Business Travel Spending to Hit $1.5 Trillion This Year
Business travel is set to surpass pre-pandemic levels in 2024, with global spending projected to reach $1.5 trillion, driven by strong growth in the U.S. and China.
Four Seasons
Hoshino Resorts to Debut First U.S. Luxury Hotel in New York State
Hoshino Resorts is set to open its first new-build hotel in the United States by 2028, bringing a 40-room luxury resort to the small town of Sharon Springs, New York, marking a significant expansion for the renowned Asian hotel operator.
Forecasting the Medium-Term Hurricane Impact on Hotels
Baird predicts short-term negative impacts on hotel revenues from recent hurricanes but expects a boost in the intermediate term due to FEMA, insurance, and clean-up crew spending, especially benefiting select service and extended-stay hotels
Choice Hotels Introduces Design Package for HoteliersÂ
Choice Hotels International is expanding its portfolio of solutions for its extended-stay hotel conversions with the introduction of Lobby in a Box, a modular design package.
Global Tourism Numbers in First 7 Months Beat 2023, Approach 2019
International tourism in the first seven months of 2024 grew by 11% compared to 2023, nearing 2019 levels, with all regions showing strong recovery, led by the Middle East, and many countries exceeding pre-pandemic arrival numbers and receipts.
Hotels Could Benefit From Cut in Interest Rates
Analysts expect the Fed's interest rate cuts to boost hotel REIT earnings, with Ashford Hospitality Trust and Braemar Hotel Trust being the biggest beneficiaries.
Hotel Construction in Los Angeles Declines
Hotel construction in Los Angeles has significantly declined, with many projects facing foreclosure or bankruptcy, and financing difficulties limiting new developments.
Asia Pacific Hotel Outlook Mixed for Next Year
JLL's latest survey forecasts mixed fortunes for the Asia Pacific hotel sector in 2024/2025, with optimism in North, South, and Southeast Asia, caution in Australasia and Greater China, and varied expectations for revenue, occupancy, and Capex investments.
Four Seasons Expands Portfolio of Luxury Private Residences
Four Seasons Resort Vail is launching Tavernetta Vail in Winter 2024 as part of a series of upgrades, while the company expands its global luxury residential portfolio with significant growth and new leadership.
Hyatt to Buy Standard International's Brands
Hyatt Hotels announced plans to acquire Standard International's brands and affiliates, creating a new lifestyle group led by Amar Lalvani, with a $150 million base purchase and potential additional payments.