Many U.S. hotel companies reported earnings, with RLJ Lodging Trust beating estimates but giving a softer forecast, Xenia Hotels missing across the board, and Host Hotels posting a modest beat despite hurricane impacts.
A proposed bill in New York City aims to ban nonunion hotels from outsourcing key functions, potentially disrupting hotels that subcontract consumer-facing work to firms that pay employees lower wages for tasks like housekeeping and security.
ECHO Suites Extended Stay by Wyndham opened its first location in Spartanburg, South Carolina, marking a milestone for the brand with a development pipeline of nearly 270 hotels.
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.
Soho House dissolved its Independent Special Committee after rejecting an offer for strategic transactions, causing discontent among shareholders due to the stock's low trading price.