NTTO forecasts the total volume of international visitors to the U.S. will increase to 77.1 million in 2025, up 6.5% from 72.4 million visitors in 2024.
IHG is expanding its Vignette Collection with San Francisco's historic Hotel Spero and a new French property opening in 2025, featuring two transformed Tiara hotels.
Truist downgraded Playa Hotels & Resorts to Hold, seeing an increased likelihood of a Hyatt acquisition that could boost Hyatt’s share price as PLYA nears its $13 target.
U.S. hotels and travel companies are focusing on a surge in Indian tourists to offset declining domestic leisure spending and reduced demand from East Asia and Europe.
A report from last week's Lodging Conference points to a surge in hotel transactions due to maturing loans, growing construction, and renovation projects, despite labor challenges and softening RevPAR trends.
STR reported U.S. lodging data for the week ending August 31, showing a 3.6% rise in RevPAR, with ADR up 1.6% and occupancy up 1.9%. Group RevPAR increased 7.2% on a 7.1% occupancy boost.
B.Riley Securities downgraded Ashford Hospitality Trust. US hotel RevPAR increased by 6.3%. Innisfree Hotels acquired Hampton Inn in Florida; Apple Hospitality REIT bought Embassy Suites in Utah. Quality Inn in Cincinnati to become a senior living facility.
Ranchhod LLC acquired Country Inn & Suites in North Carolina. JMA Ventures and Machete Group developing a mixed-use project in Orlando. Prospera Hotel plans a new hotel in Seattle. The Charles Hotel in Massachusetts updated suites and dining areas. West Baden Hotel in Indiana undergoing roof repair.
Park Hotel in Ireland sold to Bryan Meehan. Como Hotels & Resorts opening new resort in Italy. Host AB sold a majority stake in Swedish hotels. Marriott introduced a new design for Courtyard in Berlin. The Standard International launching The StandardX in Melbourne, Australia.
Stock market decline: DJIA and Nasdaq both down, S&P 500 fell, causing investor anxiety due to rising interest rates.
Hotel acquisitions and auctions: Apple Hospitality acquires Courtyard by Marriott in Cleveland, Sheraton Bucks County Langhorne hotel up for auction, Holiday Inn in Charleston to become Live Oak in Marriott's Tribute Portfolio.
Hotel developments: Hampton Inn & Suites in Manistee near completion, Resorts World Las Vegas opens private members' club, Virgin Hotel in Dallas changes ownership, Kona Village in Hawaii opens as a Rosewood Resort.
Soho House reported mostly in-line estimates. Adjusted EBITDA was in line despite revenue being slightly lower than expectations.
Morgan Stanley upped their target price on Hyatt to $142 from $139 while maintaining their Overweight rating.
Marriott International announced a 30% increase in their quarterly dividend, to $0.52 a share.