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North America
Blackwells Withdraws Offer to Purchase Braemar Hotels
Blackwells Capital attempted to buy Braemar Hotels & Resorts, failed, and is now trying to elect four directors to BHR’s board despite owning a minimal amount of shares, facing opposition and legal action from BHR. -
North America
Hilton’s Loyalty/Glamping Move
Hilton announced a new exclusive partnership with AutoCamp to offer Hilton guests an experience that blends the spirit of an iconic outdoor adventure with the hospitality and design-forward thinking of a boutique hotel. -
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
Hyatt Unveils Luxury Development Pipeline
Citigroup downgraded Sonder Holdings from Buy to Neutral, with a new price target set at $4.Choice Hotels criticized Wyndham Hotels & Resorts for misrepresenting the lodging industry’s competitive landscape. This criticism came after Wyndham’s recommendation for shareholders to reject CHH’s exchange offer and their discontinuation of discussions regarding a potential transaction with CHH. Hyatt announced plans to open over 35 luxury hotels and resorts globally through 2025, including new Park Hyatt locations in the UK, Mexico, and Malaysia, and expanding the Thompson Hotel brand in Europe. -
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
U.S. Hotel Sales Fell in First Half 2023
Stock Market: DJIA rises while Nasdaq and S&P 500 experience slight declines. Hotel Sales: Major U.S. hotel sales show decreases in transactions, dollar volume, and prices per key. Hotel Developments: Construction progresses on a skyscraper in New York and new hotels are planned in Virginia , Connecticut , and South Carolina . -
North America
Kimpton Adds Resorts, Goldman Sachs Buys Resorts
Kimpton’s first-ever resort in the Western Caribbean is officially opening this summer, with the debut of the new Kimpton Grand Roatan in the Bay Islands of Honduras . According to The Wall Street Journal, Goldman Sachs is investing between 150 million and 200 million euros in three seaside resorts in the northern region of Halkidiki . Key International completed the purchase of The Perry Hotel on the waterfront in Key West, FL as part of an ambitious expansion of its $2 billion portfolio. -
North America
Sonesta to Reflag Two Properties to The James Brand
Lodging stocks were mixed but the biggest movers were to the upside. VCSA and SLNA both rose 6% on the day. The Baird/STR Hotel Stock Index fell -10% in December. That put all of 2022 down -15% from 2021. The Hotel Brand sub-index was down -9.2% in December from November while the Hotel REIT sub-index was down -12.8% Sonesta International Hotels Corporation announced the expansion of its global development strategy to include The James brand as part of the Sonesta Franchise portfolio in the U.S. and in Latin America.