California

Choice Hotels missed earnings expectations and lowered RevPAR guidance, but maintained EBITDA guidance and continued significant stock buybacks.

Marriott Vacations Worldwide's stock fell sharply due to a disappointing earnings report and a significant loan loss provision, indicating struggles in the timeshare market.

Hotel production in the San Francisco Bay Area has nearly stopped in 2024, with only two new openings and uncertain prospects for ongoing projects.

Investors are concerned as Travel + Leisure Co. and Red Rock Resorts reported modest or solid earnings but saw stock declines, reflecting nervousness and a shoot-first-ask-later mentality on Wall Street.

Deloitte's 2024 Corporate Travel Report indicates rising corporate travel spending driven by increased prices and trip frequency, with significant growth expected through live events and client-related travel, alongside efforts in cost mitigation and sustainability progress.

U.S. travel demand is robust across hotel segments, driven by higher-income leisure and business travelers, but lower-income travel is declining, and recovery varies by hotel type and market, with international travel lagging behind domestic recovery.

Braemar Hotels and Blackwells Capital have reached an agreement ending their proxy battle, with Blackwells withdrawing nominations, supporting BHR proposals, buying more shares, and BHR adding an independent director with Blackwells' input.

San Francisco’s two largest hotels have lost over $1 billion in value, now worth $553.8 million, prompting a downgrade in bond ratings and a rush to sell before foreclosure.

IHG Hotels & Resorts announced the opening of a rebranded voco hotel in Upstate New York and a new Holiday Inn Express & Suites in Asheville, N.C.

The U.S. hotel industry showed improved performance in May 2024, with notable increases in occupancy, ADR, and RevPAR, especially in New York City.