Airbnb emphasizes affordability over hotels in Q1 earnings report

“Hopefully, our rates do not increase as fast as hotels over the next couple of years,” Airbnb co-founder and CEO Brian Chesky said in an earnings call with analysts.

By Michele Laufik • May 11, 2023

Bally’s proposes IPO to give Chicago residents 25% stake in $1.7B casino and resort project

The ownership interests would be restricted to select Chicago residents, a nearly unprecedented structure in the U.S., one expert says.

By Jenna Graber • May 10, 2023

Choice Hotels credits remote work for record first-quarter earnings

A rise in leisure travel demand and extended weekend stays contributed to the brand’s first-quarter revenue, which was up 29% over the same period last year.

By Michele Laufik • May 10, 2023

REIT earnings show strong group and business travel demand

Real estate investment trusts such as Summit Hotels and Host Hotels credit growth in the group business segment for strong first-quarter results.

By Michele Laufik • May 9, 2023

Expedia Group lodging bookings hit record $21.1B

The company attributed increased hotel bookings in the first quarter of 2023 to an acceleration of travel to big cities.

By Jenna Graber • May 8, 2023

Hyatt posts fourth consecutive ‘record’ quarter

In the first quarter of 2023, the hotel brand generated a record $231 million in total management, franchise, license and other fees due to increasing travel demand.

By Jenna Graber • May 5, 2023

Marriott builds on Q1 portfolio growth, forays into midscale segment

The hotel brand acquired the City Express portfolio at the start of the second quarter after seeing rising demand for the midscale segment earlier this year.

By Jenna Graber • May 3, 2023

MGM Resorts posts record Q1 growth in Las Vegas

The hospitality company’s Las Vegas Strip resorts saw all-time high EBITDAR for the quarter thanks to an influx of events in the area.

By Michele Laufik • May 3, 2023

Hyatt to acquire luxury hotel platform Mr & Mrs Smith

The $66 million deal will expand Hyatt’s position in the luxury market and open up distribution and loyalty opportunities.

By Michele Laufik • April 28, 2023

Pebblebrook Hotel Trust Q1 earnings show rise in urban hotel occupancy

The real estate investment trust saw an uptick in travelers staying at hotels in San Francisco and Washington, D.C., two markets seeing improved business transient demand.

By Jenna Graber • April 28, 2023

Hilton, Wyndham Q1 earnings show strong leisure travel demand

Despite some economic uncertainty, both hotel brands point to healthy leisure travel demand and spending among consumers.

By Michele Laufik • April 28, 2023

Google ad revenue slides again as platform’s dominance is challenged

Search saw a slight uptick in revenue thanks to healthy demand from the travel and retail verticals.

By Peter Adams • April 27, 2023

OYO sees 48% jump in U.S. Q4 revenue from direct platform bookings

The hospitality company attributed the growth to operational efficiencies, performance management and a better incentive structure.

By Michele Laufik • April 27, 2023

Highgate names Matt Greene EVP of luxury residences

The hospitality management company has also appointed Elizabeth Redmond to chief accounting officer.

By Jill Menze • April 18, 2023

Mohari Hospitality to acquire Tao Group for $550M

The deal, expected to close in May, also includes an agreement by Madison Square Garden Entertainment to sell its majority stake in Tao.

By Michele Laufik • April 18, 2023

Ennismore, Cain partner to grow Delano brand

The partnership will refurbish the landmark Delano South Beach and expand the brand to new global markets.

By Jenna Graber • April 14, 2023

US hotel GOPPAR exceeds pre-pandemic levels

Hospitality analytics firm STR’s February data shows the industry is steadily recovering, with meetings driving revenue.

By Michele Laufik • April 10, 2023

5 trends shaping hotel strategies in 2023

As hotels return to levels of business not seen since 2019, they are finding a new world of hospitality with rapid developments in technology, sustainability, business travel and more.

By Mike Dunphy • April 3, 2023

Reeco raises $10M to help hotels fight supply chain woes

The AI-powered marketplace connects hospitality buyers and suppliers — providing a new, cost-effective way to order and receive products.

By Jenna Graber • March 29, 2023

Hotel startups, investors evaluate standing following SVB collapse

The collapse of Silicon Valley Bank may not have a huge impact on the hotel industry, but existing investor activity could pose a challenge for startups in the sector. 

By Jenna Graber • March 27, 2023

Raines plots expansion with acquisition of HP Hotels

The deal, announced in March, not only expands Raines’ geographic footprint but also boosts the hospitality company’s property management capabilities.  

By Mike Dunphy • March 20, 2023

Bank failures cause uncertainty for contractors

The collapses of Silicon Valley Bank and Signature Bank could weaken this year’s outlook for commercial real estate and construction, an economist said.

By Sebastian Obando • March 16, 2023

NYC office, hotel sectors show signs of life

“New York is back,” but in a way that differs from its pre-pandemic level, a presenter at this week’s New York Build conference said.

By Sebastian Obando • March 10, 2023

Marriott names head of IT with background in sales, revenue

The hospitality giant promoted Drew Pinto to EVP and chief revenue and technology officer, as part of a broader leadership reorganization.

By Lindsey Wilkinson • Feb. 27, 2023

Las Vegas Sands plans $4B casino development in Long Island, NY

The sprawling hospitality and entertainment project, which still needs approval, would include a variety of amenities.

By Sebastian Obando • Jan. 18, 2023