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North America
MCR Looks to Miami Hotels
MCR plans to build two eight-story hotels with a total of 400 rooms and additional parking facilities next to the Hilton Miami Airport Blue Lagoon. -
North America
Selina’s Leaders Move to Soothe Worries
Selina Hospitality issued an update, emphasizing management’s confidence through executive stock conversions and alignment with shareholders, clarifying that insider stock sales were automatic transactions for tax purposes, not discretionary market sales. -
North America
Hilton Increases Canadian Portfolio
Hilton’s expansion in Canada includes nearly 20 deals signed in 2023, with plans to introduce Spark by Hilton and Motto by Hilton in 2024 – aiming to surpass 200 hotels. -
North America
Starwood Capital to Transfer 10 Hotels to a SPAC
Starwood Capital Group signed a deal with SPAC Jaws Mustang Acquisition to merge. If completed, the SPAC will become the direct or indirect owner of Starwood entities’ interests in an initial portfolio of 10 properties, including the 1 Hotel Brooklyn Bridge. -
North America
Hilton Grand Vacations Completes Acquisition of Bluegreen Vacations
Hilton Grand Vacations Inc. completed the previously disclosed acquisition of Bluegreen Vacations. The transaction broadens HGV’s offerings, customer reach, and sales locations, creating a premier vacation ownership, and experiences company. -
North America
Marriott Hits Milestone with 500th Luxury Hotel Opening
Major hospitality companies reported mixed trends at the Morgan Stanley Global Consumer & Retail Conference, with lodging demand remaining positive but margins affected by high wages. Several companies, including Crescent Hotels & Resorts and HHM Hotels, announced the addition of new properties to their portfolios. Evermore Orlando Resort is set to open a unique beach paradise, and other hotels are undergoing significant renovations and refurbishments, indicating a continued focus on luxury and expansion in the hospitality industry. -
North America
Lodging Stocks End the Week Higher
Stock market rallied as treasury bond yields fell, with DJIA, Nasdaq, and S&P 500 gaining points, while lodging stocks like SOND, AHT, and others saw significant increases. Several hotel-related developments were announced, including renovations, new hotels, and property sales in various locations across the United States. Rosewood Hotels & Resorts will introduce Rosewood Blue Palace in Greece in 2025, while the British Colonial Hotel in Nassau, Bahamas, will reopen on December 12 after a $100 million renovation. -
North America
Truist Discusses Challenges in Choice Hotels and Wyndham Deal
JP Morgan expects strong international performance in 3Q23 RevPAR, net rooms, and pipeline growth, particularly driven by ADR gains. Truist discusses potential challenges and concerns in the Choice Hotels and Wyndham Hotels deal, including antitrust issues and franchisee resistance. US hotel industry reports a modest 0.8% YoY increase in RevPAR, with ADR compensating for soft occupancy; group RevPAR up 0.9% for the week ending 10/14. -
North America
Aimbridge Hospitality Signs First Property in Spain
Canopy by Hilton in Scottsdale, Arizona sold for roughly $102 million, and Home2 Suites by Hilton in Colonie, New York was acquired for $12.75 million. The Floridian Palace Hotel in Tampa is undergoing a $30 million renovation to become “The Flor” and join Hilton’s Tapestry Collection, while Fairmont The Queen Elizabeth in Montreal partners with Mattel for a Barbie-themed experience. Online travel companies, including Orbitz and Expedia, face a lawsuit in Nevada over alleged avoidance of hotel room taxes, potentially amounting to over $1 billion in damages. -
North America
Hyatt Announces Plans for New Short-Term Vacation Rental Platform
Barclays expects a weak quarter for lodging REITs in 3Q23 and adjusted price targets for several hotel stocks. Various hotels across the US, including Marriott Vail and Signia by Hilton Atlanta, are undergoing construction or renovation. Hyatt Hotels plans to launch a vacation rental platform, Homes & Hideaways, while Sonesta opens a new hotel in Houston and Mandarina Oriental expands into Zurich.