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Hotel Investors Trust

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BUSINESS
September 13, 1988
Hotel Investors Trust, a Woodland Hills real estate investment trust, said it will pay a quarterly dividend of 50 cents a share on Nov. 1 to shareholders of record as of Oct. 10. The company's shares are paired and traded together on New York Stock Exchange with Hotel Investors Corp., which manages hotels. But Hotel Investors Trust Chief Executive John F. Rothman hinted that future dividends will be cut.
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BUSINESS
June 27, 1994 | From Times Staff and Wire Reports
Local Realty Trust to Merge: Starwood Capital Group of Westport, Conn., said it has agreed to trade an unspecified number of its hotels for controlling stakes in Los Angeles-based Hotel Investors Trust and its affiliate, Hotel Investors Corp. The real estate investment trust will be renamed Starwood Lodging Trust, and Hotel Investors Corp. will be renamed Starwood Lodging Corp.
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BUSINESS
May 24, 1988
Hotel Investors Trust in Woodland Hills said it has agreed to sell its three remaining Vagabond motor hotels to Northview Corp. for $11.5 million in cash. The hotels are in Woodland Hills, Rosemead and Sacramento. Northview Corp. formerly was headed by Ivan Boesky, who is serving a prison sentence for insider trading. Northview was recently acquired by Calmark Financial Corp. in Los Angeles.
BUSINESS
June 14, 1988
Hotel Investors Corp., a management company whose stock is paired with Hotel Investors Trust and trades singularly as Hotel Investors, said it will operate two Las Vegas hotel-casinos owned by Hotel Investors Trust of Woodland Hills. Hotel Investors Corp., based in San Diego, acquired a leasehold interest in the properties and certain gaming equipment at the hotels for about $2 million. A leasehold interest represents Hotel Investors Corp.'s right to manage the buildings under a lease.
BUSINESS
May 6, 1986
Hotel Investors Corp. and its operating company, Hotel Investors Trust, both of Chevy Chase, Md., have agreed in principle to acquire Woodland Hills-based Hotel Properties in an exchange of stock valued at more than $90 million, Hotel Properties reported. The companies are all real estate investment trusts. No date was set for completion of the deal, which hinges on approval by the three boards. Hotel Properties, with rental revenue for 1985 of nearly $8.
BUSINESS
May 22, 1990
Hotel Investors Trust and Hotel Investors Corp., which jointly report their financial results and have their stocks paired on the New York Stock Exchange, said they lost $1.11 million in the first quarter, compared with a year-earlier loss of $388,000. The deeper loss in the quarter that ended March 31 came despite an increase in the companies' revenue to $29.3 million from $27.5 million and mainly reflected lower earnings at their two hotel-casinos in Las Vegas, the companies said.
BUSINESS
October 9, 1990 | From a Times Staff Writer
Hotel Investors Trust, the target of separate buyout bids from a Newport Beach investment group and a Japanese company, said Monday that both prospective deals have fallen through. The bids were made by First West Capital Corp. of Newport Beach, which offered $5.25 per share, or $63.5 million, and Park Plaza Inc., an affiliate of Japan's EIE International Corp., which bid $5 a share, or $61 million.
BUSINESS
May 16, 1989
Hotel Investor Firms to Hire Investment Bankers: Hotel Investors Trust and Hotel Investors Corp., two companies whose shares are paired on the New York Stock Exchange, said they plan to hire investment bankers to consider ways for boosting the shares' value. Hotel Investors Trust, based in Woodland Hills, invests in lodging properties and Hotel Investors Corp. is a hotel management concern. The companies said they took the action because their shares have been underpriced and do not reflect "their intrinsic value."
BUSINESS
May 23, 1989
Hotel Investors Trust and Hotel Investors Corp., whose shares are paired together on the New York Stock Exchange and which jointly report their financial results, posted a $388,000 loss in the first quarter, compared with year-earlier profit of $1.21 million. Woodland Hills-based Hotel Investors Trust invests in lodging properties, while Hotel Investors Corp. is a hotel management concern. The companies said their loss in the quarter that ended March 31 came despite a gain in revenue to $27.5 million from $19.7 million.
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