Lafayette Indiana Intercontinental Hotel
This is a paperback that tells the story of the Lafayette Indiana Intercontinental Hotel, the last to be built and the first of its kind in the United States. Historical results of the hotel operation, including the decision of the company to own the hotel from 6 March 2020, as well as historical photos and illustrated antique postcards. It is now available in paperback, hardcover, e-book and digital formats (PDF, PDF and Kindle).
The non-GAAP measures represent the amount available to management in the event that capital replacement or capital increase is required. These measures are not prepared in accordance with generally accepted US accounting principles and may differ from those applied by other companies. In addition, they are not based on a comprehensive set of accounting rules or principles and do not reflect all amounts associated with the cash flow, net income, earnings per share and other financial statements of the Company in accordance with or in addition to the parent company's accounting policies and practices. They are a useful measure to fund its cash needs, including its ability to distribute, but they may not constitute amounts available for management's discretionary use of capital compensation and expansion.
The Company presents the following twelve-month net operating income and net earnings per share as measures that it believes provide investors and analysts with an understanding of the hotel's operating performance. The table above presents the Company's financial results for the first six months and the last twelve months and should not be considered a substitute for net income calculated in accordance with GAAP.
Based on the operational development of the hotel in 2019, the contractually agreed selling price reflects the average annual selling price of the hotels in the first six months of 2019. Based on the operational performance of the hotel in 2019-2020 and the company's expectations for the next twelve months, it reflects the decreased selling prices for all its hotels and the total number of hotel rooms in its hotel portfolio. Based on operating performance, the fiscal years 2019-2023, based on operating performance in 2019, reflected the contractually agreed sales prices.
Based on the operational development of the hotel in 2019, the contractually agreed selling price reflects the average annual selling price of the hotels in the first six months of 2019. The program is expected to generate annual savings of $125 million in 2020, and IHG estimates that the savings will be achieved in fiscal years 2019-2023, with an additional $103 million in 2018.
Dora has achieved excellent customer satisfaction by providing high quality customer service in its hotels. IHG has a global portfolio of cloud-based hotel solutions designed to increase demand for third-party services. The sale of Lafayette Indianapolis Intercontinental Hotel and the other hotels of DORA Hotel Group will be used for general business purposes, including the reduction of the Company's outstanding debt.
Hotels managed by the Dora Hotel Company benefit from reduced prices and cost savings from the purchasing power of IHG's cloud-based hotel solutions. Hotels can benefit from savings on everything from bed linen to insurance, which adds to the value of the property.
A recent story on the hotel's website states that IHG's history in Latin America dates back to 1946, when the first InterContinental Hotel opened in Brazil. The first two hotels of the Intercontinental Hotel will be operated in Rio de Janeiro and Sao Paulo, Brazil, the next two in Sao Paolo, Argentina. Next, the Intercontinental Hotel Rio Grande do Sul in Buenos Aires opened in 2002. IhG, the world's largest hotel company with more than 1,000 hotels and resorts, has built up major hotel brands including hotels in the US, Canada, Australia, New Zealand, South America, Europe, Asia and Africa.
The two partners have acquired the InterContinental Hotels Group as a part owner and operator of the hotel, and it embeds the part owner and operator of these hotels in the United States, Canada, Australia, New Zealand and South America.
The brand joins other IHG suite brands, including Staybridge Suites and Candlewood Suite, and is part of the InterContinental Hotels Group's portfolio of luxury hotels, which make up more than 90 percent of the company's total hotel portfolio. In addition to the rapidly growing luxury segment, I have acquired the luxury suite brands of Marriott International and Hilton Worldwide, as well as a number of middle- and upper-end brands. As part of its efforts to expand its brand portfolio and position itself as the world's largest luxury hotel operator, it has launched a new upper and middle-class suite brand in New York City, Atwell Suits, in partnership with Marriott Worldwide.
By contrast, IHG manages about 90% of its hotels in emerging markets such as China and less than 10% in the US. The pressure comes from Marriott and Hilton, which have large luxury portfolios, including the world's largest portfolio of luxury suites in over 1,000 hotels.