Despite rising costs outpacing revenue growth in 2024, the hotel industry sees potential for recovery in 2025 through increased guest spending, job growth, and major events.
Peachtree Group has surpassed $2 billion in hotel development across 48 nationwide projects, including new builds in Alabama, Dallas, and multiple Qualified Opportunity Zone developments.
Sonesta International Hotels Corporation has partnered with Mint Developers to build The James Hotel & Residences Downtown Miami, an $850 million, 82-story tower set to open in 2028.
Hyatt Hotels Corporation announced a record pipeline of 138,000 rooms, expanded its Lifestyle Portfolio with acquisitions, appointed new leaders, and continues to strengthen its brand offerings for growth and profitability.
Barry Sternlicht is set to revive the Starwood brand through his current hotel management company, SH Hotels & Resorts, rebranding it as Starwood from February.
U.S. hotel construction surged in Q4 2024, reaching 6,378 projects and 746,986 rooms, with strong year-over-year growth and continued expansion projected through 2026.
Hilton is expanding on Maui with a new Hampton Inn & Suites opening in April and the conversion of Maui Seaside Hotel into a Tapestry Collection by 2026.