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Yahoo
3 hours ago
- Business
- Yahoo
Landingplace Hotels launches two midscale conversion brands
This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. Dive Brief: Landingplace Hotels launched two conversion-focused midscale brands: Landingplace Suites and Landingplace Select, the Bluffton, South Carolina-based company announced Monday. Landingplace was co-founded last year by real estate and hospitality veterans Jeremy Bratcher and Jacob Amezcua, who are targeting urban and suburban markets with Landingplace Select and Landingplace Suites, the company's first franchise offerings. In a statement, Amezcua said Landingplace aims 'to give owners a financially viable way to compete in a shifting market,' particularly in areas with strong business, medical and university demand where brand saturation limits new entries. Dive Insight: Landingplace Suites aims to bridge the gap between extended stay hotels and furnished apartments, according to the announcement. The hotels will offer apartment-style suites as well as 'locally inspired experiences,' such as food trucks, live music, community rooms and activated outdoor spaces for a 'lifestyle-driven experience.' Landingplace Select — designed for short-term, high-traffic stays — will prioritize streamlined operations through pay-per-use housekeeping and grab-and-go markets. The brand's hotels will feature 'simple, modern design and smart tech,' per Landingplace. The brands are designed to solve the challenges hotel owners face, 'from rising costs and staffing shortages to rigid brand standards and shifting guest expectations,' according to Landingplace. Landingplace's model includes increased distribution through long-term stays marketed on platforms like locally inspired design and lifestyle programming and 'cutting-edge' approaches to housekeeping and breakfast, per the announcement. The new company also claims to offer more 'flexible, cost-efficient' property improvement plan standards than legacy brands. 'As owners and operators ourselves, we've seen firsthand how rigid, outdated hotel systems fall short for today's guests and owners,' said Bratcher, who also serves as CEO, in a statement. 'We built Landingplace to close that gap — with brands designed for flexibility, simplicity and an owner-first approach, without compromising guest comfort or performance.' Brachter also noted that coming refinancing pressure as $5.8 billion in U.S. hotel loans are slated to mature this year, compounded by rising costs from property improvement plans and furniture, fixtures and equipment, is 'making it harder for owners to stay compliant or reposition assets profitably.' Earlier this month, Peachtree Group launched a $250 million fund designed to capitalize on hotel market dislocation as commercial real estate loans mature this year and hotels face refinancing and capital burdens. Last year, JLL projected that more hotel owners would sell than refinance as their loan maturity nears. Landingplace did not immediately respond to a Hotel Dive request for further comment.
Business Wire
3 days ago
- Business
- Business Wire
Landingplace Hotels Launches Two New Brands
BLUFFTON, S.C.--(BUSINESS WIRE)--Officials of Landingplace Hotels, a hotel franchisor built by operators for operators, today announced the launch of two midscale, conversion-focused brands aimed at solving the real challenges hotel owners face, from rising costs and staffing shortages to rigid brand standards and shifting guest expectations. Landingplace Hotels launched two midscale, conversion-focused brands, Landingplace Suites and Landingplace Select. Landingplace Suites bridges the gap between extended-stay hotels and furnished apartments, offering flexible 30+ night stays without leases. Guests enjoy apartment-style suites that combine home-like comfort with hotel convenience. Locally inspired experiences, such as activated outdoor spaces, community rooms, food trucks and live music, create a lifestyle-driven experience for long-term guests. Landingplace Select is a select-service brand designed for short-term, high-traffic stays. With lean operations, pay-per-use housekeeping and an expanded grab-and-go market, it is designed for streamlined operations and efficiencies. Simple, modern design and smart tech deliver a clean, guest-driven experience that's easy to operate and built for flexibility and simplicity. Founded by seasoned hospitality owners and operators, Landingplace Hotels delivers a flexible, operationally efficient model built around the goal of enabling owners to operate more profitably and adapt to rising costs, tighter financing and shifting guest expectations. Landingplace delivers unique value to owners by taking a cutting-edge approach to housekeeping and breakfast, increasing distribution opportunities through long-term stays marketed on platforms like and standing out in the crowded midscale market with locally inspired design and lifestyle programming, such as food trucks, live music and neighborhood partnerships. 