Barry Sternlicht is set to revive the Starwood brand through his current hotel management company, SH Hotels & Resorts, rebranding it as Starwood from February.
MCR secured $300 million in refinancing for a 22-hotel portfolio spanning 14 states, replacing $280 million in prior debt through a CMBS transaction with J.P. Morgan and BMO Capital Markets as co-leads.
Hilton plans to significantly expand its luxury hotel portfolio in Asia Pacific, aiming to surpass 150 properties by partnering with Small Luxury Hotels of the World and introducing new luxury brands to the market.
During the hotel group's earnings season, Hilton's report stood out as the most impressive – despite showing slowing RevPAR growth – due to strong performance in Net Unit Growth and EBITDA flow through.
Hilton announced a new exclusive partnership with AutoCamp to offer Hilton guests an experience that blends the spirit of an iconic outdoor adventure with the hospitality and design-forward thinking of a boutique hotel.
Citigroup downgraded Sonder Holdings from Buy to Neutral, with a new price target set at $4.Choice Hotels criticized Wyndham Hotels & Resorts for misrepresenting the lodging industry's competitive landscape. This criticism came after Wyndham's recommendation for shareholders to reject CHH's exchange offer and their discontinuation of discussions regarding a potential transaction with CHH.
Hyatt announced plans to open over 35 luxury hotels and resorts globally through 2025, including new Park Hyatt locations in the UK, Mexico, and Malaysia, and expanding the Thompson Hotel brand in Europe.
Morgan Stanley remains optimistic about the hotel industry's growth, forecasting a 2% RevPAR growth globally for next year, with potential for higher growth.
Selina Hospitality faces stock value decline and plans for delisting from Nasdaq.
The Leading Hotels of the World welcomed new members, including newly opened or renovated hotels in New York, California, China, France, Greece, Spain, Italy, and Venice.