Pittsburgh

Hospitality industry faces challenges amid cautious analyst forecasts. Dreamscape Hospitality celebrates growth with 40 properties in the pipeline.

Truist analysts said the hotel companies weren’t admitting it, but demand trends had been decelerating before the tariff shock.

Aimbridge Hospitality is restructuring its finances by converting $1.1 billion in debt to equity, securing $100 million in new capital, and shifting majority ownership to its first lien lenders, with completion expected in early 2025.

The U.S. hotel industry saw slight year-over-year performance improvements in November 2024, with New York leading occupancy gains among major markets.

STR reported U.S. hotel data for the week ended November 9. U.S. hotel RevPAR fell -3.5%, with occupancy down -3.5%.

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.

JP Morgan forecasts mixed 1Q24 results for the lodging sector, with slow RevPAR growth, strong net rooms growth, and moderating pipeline expansion, recommending selectiveness due to varied performance across companies.

Hilton acquires a majority stake in Sydell Group to globally expand the NoMad Hotels brand, with plans for up to 100 properties and integration into Hilton's commercial platforms, while NoMad Las Vegas will rebrand, addressing Hilton's gap in the luxury market.

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.

As of November 11, 2023, 79% of markets showed growth in Revenue Per Available Room (RevPAR) compared to 2019, with leadership positions shifting from Europe to other regions as the Northern Hemisphere approaches winter. New York City led U.S. hotel sales in the last three months with transactions totaling $1.35 billion, despite a significant decrease in overall disclosed hotel transaction volume in 2023 compared to 2022. Several key hotel developments and acquisitions include KSL Capital Partners acquiring Hersha Hospitality Trust, the opening of the avid hotel Chattanooga South - Ringgold, and proposed sales like the Hyatt Place Pittsburgh Airport hotel.