Corporate/Finance: Page 3

  • Marriott will add Sonder's portfolio of more than 9,000 rooms to its system.
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    Courtesy of Sonder
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    How a Marriott, Sonder tie-up could create value for both accommodations providers

    Marriott expects increased net rooms growth and market reach from the newly inked strategic licensing agreement, while Sonder banks on value creation for stakeholders.

    By • Aug. 20, 2024
  • Sonder offers apartment-style accommodations.
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    Courtesy of Sonder
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    Marriott to add Sonder rooms to system through strategic licensing agreement

    The partnership comes as Sonder fights legal battles with disgruntled investors and undergoes a portfolio optimization program to “mitigate losses.”

    By • Aug. 19, 2024
  • Travelers walk through an airport terminal that is displaying an American flag.
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    Scott Olson via Getty Images
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    CBRE reduces 2024 RevPAR forecast, notes challenges ahead for hotels

    Election-related events and international travel will buoy near-term RevPAR growth, but economic headwinds could pose risks for U.S. hotels.

    By • Aug. 19, 2024
  • Auberge Resorts Collection named Christian Clerc CEO.
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    Courtesy of Auberge Resorts Collection
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    Auberge Resorts Collection taps former Four Seasons exec as CEO

    Christian Clerc will take over for retiring CEO Craig Reid as the luxury hotel brand plots portfolio expansion across gateway urban markets and experiential destinations.

    By • Aug. 15, 2024
  • An aerial view of New York City.
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    Drew Angerer via Getty Images
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    Top trends driving US hotel investment in 2024

    Supply growth, travel demand and changes to the lending environment will guide hotel performance and investor appetite this year, according to a report from JLL.

    By • Aug. 13, 2024
  • The colorfully designed lobby at a hotel property.
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    Edwin Tan via Getty Images
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    Upper-tier hotel segments to see highest RevPAR growth in 2024-25: report

    STR and Tourism Economics maintain their hotel performance growth outlooks for each year and say changing traveler behavior will benefit higher tiers.

    By • Aug. 12, 2024
  • A business traveler check into a hotel in the hotel lobby.
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    Drazen_ via Getty Images
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    Hospitality trends that drove RevPAR gains, pipeline growth in Q2

    Heightened group travel boosted revenues for several hotel companies, while conversions and extended stay remained top of mind for developers.

    By • Aug. 9, 2024
  • Exterior of Choice Hotels International, Rockville Corporate Headquarters
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    Courtesy of Choice Hotels
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    Conversions, extended stay boost Choice Hotels pipeline

    In the second quarter of 2024, the hotel company’s global pipeline increased 22% year over year, including a 65% increase in conversion rooms.

    By • Aug. 8, 2024
  • Red armchairs in Tempo by Hilton's lobby, which has floor-to-ceiling windows with views of Times Square
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    Courtesy of Hilton
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    Group travel growth buoys Hilton’s Q2

    Meanwhile, its system surpassed 8,000 hotels in July, CEO Chris Nassetta shared — also claiming that Hilton has more rooms under construction than any other hotel company.

    By • Aug. 7, 2024
  • An exterior image of a hotel
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    Ethan Miller via Getty Images
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    ‘Healthy’ Vegas group demand drives strong Q2 for Wynn Resorts

    The operator’s Las Vegas flagship resort is on track to have “the best year ever” for group and convention performance.

    By • Aug. 7, 2024
  • Two empty lounge chairs in front of a pool overlooking a vast hilly region.
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    Courtesy of Mr & Mrs Smith
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    Hyatt posts RevPAR, net rooms growth in Q2

    In the quarter, the company added rooms from its Mr & Mrs Smith acquisition, and another boutique hotel brand deal may be on the horizon.

    By • Aug. 6, 2024
  • The interior at Fauna Restaurant shows wooden chairs, dim light and a tile floor.
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    Courtesy of IHG Hotels & Resorts
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    IHG touts conversion strength, US rebound in Q2

    U.S. RevPAR recovered after a Q1 slump, and the company’s conversion-focused Garner brand has signed more than 80 hotels since being made available to franchisees last year.

    By • Aug. 6, 2024
  • My Place Hotels began franchising in 2014.
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    Courtesy of My Place Hotels
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    Q&A

    My Place Hotels CEO talks evolution of extended stay, breaking the mold

    With a long family history in hospitality, Ryan Rivett shares his outlook on the “desirable” extended stay segment and his strategy for My Place as it celebrates 10 years of franchising.