'As owners and operators ourselves, we've seen firsthand how rigid, outdated hotel systems fall short for today's guests and owners,' said Jeremy Bratcher, CEO and co-founder. 'We built Landingplace to close that gap — with brands designed for flexibility, simplicity and an owner-first approach, without compromising guest comfort or performance.' Unlike legacy brands with blanket mandates, Landingplace offers flexible, cost-efficient PIP standards. 'According to Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, more than $5.8 billion in U.S. hotel loans will mature in 2025, creating major refinancing pressure,' Bratcher added. 'At the same time, rising PIP costs, FF&E expenses and interest rates are making it harder for owners to stay compliant or reposition assets profitably. Our model gives owners a smarter path forward engineered for operational simplicity and scalability with cost-efficient PIP standards, lean operations and flexible conversions and new builds that help properties stand out in a crowded midscale market.' Helping Owners Capture Untapped Demand Landingplace Hotels equips every property with built-in tools to enhance efficiency, reach untapped demand and simplify operations. Inventory is distributed across platforms like Furnished Finder, Airbnb and Zillow, attracting long-term guests most hotels miss. Each property uses HotelKey for its PMS, FLYR for AI-powered revenue management and Amadeus iHotelier for full-channel distribution. Guest-facing tools like Nonius and Yuvod TV for streaming, The Guestbook rewards program and Cvent Transient leads help properties increase loyalty, stand out and drive more revenue per stay. 'Everything we've built, from flexible, realistic PIP strategies and streamlined operations to tools that capture untapped demand, is designed to solve real challenges for owners,' said Jacob Amezcua, president and co-founder. 'We're hoteliers ourselves, and we know it's possible to run a leaner, more efficient hotel without sacrificing guest experience. In fact, streamlined operations with a focus on guest choice and flexibility often lead to a more personalized and memorable stay.' Executive Team Landingplace Hotels was co-founded by Jeremy Bratcher and Jacob Amezcua, who bring over 35 years of combined leadership in hospitality, franchising and real estate. Bratcher has held senior roles with leading hotel groups including IHG Hotels & Resorts, Spinnaker Resorts, MCR Hotels, Island Hospitality GF Hotels, and Starwood Hotels. Amezcua's background includes leadership at 3M and Experian, as well as experience with multifamily value-add and hotel conversion projects. The leadership team includes Stacy Bedsole, EVP of Brand & Marketing; Glenn Miller, EVP of Commercial Strategy; John Kelly, EVP of Franchise Operations; Orlando McRae, Director of Design & Construction; and Gus Stamoutsos, SVP of Franchise Development. Target Locations Development is focused on urban and suburban markets with strong business, medical and university demand, where brand saturation limits new entry and creates a need for flexible, financially viable alternatives. 'Landingplace was built to give owners a financially viable way to compete in a shifting market,' Amezcua added. 'Unlike legacy brands, we focus on operational simplicity, freedom within a framework and industry leading systems— all while delivering a guest experience that's flexible and tailored to meet modern guest needs.' About Landingplace Hotels Founded by hospitality and Fortune 500 veterans Jeremy Bratcher and Jacob Amezcua, Landingplace Hotels is a next-generation hotel franchisor built by operators for operators. Headquartered in Bluffton, S.C., Landingplace Hotels' brands provide flexibility and value-driven stay experiences for guests while streamlining operations and providing enhanced distribution opportunities for owners. The company currently provides franchise opportunities for Landingplace Suites, a midscale, ultra-extended stay brand, and Landingplace Select, a midscale, select-service brand more focused on transient guests. For additional information on the company, please visit or send inquiries to franchise@ The name of the franchisor is Landingplace Franchising LLC, and its address is 1050 Fording Island Road, Suite C #1055, Bluffton, SC 29910. This is not an offer to sell a franchise. An offer can only be made through delivery of a Franchise Disclosure Document. Certain states require registration of a franchise before offering or selling in that state. Landingplace franchises will not be offered to residents of those states unless and until the franchise has been registered or exempted as required. Those states include California, Connecticut, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. Operational outcomes will vary by location and operator. Landingplace Hotels does not make any guarantees regarding income or profitability. See Item 19 of our Franchise Disclosure Document for more information.
