Aimbridge Hospitality Signs First Property in Spain

• Canopy by Hilton in Scottsdale, Arizona sold for roughly $102 million, and Home2 Suites by Hilton in Colonie, New York was acquired for $12.75 million.
• The Floridian Palace Hotel in Tampa is undergoing a $30 million renovation to become “The Flor” and join Hilton’s Tapestry Collection, while Fairmont The Queen Elizabeth in Montreal partners with Mattel for a Barbie-themed experience.
• Online travel companies, including Orbitz and Expedia, face a lawsuit in Nevada over alleged avoidance of hotel room taxes, potentially amounting to over $1 billion in damages.

The DJIA fell 74 points but Nasdaq was up 88 and the S&P 500 was up just less than half a point. The 10-year treasury yield resumed its upward move to 5%, up .11 to 4.68%. Lodging stocks were modestly lower. SOHO traded down to a new low. A Hilton-branded hotel in Old Town Scottsdale, Arizona, has been sold roughly three years after it opened […]