    By • Aug. 5, 2024
  • An image of the Bellagio Las Vegas, now part of MGM Collection with Marriott Bonvoy.
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    Courtesy of Marriott International
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    Luxury, group travel in Las Vegas drove Q2 gains for MGM

    The resort operator said room rates on the books in Sin City are higher for the third quarter as well, but Formula 1 in Q4 is “off to a soft start.”

    By • Aug. 1, 2024
  • The exterior of a Marriott hotel.
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    JHVEPhoto via Getty Images
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    Group travel, hotel conversions bright spots for Marriott in Q2

    The hotel company saw increased RevPAR as well as portfolio growth in the second quarter of 2024, with both corporate traveler and developer momentum remaining strong.

    By • July 31, 2024
  • An exterior image of a hotel
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    Robert Mora via Getty Images
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    Vegas brings Q2 growth for Caesars, despite ‘terrible’ April start

    The company’s CEO said the first month of the quarter was rough for its regional segment, but heightened ADRs in Las Vegas show promise for a “strong” second half.

    By • July 31, 2024
  • People sitting in hotel lobby
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    EXTREME-PHOTOGRAPHER via Getty Images
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    Q&A

    Accor exec talks new council ‘shaping the future of corporate travel’

    Chief Sales Officer Sophie Hulgard discusses the priorities of Accor’s newly formed Global Leadership Council, including traveler well-being, sustainability and cost optimization.

    By • July 30, 2024
  • New Orleans' Maison Métier and The Barnett will join Hyatt’s Independent Collection of brands.
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    Courtesy of Hyatt
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    Key advantages and challenges of hotel brand acquisition

    As rumors fly that Hyatt is pursuing Standard International, hospitality pros share how the boutique hotel deal could benefit Hyatt, but also pose obstacles.

    By • July 29, 2024
  • The glass exterior of the Anaheim Convention Center features blue signage denoting Wyndham's 2023 Global Conference.
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    Courtesy of Wyndham Hotels & Resorts
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    Wyndham’s pipeline hits record high in Q2, ‘lots of deals’ on horizon

    CEO Geoff Ballotti said hotel owners are “more receptive” to deals, including for the company’s Echo Suites extended stay brand, after Choice ended its acquisition pursuit.

    By • July 25, 2024
  • JRK Property Holdings acquired California’s Hilton La Jolla Torrey Pines.
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    Courtesy of JRK Property Holdings
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    JRK Property Holdings acquires La Jolla Hilton for $165M

    California’s Hilton La Jolla Torrey Pines benefits from strong leisure demand and a growing life sciences sector, per JRK’s head of hotel investment.

    By • July 22, 2024
  • The Standard Hotel in New York City glass door logo.
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    Neilson Barnard via Getty Images
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    Hyatt reportedly in talks to acquire Standard International

    Hyatt is pursuing the global boutique operator for a deal that could boost its global footprint and loyalty program, according to Bloomberg.

    By • July 18, 2024
  • Host Hotels & Resorts acquired 1 Hotel Central Park from Starwood Capital Group.
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    Retrieved from 1 Hotels on July 18, 2024
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    Host Hotels & Resorts acquires 1 Hotel Central Park from Starwood

    A Starwood spokesperson said the Manhattan asset traded for $265 million, a hotel deal that follows others between the buyer and seller in Nashville and Miami Beach, Florida.

    By • July 18, 2024
  • The Phoenix metropolitan area has seen growing hotel occupancy, ADR and RevPAR in recent years driven by strong travel fundamentals.
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    dszc via Getty Images
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    Deep Dive // Hot Markets

    Market Spotlight: Phoenix

    Sports tourism and a flourishing manufacturing sector are driving hotel performance gains as well as investor and developer activity in the metro area.

    By • July 16, 2024
  • The 500-key hotel tower at Bally’s Chicago Casino will sit at the southern end of the development.
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    Courtesy of Bally's Corp.
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    Bally’s changes hotel plans at 30-acre Chicago casino project

    The 500-key tower will move to the southern end of the development and be completed in a single phase.

    By • July 15, 2024
  • The exterior of the Hilton Union Square.
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    Justin Sullivan via Getty Images
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    Downtown San Francisco hotels’ value drops by $1B: Trepp

    In the latest blow to the city’s hotel market, Moody’s Ratings downgraded bond classes for the properties that Park Hotels & Resorts ceased payments on last year.

    By • July 3, 2024