Yahoo
18-07-2025
- Business
- Yahoo
CoStar Group to Post Q2 Earnings: What's in Store for the Stock?
CoStar Group CSGP is slated to report second-quarter 2025 earnings on July company expects revenues to be between $770 million and $775 million, indicating year-over-year growth of 14% at the midpoint of the range. The Zacks Consensus Estimate for revenues is currently pegged at $771.67 million, suggesting growth of 13.85% from the year-ago quarter's levels. The consensus mark for earnings has remained unchanged at 14 cents per share in the past 30 days, suggesting a 6.67% decline from the figure reported in the year-ago Group's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 37.41%. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) CoStar Group, Inc. Price and EPS Surprise CoStar Group, Inc. price-eps-surprise | CoStar Group, Inc. Quote Let's see how things might have shaped up for CSGP prior to the announcement. Factors to Note CoStar Group's second-quarter performance is likely to have benefited from a robust portfolio of marketplaces, including LoopNet and growing momentum in driven by increased traffic and higher advertising spending, is likely to have aided CoStar's top-line growth in the to-be-reported quarter. CSGP has seen robust revenue growth across its major platform, and expects 10% revenue growth for the second quarter of continued to gain traction, reaching 104 million average monthly unique visitors in the first quarter of 2025, according to Google Analytics. Also, Traffic to CoStar Group sites reached 130 million average monthly unique visitors during the quarter. This momentum is expected to have continued in the to-be-reported strengthening international segment and its highest net new bookings in nearly three years, driven by its revamped sales strategy focusing on broad subscription packages, are expected to have bolstered LoopNet's performance in the to-be-reported quarter. LoopNet's revenue growth rate is anticipated to be 7% in the second challenging macroeconomic uncertainties and ongoing headwinds in the commercial real estate market are expected to have affected revenue growth. The segment is also anticipated to have experienced low single-digit revenue growth in the second quarter of 2025 due to the impact of first-quarter cancellations. Acquisitions Boost CSGP's Q2 Prospects CoStar Group's growth trajectory is likely to have been fueled by its consistent acquisition strategy. Its acquisition of Matterport represents a move toward integrating Matterport's 3D capture technology into CSGP's real estate marketplaces, thereby enhancing CoStar's offerings and capitalizing on the growing demand for virtual real estate is expected to have contributed approximately $40 million to second-quarter revenues, with plans to integrate its technology into CoStar's platforms, enhancing user engagement and reducing cancellations. What Our Model Says As per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case Group has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter. Stocks to Consider Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:Lam Research LRCX, Sensata Technologies ST and Infosys INFY are some stocks with favorable Reasearch has an Earnings ESP of +1.87% and a Zacks Rank #2 at present. Lam Research is slated to report fourth-quarter fiscal 2025 results on July 30. You can see the complete list of today's Zacks #1 Rank stocks Technologies has an Earnings ESP of +1.45% and a Zacks Rank #2 at present. Sensata Technologies is set to report second-quarter 2025 results on July 29. Infosys has an Earnings ESP of +1.06% and a Zacks Rank #2 at present. Infosys is scheduled to report first-quarter fiscal 2026 results on July 23. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Noble Gas Inc. (INFY) : Free Stock Analysis Report Lam Research Corporation (LRCX) : Free Stock Analysis Report Sensata Technologies Holding N.V. (ST) : Free Stock Analysis Report CoStar Group, Inc. (CSGP) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
18-07-2025
- Business
- Yahoo
Florida congressman facing eviction lived in luxury with 'magnificent views'
