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North America
U.S. Shows Increase in Hotel Pipeline Activity
The Americas is the only region to show an increase in hotel construction and development activity in the first quarter of 2024, contrasting with declines or slower growth in Europe, Asia Pacific, and the Middle East and Africa. -
North America
MCR to Turn London’s BT Tower Into a Hotel
The BT Tower will be transformed into a hotel after the telecom giant inked a £275m deal to sell the London landmark to MCR Hotels. -
North America
MCR Refinances Its Hotel Portfolio
MCR has refinanced a 16-hotel portfolio for $333 million, generating $51 million of net proceeds. In less than three years, MCR doubled the portfolio’s new operating income, increasing it from $15 million at acquisition to $36 million. -
North America
Hilton’s New Partnership With Small Luxury Hotels of the World
Hilton and Small Luxury Hotels of the World announced an exclusive strategic partnership that will welcome Hilton guests to hundreds of independently minded luxury hotels in the most sought-after destinations around the world. -
North America
Accor Plans to Open 100 Luxury and Lifestyle Hotels by 2025
Accor will open 100 luxury and lifestyle hotels by 2025, with plans to sign at least 50 more projects per year. -
North America
IHG and Best Western Announce Openings
IHG Hotels & Resorts announced the opening of a new build Holiday Inn Express & Suites hotel in Arkansas, while Best Western Hotels & Resorts announced the opening of the Best Western Halito Inn in Oklahoma. -
North America
Melia Hotels Announces International Push
In 2024, the company’s expansion plans include an initial goal of opening more than twenty hotels and continuing to sign as many new projects. -
North America
Global Deal Announcement Slowed in First 9 Months of 2023
U.S. hotel RevPAR rose by 4.9% for the week, with rates up by 4%. Group RevPAR also increased by 13.3%. Truist adjusted ratings and target prices: lowered ratings for some companies (e.g., Bluegreen Vacations), raised target price for Bluegreen Vacations, and decreased target prices for Hilton Grand Vacation, TNL, and VAC. A significant decline in deals across travel and tourism sectors globally during January-October 2023 compared to the same period in 2022, affecting various regions and deal types. -
North America
IHG’s Group Quarterly RevPAR Up 12.8% Over 2019
IHG reported strong earnings, including a 10.5% increase in Group RevPAR, but disappointed shareholders by deferring capital returns. The US group business is rebounding well, with top markets nearly fully recovered to 2019 levels. Prominent cities like Austin, Nashville, and Denver exceeded 2019 figures. Various hotel developments and acquisitions are ongoing in different locations, reflecting the industry’s resilience and growth prospects. Notably, TMGOC Ventures secured approval to introduce the first Ritz-Carlton in Savannah. -
North America
Hyatt Plans 30+ Properties in the Americas
B of A Securities gives IHG Hotels & Resorts a Buy rating. Sonder announces a 1-for-20 reverse stock split. Hyatt plans to expand with over 30 new hotels in the Americas by 2025, emphasizing luxury, resort, and lifestyle rooms. Miraval Resorts unveils its spa after a $60 million renovation. Raffles Boston and The Fontainebleau Las Vegas announce their openings.