Mid-Market Report: RLJ Buys Hyatt Hotel in Atlanta

By EarningsFOXBusiness

RLJ Lodging Trust (NYSE:RLJ) has acquired Hyatt’s (NYSE:H) Atlanta Midtown hotel for $49.5 million.

RLJ Lodging says it purchased the 194-room hotel with proceeds from its recent equity offering. The company expects that the hotel will benefit from its strong location and the relative scarcity of Hyatt-branded hotels in midtown Atlanta.

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NetSuite (NYSE:N) has bought Venda, a London-based e-commerce provider, for undisclosed terms. NetSuite, which is a cloud-based financial software company, said the deal will support its expansion into the European market.

Travelzoo (NASDAQ:TZOO) reported mixed second-quarter earnings. The Internet travel company made an adjusted profit of 30 cents a share, a penny above Wall Street’s estimate. But revenue fell 11% from a year ago to nearly $37 million, missing the forecast.

Travelzoo says in North America, its revenues declined due to lower local and search revenues, as previously announced. In Europe, revenues and operating income increased.

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