if it does not.
  • This press release also states that, absent the requested payment from MAR, SVC plans to transition management and branding of 122 hotels from MAR to Sonesta. In addition, this press release states that SVC has an approximate 34% ownership interest in Sonesta and that SVC would share in the benefit from this new management agreement and in the hotels’ performance to the extent they ramp up in the post- pandemic recovery. However, Sonesta may not operate these hotels profitably and SVC may not receive the benefit it would expect to receive. Further, it is not known how long the pandemic will last or how severe it will be, including its continued impact on the hotel industry. Moreover, it is not known how long it will take the economy to recover following the pandemic or what adverse changes on the hotel industry may be realized, such as if business and leisure travel are significantly reduced on a long-term or permanent basis. These and other factors may adversely affect the performance of these hotels, regardless of which operator is operating them.

The information contained in SVC’s filings with the Securities and Exchange Commission, or SEC, including under the caption “Risk Factors” in SVC’s periodic reports, or incorporated therein, identifies other important factors that could cause differences from SVC’s forward-looking statements. SVC’s filings with the SEC are available on the SEC’s website at www.sec.gov.

You should not place undue reliance upon forward-looking statements.

Except as required by law, SVC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

GBAC STAR™ Cleaning Accreditation Lands at Montreal-Trudeau International Airport, Professional Sports Stadiums, Hotels & More

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Business News first on FIR:

NORTHBROOK, Ill.–()–The Global Biorisk Advisory Council® (GBAC), a Division of ISSA, has awarded GBAC STAR™ accreditation to 57 new facilities this week. Montreal-Trudeau International Airport in Montreal, CenturyLink Field, home to the NFL’s Seattle Seahawks, in Seattle, Lincoln Financial Field, home to the NFL’s Philadelphia Eagles, in Philadelphia, additional Hyatt properties and more are recognized for their thorough approach to cleaning, disinfection, and infection prevention.

“Each week, we see more organizations achieve GBAC STAR accreditation and others commit to completing this process because they are dedicated to protecting their patrons and employees,” said GBAC Executive Director Patricia Olinger. “While it’s unclear when the COVID-19 pandemic will end, we are certain that accredited facilities have the highest regards for health and safety in this new normal along with a commitment to continuous improvement going forward.”

GBAC STAR is an important indicator of a facility’s ability to prepare, respond, and recover from infectious disease and biohazard threats. The accreditation is renewed annually to encourage organizations to document their progress and continually strive for improvement.

The following facilities are now GBAC STAR accredited:

Airport

  • Montreal-Trudeau International Airport in Montreal

Convention Centers

  • America’s Center in St. Louis
  • ASM Global – Antiguo Casino de Puerto Rico in San Juan, Puerto Rico
  • Buffalo Niagara Convention Center in Buffalo, N.Y.
  • Calgary TELUS Convention Center in Calgary, Alberta
  • Charlotte Convention Center in Charlotte, N.C.
  • Edmonton Convention Center in Edmonton, Alberta
  • Edmonton EXPO Centre in Edmonton, Alberta
  • Gatlinburg Convention Center in Gatlinburg, Tenn.
  • Monona Terrace Community and Convention Center in Madison, Wisc.
  • Oakland Convention Center in Oakland, Calif.
  • Pennsylvania Convention Center in Philadelphia
  • Raleigh Convention and Performing Arts Complex in Raleigh, N.C.
  • Tampa Convention Center in Tampa, Fla.
  • Visalia Convention Center in Visalia, Calif.

Hotels

  • Adare Manor, a Leading Hotels of the World member property, in Adare, County Limerick, Ireland
  • Andaz Singapore in Singapore
  • Due Torri Hotel in Verona, Italy
  • Grand Hyatt Jeju in Jeju-do, South Korea
  • Grand Hotel Majestic gia Baglioni in Bologna, Italy
  • Grand Hyatt at SFO in San Francisco
  • Hotel Kabuki in San Francisco
  • Hôtel Martinez in Cannes, France
  • Hyatt Centric Las Condes Santiago in Santiago, Chile
  • Hyatt Centric Waikiki Beach in Honolulu
  • Hyatt House Augusta/Downtown in Augusta, Georgia
  • Hyatt House San Jose Airport in San Jose, Calif.
  • Hyatt House San Ramon in San Ramon, Calif.
  • Hyatt Place Fort Lauderdale/Plantation in Plantation, Fla.
  • Hyatt Place Nashville/Franklin/Cool Springs in Franklin, Tenn.
  • Hyatt Place Zurich Airport The Circle in Zurich
  • Hyatt Regency Chesapeake Bay Golf Resort, Spa & Marina in Cambridge, Md.
  • Hyatt Regency Danang Resort and Spa in Danang, Vietnam
  • Hyatt Regency Denver Tech Center in Denver
  • Hyatt Regency Hengqin in Hengqin, China
  • Hyatt Regency London – The Churchill in London
  • Hyatt Regency Sacramento in Sacramento, Calif.
  • Hyatt Regency San Antonio Riverwalk in San Antonio
  • LEVEL Furnished Living – Chicago Old Town in Chicago
  • LEVEL Furnished Living – Chicago River North in Chicago
  • LEVEL Furnished Living – Los Angeles Downtown – Flower in Los Angeles
  • LEVEL Furnished Living – Los Angeles Downtown – South Hill in Los Angeles
  • LEVEL Furnished Living – Los Angeles Downtown – South Olive in Los Angeles
  • Llao Llao Resort, Golf & Spa in Bariloche, Argentina
  • Motif Seattle in Seattle
  • Okura Prestige Bangkok, a Leading Hotels of the World member property, in Bangkok
  • Park Hyatt Maldives Hadahaa in the Maldives
  • Park Hyatt Vienna in Vienna

Industrial/Commercial

  • Abington Reldan Metals in Fairless Hills, Penn.
  • Allied Restoration Services, Inc. in West Covina, Calif.

