Host earnings: Host Hotels & Resorts released its Q4 2014 earnings, reporting net income improved US$132 million to US$258 million for the fourth quarter, and US$422 million to US$747 million for full year 2014. The strongest markets for the fourth quarter were San Francisco and Hawaii, where comparable RevPAR increased 11.8% and 14.9%, respectively. For the full year, San Francisco was the strongest market in the company’s domestic portfolio, with comparable RevPAR growth of 15.2%.
Zurich MGallery sold: Accor announced the sale and management-back agreement for the Zurich MGallery with a private investor for a total of €55 million (US$62.64 million). The total amount includes the sale price of €32 million (US$36.45 million) and a commitment from the buyer to carry out €23 million (US$26.2 million) worth of renovations as soon as the transaction is finalized. The hotel will continue to be operated by Accor under a long-term management contract.