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Tempo by Hilton Breaks Ground on First Hotel in Louisville

  • Hilton’s new elevated yet approachable brand is off to the races, breaking ground in Louisville, Kentucky less than 60 days after its launch

MCLEAN, Va. – Hilton (NYSE: HLT) today announced the start of construction of its very first Tempo by Hilton property, hosting a groundbreaking ceremony in Louisville, Kentucky’s trendy NuLu neighborhood. The 130-key, six-story hotel is located at 710 East Jefferson Street and is co-owned by First Hospitality and Weyland Ventures. This inaugural Tempo by Hilton property is slated to open in time for the 2021 Kentucky Derby. 

Breaking ground less than eight weeks from the Tempo by Hilton brand launch, this milestone marks one of the shortest time periods from brand announcement to groundbreaking in Hilton history. Additionally, the brand continues to exhibit robust deal momentum, with more than 30 confirmed deals in cities including New York, Maui, Boston and Washington D.C., as well as an additional 40 deals in various stages of development. 

“We’ve seen an incredible response from owners who are excited about Tempo by Hilton, and we are working together with them to bring this new offering to market in record time,” said Phil Cordell, SVP and global head of new brand development, Hilton. “The brand delivers a unique blend of elevated yet within reach offerings that have been specifically developed to appeal to the burgeoning class of modern achievers, and we believe that the NuLu neighborhood is exactly the kind of place where Tempo by Hilton will not only fit in but thrive.” 

In line with the brand’s commitment to localized touches in each property, this first Tempo by Hilton groundbreaking saw brand representatives and local dignitaries gather for an exciting event that included nods to the historic Kentucky Derby with details such as a burst of rose petals that evoked the famous race also known as the “Run for the Roses”. The ceremonial groundbreaking was symbolized by the staking of a Tempo by Hilton flag into the property site ground.

“We are excited to be the first city in the world to welcome the Tempo by Hilton brand,” said Louisville Mayor Greg Fischer. “Our city’s economy is booming, with more than $15 billion in investment since 2014, more than 1,200 hotel rooms added in the past 18 months, and an additional 1,100 hotel rooms under construction. The Tempo by Hilton will add to that great economic vitality.”

Once open, the new Tempo by Hilton Louisville NuLu will offer a rooftop bar, allowing patrons to sip in style as they take in the surrounding skyline. The property will provide guestrooms that have been designed as welcoming treats with the brand’s signature Power Up and Power Down collections to assist guests with getting energized for the day or winding down for the night, as well as inviting public spaces, including flexible meeting space, a state-of-the-art fitness center, and surprising, uplifting artistic touches.

“As part of the next generation leading First Hospitality, a long-time Hilton partner, I’m beyond proud that we are breaking ground on the very first hotel of this next-generation brand,” said Sam Schwartz, VP of Asset Management for First Hospitality. “We couldn’t be more excited for this property to be going up in NuLu, a neighborhood known for its rich arts and culinary scenes.”

Thoughtfully designed with the modern achiever in mind, the new Tempo by Hilton Louisville NuLu will also provide complimentary coffee and tea via the in-lobby Fuel Bar, as well as a range of additional food and beverage options including an innovative café-style offering serving a variety of smoothies, lattes, breakfast sandwiches, bowls and more, limited market, and in-lobby bar specializing in both spirited and non-spirited craft cocktails.

Tempo by Hilton Louisville NuLu will participate in Hilton Honors, the award-winning guest loyalty program for Hilton’s 18 world-class brands. Hilton Honors members who book directly through preferred Hilton channels will have access to instant benefits, including a flexible payment slider that allows members to choose nearly any combination of Points and money to book a stay, an exclusive member discount, and free standard Wi-Fi. Members can also enjoy popular digital tools available exclusively through the industry-leading Hilton Honors mobile app where Hilton Honors members can check-in, choose their room and access their room using Digital Key.

More information about Tempo by Hilton can be found at www.tempobyhilton.com.