Rent is considerably higher in Washington than it is in Volusia County, but even by D.C. standards, the Maryland Avenue penthouse from which a Florida congressman could soon be evicted is pricy. Property managers say U.S. Rep. Cory Mills' rent is $20,833 a month. And what does that buy? A "light-filled home" with "premium finishes and magnificent views of the city, its iconic monuments and the Potomac," the building website states. "All with the services and amenities of a world-class hotel and central location." The National Mall is a couple of blocks away. The White House is 1.5 miles away. The Capitol Building is less than two miles to the east. In terms of living expenses, Florida's 7th District is distant. Online cost-of-living calculators suggest the D.C. metro area is more than 40% more expensive than Daytona Beach. Websites that track housing costs, such as and Zillow put the average rental unit at between $2,300 and $2,600 a month. Mills is a Republican who maintains a separate residence in New Smyrna Beach. He represents Seminole and southern Volusia counties in the 7th District. Why is Cory Mills facing eviction? Parcel 47F, LLC, the owner of Mills' building, is the plaintiff in a complaint for possession of real property filed on July 9, in a D.C. courthouse. It alleges Mills didn't pay more than $85,000 in rent between March and July, according to documents filed by Bozzuto Management Company − acting on behalf of the owner. Even before that, on Jan. 22, the property manager provided Mills with a "notice to pay rent" and "notice of intent to file a lawsuit." That document states he owed $18,229.05 and that he must pay that amount by Feb. 26 or vacate the apartment. Bozzuto included a ledger of fees and payments showing Mills had consistently paid his rent late, racking up nearly $15,000 in late fees over the previous 18 months. A hearing on the matter is scheduled for Sept. 8. What has Cory Mills said about the eviction case? Mills hadn't responded in court records as of July 17. He used social media to attack the first reporter to break the story about the eviction notice, Roger Sollenberger, who posted documents on X on July 14. In response, Mills wrote: "Facts are a finicky thing, but wouldn't expect you to be anything other than a biased hack!" Mills also posted what he suggested was proof of his attempt to make payments but they "failed to process." He posted screenshots of emails dated June 17 and July 3. But Mills has not directly addressed the substance of the landlord's complaint, that he hasn't been paying his rent and owes more than $85,000. He joined an X Spaces chat later on July 14, vowing: "I'm not going to continue to take these biased hacks who write these fake news journalist articles with zero input from the actual person they're attacking because they don't want to hear to the truth. You don't want to hear the truth? You don't want to ask? Don't worry, because I'm going to deliver it to you, anyway." Mills also hasn't responded to requests for comment from The News-Journal. What is near Southwest Federal Center? Mills' penthouse is in the Southwest Federal Center neighborhood, not far from the Jefferson Memorial at the foot of the 14th Street Bridge. That span crosses the Potomac River to Virginia, where the Pentagon is located. To the building's north, the National Mall and Washington Monument are within walking distance. The apartment is within two miles of the U.S. Capitol Building, where Mills serves in the House of Representatives. What are some of the amenities of a $20,000-per-month home? The building advertises private elevators for penthouse and sky suite residences "for discrete comings and goings." Windows look out over the District of Columbia, the Potomac River and Virginia. Open-plan concepts "offer chef kitchens with bold Italian cabinetry, Calacatta quartz countertops with full-height backsplashes and waterfall edges, and premier Thermador appliances." The $220 million building was designed by Robert A.M. Stern Architects and features 373 residences. Units include one-, two- and three-bedroom plans, ranging in space from 582 to 3,392 square feet. It also has a "rooftop oasis outfitted with an infinity pool, two expansive club rooms showcasing the property's one-of-kind views, a private board room equipped with conference capabilities, catering kitchen, a walking 360-degree 'Sky Track,' Capitol Overlook with a NanaWall, five semiprivate, fully landscaped outdoor living rooms with grilling stations, outdoor media space, three fire pits with seating and a piano lounge," according to a news release. What is Cory Mills' net worth? Mills had a financial disclosure form due, as required by law, on May 15. He filed for an extension, making his next disclosure due on Aug. 13. On Aug. 13, 2024, Mills filed a financial disclosure for the year 2023, but did not disclose any earnings − including his $174,000 congressional salary − other than commercial real-estate rental income for a building in Perry. The document only lists a range of between $100,001 and $1 million. In March 2023, Mills filed an amended disclosure to presumably clear up a discrepancy in his previous two filings. Mills earned $310,271 from his business, Pacem Solutions International, in 2022, while his spouse, Rana Al Saadi earned $233,469 from the same business, the document shows. Mills also collected rental income in the same range as 2023. It stated he had earned $587,248 from the business in the first two months of 2023, the year he entered the House. Quiver Quantitative, a