Retail

  • Japan House Los Angeles in Los Angeles
  • The Avenue Viera in Viera, Fla.

Stadiums/Performance Venues

  • BC Place, home to the MLS’s Vancouver Whitecaps and the CFL’s BC Lions, in Vancouver, B.C.
  • Blumenthal Performing Arts in Charlotte, N.C.
  • CenturyLink Field in Seattle
  • Lincoln Financial Field in Philadelphia
  • Mizner Park Amphitheater in Boca Raton, Fla.

“The GBAC STAR program is the gold standard of prepared facilities and will help the public gauge an organization’s commitment to the elevated standard of cleanliness that is now essential,” said ISSA Executive Director John Barrett. “We are thrilled to welcome additional facilities in North America, Europe and Asia this week.”

Apply for GBAC STAR facility accreditation at gbac.org/star. To view the list of accredited facilities, committed facilities, and industry supporters, visit https://gbac.issa.com/gbac-star-facilities-and-supporters/.

About GBAC, a Division of ISSA

Composed of international leaders in the field of microbial-pathogenic threat analysis, mitigation, response and recovery, the Global Biorisk Advisory Council (GBAC), a Division of ISSA, provides training, guidance, accreditation, certification, crisis management assistance and leadership to government, commercial and private entities looking to mitigate, quickly address and/or recover from biological threats and real-time crises. The organization’s services include biorisk management program assessment and training, Forensic Restoration® response and remediation, the GBAC STAR™ facility accreditation program, training and certification of individuals and consulting for building owners and facility managers. For more information, visit www.gbac.org.

About ISSA

With more than 9,300 members—including distributors, manufacturers, manufacturer representatives, wholesalers, building service contractors, in-house service providers, residential cleaners and associated service members—ISSA is the world’s leading trade association for the cleaning industry. The association is committed to changing the way the world views cleaning by providing its members with the business tools they need to promote cleaning as an investment in human health, the environment and an improved bottom line. Headquartered in Northbrook, Ill., USA, the association has regional offices in Mainz, Germany; Whitby, Canada; Parramatta, Australia; Seoul, South Korea; and Shanghai, China. For more information about ISSA, visit www.issa.com or call 800-225-4772 (North America) or 847-982-0800.

92% of US Doctors Tell Patients Not to Wait to Get the Flu Shot this Season

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Business News first on FIR:

NEW YORK–()–Week 14 of Sermo’s COVID-19 Real Time Barometer survey revealed that 92 percent of physicians in the United States are recommending that patients get their annual flu shot as soon as possible in light of the COVID-19 pandemic. In New York and California, the number of physicians recommending a flu shot immediately jumps to 96 percent and 94 percent, respectively.

While the U.S. Centers for Disease Control and Prevention traditionally recommends patients receive a flu shot by the end of October to help combat the virus during flu season, almost all (85%) of the 2,400+ Sermo doctors surveyed from September 17-20 across 31 countries are encouraging their patients to receive a flu shot immediately.

“Each year, the flu sickens millions and hospitalizes hundreds of thousands of people during the fall and winter months. The elderly are especially hard hit every year,” said Peter Kirk, Sermo CEO. “While physicians always recommend flu shots, the fact that almost all are recommending that patients receive a vaccine sooner rather than later shows just how concerned they are about the potential for flu to deplete valuable resources in the middle of this historic pandemic.”

The survey also found that physicians, like everyone else, are already planning on either eliminating or sharply curtailing travel plans during the holiday season because of COVID-19. Worldwide, 68 percent of physicians said that their holiday travel plans are ‘significantly impacted’ by the pandemic. Overall, in the U.S., 66 percent of physicians said they didn’t plan to travel with their families, but those numbers jumped to 83 percent and 70 percent in New York and California, respectively.

Other findings from the survey include:

  • As many as 65 percent of physicians worldwide indicated that they had ordered a COVID-19 test for a patient while 42 percent said they have treated a patient for COVID-19.
  • In the U.S., 70 percent of physicians have ordered a COVID-19 test while 44 percent said they have treated a patient for the illness.
  • In New York, the numbers increase to 76 percent and 47 percent, respectively. In California, the percentage of physicians ordering tests mirror those nationwide.

The numbers follow the belief physicians have that a second surge of COVID-19 cases is on the horizon. Globally, 93 percent of physicians expect a second wave of cases as the Northern Hemisphere enters the fall and winter months, and people spend more time indoors.

About the Real Time Barometer

The Real Time Barometer is an observational study of the impact of the COVID-19 outbreak as reported by physicians with firsthand experience treating COVID-19 patients. Each week, thousands of physicians provide insights on topics regarding the global health crisis. To date, Sermo has conducted over 60,800 interviews with doctors in 31 countries, including the United States, Canada, United Kingdom, France, Brazil, Russia, China, Japan and Australia. Full results are available at sermo.com.

About Sermo

Sermo is the largest healthcare data collection company and social platform for physicians, reaching 1.3MM healthcare professionals across 150 countries. The platform enables doctors to anonymously talk real-world medicine, review treatment options via our proprietary Drug Ratings platform, collectively solve patient cases, and participate in medical market research.

For more information, visit sermo.com.