It’s the first appearance for Actual, Jackie O’s and Fat Head’s. Actual’s visit is a special treat for local beer drinkers because the Columbus brewery isn’t normally available in the area. in Toledo has released a new seasonal beer called DarkanDirty Coffee Stout, a brew made with coffee from the Maddie & Bella Coffee Co. Brewer Paul Traver said Maddie & Bella has provided coffee to the brewery for special beers at festivals around Toledo over the last year. "So this was a great chance to really get them involved in something that will be more than a one-shot festival beer," he said in an email. had a very good 2013. The Cleveland brewery, which celebrated its 25th anniversary, reported Thursday that beer shipments climbed 22 percent to 142,673 barrels last year. The company, the oldest craft brewery in Ohio and also the largest Ohio-based craft brewer, added that it’s exploring expansion opportunities "to keep up with growing demand." Those plans may be finalized by the summer. Beer Engine to tap Buckeye-Rivertowne beer Feb. Tuesday (Feb. 18) at the Buckeye Beer Engine in Lakewood. The tapping event will feature Buckeye brewer Garin Wright and Rivertowne brewer Andrew Maxwell. There’s no talking in the four-minute video.You just hear the song Sheep Go to Heaven by Cake. won three medals at last weekend’s Dublin Craft Beer Cup Competition in Ireland. The competition was part of the Alltech International Craft Brews and Food Fair. Burning River Pale Ale received a silver, while Eliot Ness Amber Lager and Edmund Fitzgerald won bronze medals. Here you go: — The Cleveland Plain Dealer reports that Ohio has been tabbed as a test market for a new Busch beer. Busch Signature Copper Lager is being released in 12 states. To read the full story, click here. The pale ale is Buckeye Lake Pale Ale. The Irish red ale is Buckeye Lake Irish Red Ale. You get the idea. to offer the brewerys flagship lager, Dortmunder Gold Lager, for sale at 44 of its restaurants throughout Northeast Ohio. We are always finding new opportunities to challenge the way people think about fast food, Jennifer Craig, Cleveland marketing strategist for Chipotle, said in a prepared statement. Were so excited to work with Great Lakes Brewing Co. and enhance the dining experience of our loyal customers by adding Dortmunder Gold to the menu. Beer Institute: 948 new brewing permits issued in U.S. last year, with the majority of those being brewpubs, the Beer Institute says. The Washington, D.C.-based trade group analyzed permits issued by the Alcohol and Tobacco Tax and Trade Bureau (TTB) and found there were 948 new permits issued and a record-high 3,699 active breweries. Four states account for one-third of all breweries: California, Washington, Colorado and Oregon, the Beer Institute said. For the first time, the event, which is celebrating its eighth year, will open its doors an hour early for VIP ticket-holders and provide special, limited brews for them. The festival is from 7 to 11 p.m. Feb. 28 at the Lucas Recreation Center Hall No. 2 . VIP ticket-holders get in at 6 p.m. 10) at The Brew Kettle in Strongsville. It runs through Sunday (Feb. 16).
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Average room rates increased 4.4% year over year to $205.44 and occupancy rose 140 basis points (bps) to 73.0% on a year-over-year basis, in the comparable hotels. On the other hand, comparable hotel adjusted operating profit margin upped 130 bps year over year at 25.6% and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose 2.5% to $322 million on a year-over-year basis. Portfolio Restructuring Activity in Q4 During the quarter, Host Hotels spent $26 million in redevelopment and return on investment (ROI) expenditures. The company also expended nearly $64 million in renewal and replacement expenses. Additionally, Host Hotels used up approximately $7 million for capital and operational improvement of the acquired asset. In the quarter under review, Host Hotels paid $19.9million as a final incremental amount for the buyout of the fee simple interest in the land at the New York Marriott Marquis Times Square. Also, the company attributed $25 million, paid in accordance with the ground lease terms, towards the land acquisition. Moreover, Host Hotels divested the Four Seasons Hotel Atlanta (including the furniture, fixtures and equipment replacement fund) for $63 million and garnered a profit of about $11 million from it. Additionally, the company offloaded the Dallas/Addison Marriott Quorum by the Galleria (including the furniture, fixtures and equipment replacement fund) for $56million and reaped a profit of around $15million from the sale. Liquidity As of Dec 31, 2013, Host Hotels had cash and cash equivalents of $861 million, up from $417 million at the prior-year end. Dividend Hike On Feb18, 2014, the board of directors of Host Hotels authorized a quarterly cash dividend of 14 cents per share. This depicts a 7.7% increase over the last dividend payment of 13 cents. The dividend is payable on Apr 15, 2014 to shareholders of record on Mar31. 2014 Outlook Host Hotels provided guidance for 2014 adjusted FFO per share in the range of $1.40-$1.44. The Zacks Consensus Estimate of $1.43 for the same lies within this guidance. Our Take We are encouraged with the impressive quarterly results at Host Hotels. We believe that given its solid portfolio of luxury and upper upscale hotels, the company is poised to deliver better results in the quarters ahead too. Notably, the strategic portfolio restructuring activities bode well for Host Hotels’ long-term growth. Also, the dividend hike for the 13 th consecutive time boosts investors’ confidence in the stock and thus seems promising. Going forward, we believe that the company’s properties across hard-to-replicate areas have the potential for significant capital appreciation.
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