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 Jenna Walters • July 18, 2024

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 Jenna Walters • July 16, 2024

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 Jenna Walters • July 15, 2024

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 Noelle Mateer • July 3, 2024

Certares, HHM Hotels bet on San Diego with joint hotel acquisition

The Carté Hotel buy aligns with a strategy to invest in “experiential real estate in growing major markets,” according to Nolan Hecht, senior managing director at Certares.

By Jenna Walters • July 3, 2024

Former Aimbridge COO implicated in ‘scheme’ to steal trade secrets

In a lawsuit, Aimbridge Hospitality claims Robert Burg and his new company Avion Hospitality solicited “highly confidential” company data that resulted in stolen management contracts and tens of millions of dollars in damages.

By Jenna Walters • June 26, 2024

Park Hotels & Resorts closes third Bay Area hotel

Hilton Oakland Airport will close in August, a year after the REIT exited two other hotels in downtown San Francisco.

By Noelle Mateer • June 26, 2024

Top hospitality C-suite appointments of Q2 2024

CEO, CFO, COO, oh my! In Q2, companies including Wyndham, Loews and Aimbridge made leadership changes set to impact operations.

By Jenna Walters • June 25, 2024

EOS Hospitality acquires luxury Brooklyn hotel in $177M bankruptcy sale

The full-service hospitality company will manage The William Vale Hotel, which marks the first New York City property in its portfolio.

By Jenna Walters • June 20, 2024

Hotel Equities names Aik Hong Tan chief investment officer

The appointment comes less than a month after the hotel management company made other C-suite and executive leadership changes.

By Jenna Walters • June 13, 2024

Canary Technologies raises $50M to accelerate AI hotel solutions

The Series C funding will go toward helping hoteliers modernize their tech stacks and improve the guest experience as “enthusiasm” for AI grows, according to company President SJ Sawhney.

By Jenna Walters • June 13, 2024

LuxUrban Hotels names new CEO

Robert Arigo will take over the beleaguered company, which has “much work to do” following legal troubles.

By Noelle Mateer • June 12, 2024

LuxUrban Hotels continues leadership shakeups amid lawsuit woes

Michael James will take over as CFO and Alexander Lombardo will join the board of directors as the beleaguered hospitality company works to overcome setbacks.

By Noelle Mateer • June 7, 2024

Aimbridge Hospitality names William Davenport CFO

The finance executive previously served as CFO at restaurant chain Velvet Taco and sports entertainment company Topgolf.

By Noelle Mateer • June 5, 2024

STR, Tourism Economics ‘significantly’ downgrade US hotel forecast for 2024-25

Higher cost of living is reducing lower-to-middle-income households’ ability to travel, and increased operating expenses are impacting hotel profit margins, according to the latest forecast.

By Noelle Mateer • June 4, 2024

More hoteliers will sell than refinance as loan maturity nears: JLL

High interest rates, rising insurance costs and other financial challenges will push hotel owners to consider transacting to repay debt that’s coming due by the end of 2024.

By Jenna Walters • June 3, 2024

REIT bets on Phoenix with $43M Hilton extended stay buy

Chatham Lodging Trust acquired the downtown Home2 Suites hotel hoping to capitalize on strong demand from multiple traveler segments.

By Jenna Walters • June 3, 2024

Stonebridge names Rob Smith president and CEO

The hotel industry veteran jumps ship from management company Aimbridge Hospitality to assume the leadership position.

By Jenna Walters • May 31, 2024

Host Hotels buys Hawaii’s Turtle Bay Resort for $725M

The 450-room resort will be rebranded under Marriott's Ritz-Carlton flag amid high travel demand on Oahu.

By Noelle Mateer • May 30, 2024

Hotel Equities names Eric McCarthy-Zink CFO

The hospitality industry veteran will work to “streamline processes to enhance efficiency and drive performance” for the hotel owner, operator and developer.

By Jenna Walters • May 24, 2024

Hotels to see ‘marginal’ performance gains despite economic woes: PwC

Hotel occupancy, ADR and RevPAR will rise this year and into 2025 even as “economic uncertainty and geopolitical tensions” continue, the professional services company forecasts.

By Jenna Walters • May 23, 2024

Henderson Park acquires Arizona Biltmore for $705M

With the buy, the global private equity firm gains a foothold in Phoenix, which CEO Nick Weber calls “one of the country’s premier hospitality markets.”

By Jenna Walters • May 21, 2024

Wyndham names Amit Sripathi chief development officer

Sripathi succeeds Chip Ohlsson, who will leave Wyndham in June after more than 30 years with the company.

By Noelle Mateer • May 17, 2024

Rio Hotel & Casino names Patrick Miller CEO amid $340M transformation

The former MGM Resorts exec will head the Las Vegas property as it prepares to join the Destination by Hyatt brand this fall.

By Jenna Walters • May 15, 2024

Aimbridge taps longtime Marriott exec as chief global growth officer

Eric Jacobs will succeed Allison Reid as the hospitality management company continues leadership shakeups.

By Noelle Mateer • May 14, 2024