Monday, June 5, 2023
North America

Marriott’s Next New Midscale Brand

  • Marriott International, Sonesta International Hotel Corporation, and Pyramid Global Hospitality, announced plans for expansion and introduced new brands in different locations, including Latin America, Canada, and several U.S. states.
  • Accor highlighted the progress of its branded residences business, with numerous projects under development worldwide, including Dubai, Australia, and South Korea.
  • The Plasencia Group facilitated the sale of The Westin Tampa Bay, and Dan Hansen returned from retirement to lead Hyatt’s new mid-market extended-stay brand, Hyatt Studios, with a significant development pipeline.

The DJIA fell 200 points while Nasdaq was down 11, the S&P 500 fell 9 points and the 10-year treasury yield was nearly flat at 3.69%. Lodging stocks were lower despite what seemed like optimism from the NYU show. SOND was down -10% and SHCO was down -6% to top the big movers. Marriott International, Inc. plans to further expand in the affordable midscale […]

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In Today's Issue - North America

Companies

Accor, Aimbridge Hospitality, Auberge Resorts Collection, Autograph Collection, Benchmark Pyramid Luxury & Lifestyle, City Express, Classico, Courtyard by Marriott, Delano, Ennismore, Fairmont, Hampton by Hilton, Hilton Garden Inn, Hilton Hotels & Resorts, Hyatt Hotels Corporation, Hyatt Place, Hyatt Studios, IHG Hotels & Resorts, Kimpton, LuxUrban Hotels Inc., Mama Shelter, Margaritaville Hotels & Resorts, Marriott International, MCR, MOD, Mondrian, Ohana Real Estate Investors, Pacifica Hotels, Park Hotels and Resorts Inc., Raffles, Related Companies, Residence Inn by Marriott, SLS, SO/ Hotels & Resorts, Sonder Holdings Inc., Sonesta International Hotels Corporation, Sotherly Hotels Inc., Standard International, Summit Hotels, The Standard, Viceroy Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Westin Hotels & Resorts

Locations

Atlanta, Calgary, California, Cancun, Chicago, Florida, Kansas City, London, Mexico, Miami, Minnesota, New York City, Orlando, Rhode Island, San Francisco, Scottsdale, Tampa