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North America
Travel + Leisure Finalizes Accor Vacation Club Acquisition
Travel + Leisure Co. has closed the acquisition of the vacation ownership business of Accor. The acquisition is expected to be immediately accretive to Travel + Leisure Co. earnings. -
North America
Global Hotel Markets See Average Daily Rate Increases
Hotel growth in February was balanced with 64% of markets showing increased occupancy and 70% achieving a higher ADR than last 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
U.S. RevPAR Projected to Be 14% Above 2019 Levels Next Year
CBRE forecasts 3.0% RevPAR growth in 2024, driven by improved international travel and economic factors. Lodging stocks were mixed today with SOND biggest mover, down -12%, SHCO and AHT both down -6%, VCSA fell -5%. Various hotel projects announced, including new developments in Las Vegas and North Carolina, renovations in Nashville and Pocono Mountains, and upcoming openings in Florida and Virginia. -
North America
Puerto Vallarta Will Get an All-Inclusive by Marriott Bonvoy
Somm Hotel and Spa in Woodinville, Washington, part of Marriott’s Autograph Collection, is set to open in the summer of 2025 as part of a $700 million development. Home2 Suites by Hilton Houston/Katy in Texas completed renovations, featuring upgraded guestrooms and amenities. The Balbin Bros. Cigar Factory in Tampa, Florida, is undergoing transformation into a 70-room boutique hotel, aiming to open by March 2025 while preserving its historical value. -
North America
Graduate Hotels Launches a Short-Term Rental Brand
The vast majority of lodging company earnings, both REIT and C-Corp , have been very positive, with the REITs being the biggest surprise. Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel , to its Latitudes: Lifestyle by Crescent collection. Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta , from affiliates of Marriott Vacations Worldwide .