Avianca Advances Plan to Manage Outstanding Liabilities

BOGOTA, Colombia, July 22, 2019 /PRNewswire/ — Avianca Holdings S.A. (NYSE: AVH) today announced that, in connection with its previously announced re-profiling plan for its capital structure, the company has temporarily deferred payments on certain long-term leases and on payment of principal on certain loan obligations.  Avianca Holdings has engaged in discussions with its main strategic lenders and other creditors to establish terms that will preserve current liquidity levels and enable Avianca Holdings to advance its re-profiling plan, which is aimed at strengthening the company’s financial position. Over the last two weeks, members of Avianca Holdings’ senior management team have met with more than 50 of Avianca Holdings’ strategic lenders and other creditors with the objective of reaching an agreement on the terms and conditions of the proposed deferrals. Importantly, obligations related to Avianca Holdings’ day-to-day operations remain current, and such operations, including flight schedules and other ordinary course operations, will remain unaffected.

Avianca Holdings affirms that it is current on all existing interest obligations and that Avianca Holdings actively seeks to arrive at a mutually satisfactory agreement with its strategic lenders and other creditors for a short-term deferral of principal amortization payments, as well as extensions of its credit facilities. Avianca Holdings intends to resume scheduled principal payments once these agreements have been successfully reached, as Avianca Holdings’ proposal is for all creditors to be paid in full, including principal and interest.

In connection with its re-profiling program, Avianca Holdings today made a separate announcement regarding an exchange offer for its outstanding 8.375% Senior Notes due 2020. Avianca Holdings is current on its interest obligations with respect to its outstanding senior notes and is not otherwise in default on its outstanding 2020 Senior Notes.

Avianca Holdings has the full support in this decision of its Board of Directors.  Since May 24, 2019, Kingsland Holdings, through its ownership of ordinary shares of Avianca Holdings and authority to vote the ordinary shares of Avianca Holdings owned by BRW Aviation LLC, has effective control of Avianca Holdings.  As previously announced, United Airlines and Kingsland Holdings have indicated that they would be willing to offer new financing to Avianca, if required and requested, of up to $250 million, provided that certain commitments are assumed by other interested parties.

With the announced temporary suspension of principal payments, as well as the previously announced proposed financing by United Airlines and Kingsland Holdings, and the continued implementation of Avianca Holdings’ 2021 transformation plan, Avianca Holdings expects to strengthen its cash balances in the near future, at which time, Avianca Holdings will resume normal payment of its obligations.  Furthermore, Avianca Holdings has stated that the outstanding 2019 Colombian Peso-denominated corporate bond issued by Aerovías del Continente Americano – Avianca S.A. is not part of the deferral program and that such bond will be paid in accordance with its terms.

About Avianca Holdings
Avianca is the commercial brand that identifies the passenger, cargo transportation airlines and on ground services integrated in the Company with a team of more than 21,000 employees. The terms “Avianca Holdings” or “the Company” refer to the consolidated entity. The original source-language text of this announcement is the official, authoritative version, Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.

Airbus To Resume Deliveries To HNA Group

TOULOUSE, France (Reuters) – Airbus (AIR.PA) is poised to resume stalled deliveries of jets to China’s debt-laden HNA Group, an Airbus schedule showed on Monday, but deliveries of over $1 billion of large jets remain behind schedule after months of wrangling over late payments.

Visitors to an Airbus delivery center in Toulouse on Monday saw at least two Airbus A330 aircraft and one smaller A320-family jet in position for handover to HNA-affiliated airlines. An electronic sign welcomed crew for an imminent A320 delivery.

“Some (HNA) planes will be delivered,” an industry source said.

However, another six A330 aircraft painted in flame-red HNA tail liveries remained parked in long-term storage elsewhere in Airbus’s Toulouse base, according to Reuters journalists, who were attending an event at the facility for the first delivery of the upgraded A330neo version to TAP Portugal.

“Deliveries are ongoing. Contractual terms are confidential,” an Airbus spokesman said, when asked about HNA deliveries.

Companies belonging to the Chinese aviation-to-finance conglomerate delayed payments earlier this year, leading Airbus to suspend deliveries rather than step in to provide delivery financing itself, Reuters reported in July.

Airbus said last month it hoped to resolve by year-end an unidentified commercial issue surrounding current-generation A330 airplanes, which industry sources afterwards linked to the HNA payments stand-off.

Under pressure from Beijing, HNA Group is in the process of selling some $20 billion of assets, according to Reuters calculations and media reports, following a $50 billion acquisition spree.

Airbus aims to deliver a total of 782 aircraft this year including the stored HNA aircraft.

(Reporting by Tim Hepher. Editing by Jane Merriman)

Image from www.hainanairlines.com

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