Corporate/Finance: Page 5

  • A headshot of Frank Santos surrounded by greenery.
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    Courtesy of Rosen Hotels & Resorts
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    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 • Dec. 5, 2024
  • UnitedHealth Group office
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    Courtesy of UnitedHealth Group
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    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
  • Marriott's Design Hotels opened The Granger Hotel Gaslamp Quarter in San Diego, California.
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    Courtesy of Marriott International
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    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 • Dec. 2, 2024
  • An aerial view of people on yellow couches in a lobby.
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    Courtesy of Hilton
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    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 • Nov. 26, 2024
  • A skyline of New York City
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    TomasSereda via Getty Images
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    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 • Nov. 26, 2024
  • The interior of a hotel room at Rio Hotel & Casino Las Vegas.
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    Courtesy of Hyatt
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    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 • Nov. 22, 2024
  • The exterior of the Springhill Suites Fairfax Fair Oaks.
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    Courtesy of Marriott International
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    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 • Nov. 22, 2024
  • Skyscrapers in New York City.
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    GreatJobKid via Getty Images
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    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 • Nov. 21, 2024
  • Pink and purple flowers hang from the ceiling in a hotel lobby.
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    Courtesy of Cris Molina for IHG Hotels & Resorts
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    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 • Nov. 21, 2024
  • Love's
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    Retrieved from Love's.
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    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
  • Mandarin Oriental appointed Tiffany Cooper as head of development for the Americas region.
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    Courtesy of Mandarin Oriental
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    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 • Nov. 18, 2024
  • The logo of a Marriott hotel
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    Brandon Bell/Getty Images via Getty Images
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    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 • Nov. 15, 2024
  • Luxury hotel brand Viceroy is undergoing a comprehensive rebranding across its portfolio, which includes Viceroy Chicago.
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    Courtesy of Viceroy
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    Viceroy rebrand focuses on storytelling through experiences

    The luxury hospitality brand is revamping its experiential offerings and growing its portfolio to new destinations.

    By • Nov. 14, 2024
  • Design Hotels opened The Warren Street Hotel in New York City as part of a larger global portfolio expansion.
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    Courtesy of Design Hotels
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    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 • Nov. 13, 2024
  • An interior of the Boston Logan International Airport in Boston, Massachusetts on September 2022.
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    stellalevi via Getty Images
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    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 • Nov. 12, 2024
  • The exterior of the Hyatt Regency Orlando.
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    Courtesy of JLL
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    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 • Nov. 8, 2024
  • People sitting in hotel lobby
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    EXTREME-PHOTOGRAPHER via Getty Images
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    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 • Nov. 6, 2024
  • An aerial view of people on yellow couches in a lobby.
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    Courtesy of Hilton
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    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 • Nov. 6, 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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    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 • Nov. 6, 2024
  • An exterior image of a hotel
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    Ethan Miller via Getty Images
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    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 • Nov. 5, 2024
  • The exterior of a Marriott hotel.
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    JHVEPhoto via Getty Images
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    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 • Nov. 4, 2024
  • Choice Hotels International headquarters at the Pike & Rose development in North Bethesda, Maryland.
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    Courtesy of Choice Hotels International
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    Choice Hotels pipeline reaches record high in Q3

    The company’s system size also grew year over year in the quarter, driven by conversions and upscale openings for its Radisson Americas portfolio.

    By • Nov. 4, 2024
  • Hospitality leaders shared the top trends driving growth across the industry at this year's Lodging Conference in Phoenix.
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    Jenna Walters/Hotel Dive
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    Top hospitality industry takeaways from 2024’s Lodging Conference

    At the annual event in Phoenix, hotel industry leaders shared the opportunities and challenges facing the sector and forecasted what will drive hospitality growth in 2025.

    By • Oct. 31, 2024
  • The exterior of the Hyatt Regency Orlando.
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    Courtesy of JLL
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    Hyatt’s asset dispositions drive growth in Q3

    The company also added 22 lifestyle hotels through its acquisition of Standard International, a deal that aligns with Hyatt’s asset-light strategy.

    By • Oct. 31, 2024
  • A headshot of Rosanna Maietta.
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    Retrieved from American Hotel & Lodging Association on October 31, 2024
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    AHLA names Rosanna Maietta president and CEO

    The public affairs and communications executive, who takes over for Interim President and CEO Kevin Carey, previously helmed the AHLA Foundation.

    By • Oct. 31, 2024