-
North America
WTTC Projects Record-Breaking Year for Travel
The World Travel & Tourism Council predicts 2024 will be a record year for the sector, with an economic contribution expected to hit $11.1 trillion, indicating robust growth and significant job creation. -
North America
Las Vegas Lifts U.S. Hotel Performance
U.S. hotel performance in February 2024 saw modest revenue gains driven largely by Las Vegas and major events, with luxury and upscale chains leading growth amidst varied demand across other segments. -
North America
Marriott Vacations’ New Timeshares Collection
Marriott Vacations Worldwide introduced The Marriott Vacation Clubs City Collection, featuring branded properties in seven cities with plans for expansion to other urban areas, including the addition of two Westin Vacation Club properties. -
North America
CBRE’s 2024 U.S. Hotel Industry Outlook
CBRE anticipates continued growth in the U.S. hotel industry in 2024, with a 3% RevPAR increase driven by recovery in international travel and strong segments performance, amidst challenges of increasing operational costs and pressure on profit margins. -
North America
Marriott’s Massive Expansion Across the Caribbean and Latin America
Marriott International announced a year of robust room signings and additions across the Caribbean and Latin America in 2023. The Company nearly doubled its number of organic deal signings in the region versus the prior year. -
North America
Las Vegas Hotels’ Super Bowl Bump
STR reported US lodging data for the week ended 2/10. US hotel RevPAR was up 3.9% with ADR up 7%. RevPAR in Las Vegas was up 140% year over year thanks to the Super Bowl. -
North America
Hilton’s New Partnership With Small Luxury Hotels of the World
Hilton and Small Luxury Hotels of the World announced an exclusive strategic partnership that will welcome Hilton guests to hundreds of independently minded luxury hotels in the most sought-after destinations around the world. -
North America
Global Hotel Rate Bubble Watch
A new report for 2023 shows 85% of markets with RevPAR higher than 2019. In terms of top-line performance, that means most markets have recovered from the significant declines caused by the pandemic. -
North America
Four Seasons Unveils Expansion of Residential Offerings
Four Seasons will develop the Four Seasons Residences at The Ocean Club in Nassau, Bahamas. This project, set to open in 2027, will include 67 Private Residences with luxurious amenities including an oceanfront pool, private cabanas, a beachfront restaurant, a spa, and more. -
North America
Ennismore Reveals Plans for 18 More Hotels
Jefferies upgraded Park Hotels to Buy from Hold, reflecting positive changes like the removal of their San Francisco assets. Meanwhile, they downgraded Choice Hotels to Underperform from Hold due to concerns over its acquisition strategy, specifically regarding Wyndham Hotels. Apple Hospitality REIT, Inc. announced the acquisition of the Springhill Suites by Marriott Las Vegas Convention Center for approximately $75 million. Bradford Allen Hospitality acquired two hotel properties in Riverhead, New York, planning significant renovations for both. PEG Companies opened The Moxy in the historic Luhrs Building in downtown Phoenix, Arizona. Hawkeye Hotels commenced construction of a Fairfield Inn & Suites in downtown Spartanburg, South Carolina, targeting a spring 2025 opening.