Sonesta’s $850 Million Development Deal in Miami
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.
Vivid Hotels & Resorts
Wyndham Expands in the Extended-Stay Sector
WaterWalk, Wyndham’s 25th brandstands out from other hotel brands in that it lets owners sell a mix of rooms, with about 60% marketed as extended-stay hotel rooms and about 40% marketed as short-term rentals.
U.S. Hotels See Best Rates and Occupancy Since 2019
The DJIA ended Friday with a gain of 395 points, while NASDAQ was up 255, the S&P 500 rose 59 points and the 10-year treasury yield ticked up a little to 4.15%. Lodging stocks were mostly…
Wells Fargo Ups Price Targets on Lodging Stocks
Stock market performance: DJIA was up 86 points, Nasdaq up 158 points, and S&P 500 rose 33 points, while lodging stocks mostly declined.
Wells Fargo raised target prices on lodging stocks, including RHP, APLE, HST , and DHR , maintaining their ratings.
Various hotels underwent renovations, including Courtyard Louisville Airport and Chancellor's House Hotel , while new hotels were announced, such as the Hampton Inn & Suites in Pittsburgh and Riversuites in Philadelphia.
Less Caution, More Optimism: The State of the Hotel Industry
The hospitality industry is experiencing optimism and cautiousness, with hotels considering divesting assets and anticipating a potential distressed sale boom.
Hoteliers are optimistic about increasing demand, but face challenges such as high-interest rates, labor shortages, and decreased construction activity.
The U.S. hotel forecast shows improvements in occupancy, ADR, and RevPAR, while hotels are offering incentives to combat staffing shortages. International visitor arrivals to the U.S. continue to rise, with Mexico and Canada leading the way.