Choice Hotels’ Q3 results led to a stock uptick, while Marriott’s mixed report and lower Q4 guidance saw its shares decline despite share buybacks and a new cost-cutting plan.
Nautic Partners acquired Davidson Hospitality Group from KSL Capital Partners, with KSL remaining involved as a manager, marking Nautic's entry into hotel management ownership.
U.S. hotel revenue per available room rose 9.3% year-over-year for the week ending October 26, with New Orleans leading top markets at a 77.6% RevPAR increase – thanks in part to a Taylor Swift performance.
Wyndham Hotels & Resorts, in partnership with Reside, has launched its new Wyndham Residence brand in the U.S., offering upscale, residence-style accommodations in major cities like Houston and Washington D.C., with plans for expansion across top U.S. markets.
PMG and Hilton are developing the Waldorf Astoria Residences in Denver Cherry Creek, introducing the luxury brand to Colorado with 37 high-end residences and exclusive amenities managed by Hilton.
A report from last week's Lodging Conference points to a surge in hotel transactions due to maturing loans, growing construction, and renovation projects, despite labor challenges and softening RevPAR trends.
Service Properties Trust is reducing its dividend, selling 114 hotels to repay debt and save on capital expenditures, and will continue owning 34% of Sonesta while selling other properties.
AHT revealed they were notified by the NY Stock Exchange for failing to meet the minimum $1 bid price requirement and will implement a 1-for-10 reverse stock split to regain compliance.