website offering investors data, estimates Mills' net worth at $24 million, based on property and corporate ownership interests. However, Mills has said he is going through a divorce from his second wife, so it's unclear whether that matter is final and what assets he currently holds. Mills is also at the center of a House Ethics Committee investigation. Documents show the congressman may have omitted or misrepresented information on financial disclosures, accepted excessive campaign contributions, and benefited from government contracts while in office. Also, D.C. Metro Police on Feb. 19 responded to the congressman's penthouse after his live-in girlfriend initially complained that an unnamed person used his "hands/feet" during an assault. She later said bruising on her arms was caused by a medical condition. Metro Police say they sent an arrest warrant to the U.S. District Attorney's Office, but it was never signed. Thus, Mills has not been charged and he "vehemently denies any wrongdoing," according to a statement from his office. Political fallout for Cory Mills? Mills' 7th District seat is currently being sought by three Democratic candidates, while the Democratic Congressional Campaign Committee is actively seeking to unseat him. Madison Andrus, the DCCC's southern regional press secretary, attacked the congressman in a July 17 email for voting in favor of the reconciliation bill that the Kaiser Family Foundation estimates will reduce federal Medicaid spending by $1 trillion and increase the number of uninsured people by nearly 12 million. "While Mills has been living lavishly in D.C., he recently voted to cut the very programs his own constituents rely on," Andrus wrote. "In his district alone, over 51,000 people are at risk of losing their health care and more than 30,000 households rely on SNAP for food assistance." On his X Spaces appearance, Mills at one point appeared to acknowledge his fallibility. "I'm a real person. If you think that every single thing that everyone in Congress does or the White House or the Senate or anything else ... has a polished, shiny background who's never made any mistakes or done wrong, well, guess what? Wake up," he said. "At the end of the day, I'm not going to continue to pretend to be something or try to be something that I'm not." He added, though, that he's being targeted for a reason. "If they're smearing you, they're attacking you, they're coming after you, guess what? That must mean that you're doing something that scares them or you're trying to do something that disrupts status quo," Mills said. "That's what we have to do in D.C., is disrupt status quo." This article originally appeared on The Daytona Beach News-Journal: Cory Mills may need to leave 'magnificent views' behind if evicted Solve the daily Crossword
Time Out
25-06-2025
- Business
- Time Out
NYC apparently doesn't have the highest average rent in America—frankly, we're flabbergasted
New Yorkers are used to finishing first in many categories— bagels, Broadway, complaining—but according to a new report, our signature pastime of rent-related suffering might not top the charts anymore. That's right: As of February 2025, New York City no longer holds the crown for highest average rent in America. Pause for dramatic gasp. SmartAsset's latest ranking, based on Zillow's Observed Rent Index (ZORI), puts Boston at the top of the rent mountain, with an average monthly price tag of $3,495 for all homes. New York came in just behind at $3,489. Yes, by a mere $6, the financial equivalent of an oat milk latte. But don't get too comfortable. New York City rents did rise more steeply year over year, jumping 4.14-percent compared to Boston's 4.06-percent. And if you're a numbers person, you'll know that makes our rent pain a little more acute. Still, neither city saw the biggest hike: That dubious honor belongs to Newark, New Jersey, where rents surged 8.11-percent in just one year. From $2,073 to $2,241, Newark's five-year climb totals a whopping 46.5-percent, giving fresh ammo to New Yorkers who never bought the 'Jersey is cheaper' narrative. The rest of the top five reads like a California dream turned financial nightmare: San Francisco ($3,368), Irvine ($3,306) and San Jose ($3,131) rounded out the most expensive markets. California dominated the top 10 with five cities, proving that sunshine still costs a premium. SmartAsset analyzed rental data across 100 U.S. cities, comparing 2025 prices to 2024 and 2020. While renters in NYC may feel slightly vindicated, the reality is still grim: Our average rent is 144-percent higher than the national average, according to So no, we're not the most expensive anymore—but we're still painfully close. And until the day a one-bedroom drops below $2,000 without including a shower in the kitchen, we reserve the right to keep complaining.
