Corporate/Finance
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Joe Raedle via Getty Images
Hotel bookings up this Christmas, buoyed by international travel
Travelers’ length of stay at U.S. hotels and booking lead time for Christmas week have also increased, according to new findings from SiteMinder.
By Jenna Walters • Dec. 10, 2024 -
Courtesy of Resorts World Las Vegas
Resorts World Las Vegas names CEO, forms board of directors
The operator tapped Alex Dixon as CEO and other industry veterans for the board to “strengthen its leadership” amid financial and legal troubles.
By Jenna Walters • Dec. 6, 2024 -
Ethan Miller via Getty Images
MGM Resorts names chief content, hospitality and development officer
The resort operator promoted Ari Kastrati to the role, in which he will oversee global design and development and sports and entertainment partnerships.
By Jenna Walters • Dec. 5, 2024 -
Marcio Silva via Getty Images
Ashford Hospitality Trust to offload Boston hotel for $123M
The sale of Courtyard Boston Downtown, to an undisclosed buyer, follows others in the market as the real estate investment trust pays off debt.
By Jenna Walters • Dec. 5, 2024 -
Courtesy of Rosen Hotels & Resorts
Frank Santos to lead Rosen Hotels & Resorts as CEO
The industry veteran takes over for founder and philanthropist Harris Rosen, who died last week.
By Noelle Mateer • Dec. 5, 2024 -
Courtesy of UnitedHealth Group
UnitedHealthcare CEO Brian Thompson fatally shot outside NYC Hilton
The NYPD confirmed the shooting, which cut UnitedHealth’s investor conference short on Wednesday morning, though not Thompson’s identity.
By Rebecca Pifer • Dec. 4, 2024 -
Courtesy of Marriott International
Marriott’s Design Hotels opens San Diego property amid US expansion
The Granger Hotel Gaslamp Quarter is the first Design Hotels property in the California city, offering two dining concepts and curated artwork and furniture.
By Jenna Walters • Dec. 2, 2024 -
Courtesy of Hilton
Higher-end chain scales a bright spot amid muted 2025 hotel growth: PwC
ADR gains driven by the strength of upper-tier segments offer “a redeeming trend” for the industry, which will see muted demand growth next year.
By Jenna Walters • Nov. 26, 2024 -
TomasSereda via Getty Images
Global hotel transaction volume reaches $42B in Q3: JLL
Strong group travel demand, impending debt maturity and other factors will catalyze hotel investment for the remainder of the year and beyond.
By Jenna Walters • Nov. 26, 2024 -
Courtesy of Hyatt
Las Vegas’ Rio Hotel & Casino joins Destination by Hyatt
Following the first phase of a $340 million renovation, the luxury resort — in a “vibrant” location for leisure, convention and group travel — has transitioned under Hyatt’s Independent Collection.
By Jenna Walters • Nov. 22, 2024 -
Courtesy of Marriott International
Driftwood Hospitality Management appoints execs to specialized leadership roles
The hotel management company appointed a chief operating officer, a chief strategy officer and a vice president of operations following the creation of specialized divisions.
By Noelle Mateer • Nov. 22, 2024 -
GreatJobKid via Getty Images
LuxUrban to get $7M capital infusion following year of legal, financial troubles
The company plans to form a joint venture with Lockwood Development Partners and Bright Hospitality Management that will bring investment and property enhancements to two of its New York City properties.
By Noelle Mateer • Nov. 21, 2024 -
Courtesy of Cris Molina for IHG Hotels & Resorts
STR, Tourism Economics downgrade 2024 RevPAR growth outlook
Based on current economic conditions, upper-tier hotels will continue to drive industry performance, but the changing presidential administration could alter 2025 growth patterns.
By Jenna Walters • Nov. 21, 2024 -
Retrieved from Love's.
Travel center operator Love’s to sell its hotels by early 2025
The company determined this summer that it would offload the 19 properties by Q1 of next year to focus more on its convenience stores, restaurants and truck care solutions, a spokesperson said.
By Brett Dworski • Nov. 19, 2024 -
Courtesy of Mandarin Oriental
Mandarin Oriental taps Tiffany Cooper as Americas development head
The former Aimbridge and Kimpton Hotels development leader will drive Mandarin Oriental’s portfolio growth across North America, focusing on the U.S.
By Jenna Walters • Nov. 18, 2024 -
Brandon Bell/Getty Images via Getty Images
Marriott lays off workers amid larger organizational restructuring
Marriott cut 833 employees, which online forum users say “decimated” select departments, amid a companywide process to enhance efficiency.
By Jenna Walters • Updated Nov. 18, 2024 -
Courtesy of Viceroy
Viceroy rebrand focuses on storytelling through experiences
The luxury hospitality brand is revamping its experiential offerings and growing its portfolio to new destinations.
By Jenna Walters • Nov. 14, 2024 -
Courtesy of Design Hotels
Design Hotels grows US presence with portfolio expansion
The Marriott subsidiary signed 29 independent hotel agreements globally over the last 12 months, in markets including New York City and Nashville.
By Jenna Walters • Nov. 13, 2024 -
stellalevi via Getty Images
US hotels saw ‘weaker than expected’ Q3 amid slow inbound travel recovery
RevPAR was down in the third quarter, due in part to soft leisure travel and a slow return of international visitors, according to CBRE.
By Jenna Walters • Nov. 12, 2024 -
Courtesy of JLL
Budget-friendly hotels hardest hit as RevPAR growth slows in Q3: JLL
Declines in domestic leisure travel and shrinking consumer savings are causing stagnating RevPAR growth in the U.S., affecting hotel chain scales differently.
By Noelle Mateer • Nov. 8, 2024 -
EXTREME-PHOTOGRAPHER via Getty Images
Top travel, development trends that drove hotel companies’ Q3 results
In the third quarter of 2024, companies posted RevPAR increases driven by group business and pipeline growth bolstered by demand for conversions.
By Jenna Walters • Nov. 6, 2024 -
Courtesy of Hilton
PM Hotel Group, Sightline Hospitality merge
The strategic merger adds 22 open or soon-to-open properties to PM’s portfolio and deepens the company’s lifestyle and experiential travel offerings.
By Noelle Mateer • Nov. 6, 2024 -
Scott Olson via Getty Images
Hotel CEOs predict impact of election cycle on Q4 financials
During recent earnings calls, leaders from Marriott, Hilton, Hyatt, Choice Hotels and Wyndham shared how this year's “not typical” Harris vs. Trump election season could impact Q4 revenues.
By Jenna Walters • Nov. 6, 2024 -
Ethan Miller via Getty Images
Wynn’s Las Vegas operating revenues down, despite ‘healthy’ luxury demand
Demand from high-end consumers in Las Vegas drove solid non-gaming performance in the third quarter, which had “very tough year-over-year comps,” per CEO Craig Billings.
By Jenna Walters • Nov. 5, 2024 -
JHVEPhoto via Getty Images
Business, group travel boost Marriott’s US RevPAR growth
CEO Anthony Capuano said big corporate spenders are back and the appetite for group meetings is “really encouraging.”
By Noelle Mateer • Nov. 4, 2024
