Corporate/Finance: Page 6
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Sports tourism big opportunity for Las Vegas growth: MGM CEO
In the third quarter of 2024, MGM Resorts saw a revenue boost and record ADRs in the Vegas market, which Bill Hornbuckle calls a “major player in the sporting world.”
By Jenna Graber • Oct. 31, 2024 -
travelview via Getty Images
Despite Q3 declines, Caesars optimistic about Las Vegas group business
The operator also expects its recently opened $435 million New Orleans resort to drive results for its regional segment, according to CEO Tom Reeg.
By Jenna Graber • Oct. 30, 2024 -
Courtesy of Reuben Brothers
W South Beach sells for $400M
Reuben Brothers’ acquisition of the Miami property from sellers Tricap and RFR comes amid heightened investor appetite for luxury hotels in urban markets.
By Jenna Graber • Oct. 29, 2024 -
Spencer Platt via Getty Images
‘Victory’ or ‘disappointment’? Hospitality industry reacts to Safe Hotels Act passage
Some hospitality professionals believe the NYC licensing bill will benefit the city’s hotels, while others say it will cause “irreparable harm” to workers’ livelihoods and the local economy.
By Jenna Graber • Updated Nov. 5, 2024 -
Courtesy of Wyndham Hotels & Resorts
Pipeline generation a high point for Wyndham in Q3 2024
In the U.S., the hotel company awarded 10% more franchise contracts in the third quarter compared to the prior-year period, with extended stay demand leading the way.
By Jenna Graber • Oct. 24, 2024 -
Courtesy of Hilton
Labor disputes contribute to Hilton’s slower-than-expected RevPAR growth in Q3
The company also opened a record 531 hotels in the quarter, most of which were conversions.
By Noelle Mateer • Oct. 23, 2024 -
Courtesy of Choice Hotels International
Q&AWhat’s the future of extended stay? Choice Hotels leader weighs in
As Choice opens its 500th extended stay property, VP Matt McElhare shares what markets and segments are poised for future growth and how leveraging technology will set brands apart.
By Jenna Graber • Oct. 23, 2024 -
KenWiedemann via Getty Images
US hotel market sees stability, normalization: IHG CFO
IHG Hotels & Resorts, which posted overall RevPAR and system growth in Q3, said its properties in the Southeastern U.S. stand to benefit from post-hurricane demand.
By Noelle Mateer • Oct. 22, 2024 -
Courtesy of Marriott International
Marriott to convert MGM’s Delano Las Vegas under W Hotels
The conversion is part of a long-term strategic licensing partnership between the companies and furthers Marriott’s push in luxury.
By Jenna Graber • Oct. 22, 2024 -
Drew Angerer via Getty Images
Walker & Dunlop expands real estate services to hospitality market
The multifamily investment sales and financing leader enters hospitality as the sector shows resilience post-pandemic, particularly in urban areas.
By Jenna Graber • Oct. 18, 2024 -
Ziga Plahutar via Getty Images
Sonesta to add 114 hotels to franchise portfolio
The hotels will convert from existing long-term management agreements to long-term franchise agreements after owner Service Properties Trust sells them in 2025 to repay debt.
By Jenna Graber • Oct. 18, 2024 -
Courtesy of Hapi
Former Knowland CEO Jeff Bzdawka joins Hapi as president
The 30-year industry veteran takes the hospitality data leadership role following Knowland’s acquisition by Cendyn earlier this month.
By Jenna Graber • Oct. 17, 2024 -
Sean Davis via Getty Images
Hotel deals led Peachtree Group’s $1B loan originations year to date
The firm’s hotel credit transactions are up 176% year over year, signaling an easing in the lending market that could spur investment and development activity for the sector.
By Jenna Graber • Oct. 16, 2024 -
Jenna Walters/Hotel Dive
View from the top: Hospitality CEOs give their industry outlooks
Hospitality industry leaders from AAHOA, Extended Stay America, Peachtree Group and JLL are optimistic, despite possible regulatory hurdles.
By Jenna Graber • Oct. 9, 2024 -
Somkid Thongdee via Getty Images
Top hospitality executive appointments of Q3 2024
C-suite and executive appointees will set hospitality companies’ strategies for hotel marketing, development, investment, sales, technology and more.
By Noelle Mateer • Oct. 7, 2024 -
Courtesy of BWH Hotels
BWH Hotels names former retail industry exec chief technology officer
Reporting to CEO Larry Cuculic, Bill Ryan will oversee the hospitality company’s technology management team, guiding its digital strategy and transformation.
By Jenna Graber • Oct. 2, 2024 -
andreswd via Getty Images
Top hospitality conferences to attend in 2025
Learn more about the future of the hospitality industry — from hotel marketing strategies to construction financing to staffing solutions — at these can't-miss events for hotel leaders.
By Noelle Mateer • Updated Jan. 29, 2025 -
AscentXmedia via Getty Images
Western US mountain properties see stronger fall and winter bookings: DestiMetrics
Properties across Colorado, Utah, California, Nevada, Wyoming, Montana and Idaho reported a stable summer, a trend expected to lead into a prosperous end of year.
By Michele Laufik • Sept. 26, 2024 -
Joe Raedle via Getty Images
What’s next for OYO and G6 Hospitality?
The Indian hospitality company bet big on U.S. budget hotels with its $525 million Motel 6 buy. Experts say it could be a new chapter for the tech provider.
By Noelle Mateer • Sept. 25, 2024 -
TomasSereda via Getty Images
Rate cut to trigger slow rise in real estate investment ‘tide’
Richard Barkham, CBRE’s global chief economist, is expecting “a meaningful uptick” in commercial real estate deals rather than an “explosion.”
By Maura Webber Sadovi • Sept. 23, 2024 -
Joe Raedle via Getty Images
OYO to purchase Motel 6 brand for $525M
The India-based hospitality tech company expands its U.S. presence by acquiring G6 Hospitality from Blackstone.
By Noelle Mateer • Sept. 23, 2024 -
Courtesy of JLL
JLL Americas Hotels & Hospitality Group names Dan Peek president
Peek, who joins JLL from Hodges Ward Elliott, will be tasked with leading strategic growth efforts nationwide.
By Noelle Mateer • Sept. 18, 2024 -
Courtesy of Gencom
Gencom enters NYC with Thompson Central Park Hotel acquisition
With the reported $300 million buy, the firm strengthens its relationship with Hyatt and positions itself in “one of the world’s top hospitality markets.”
By Jenna Graber • Sept. 18, 2024 -
Courtesy of Omni Hotels & Resorts
Omni Hotels & Resorts names sales leader
Thirty-year hospitality industry veteran Annette Bales will assume the role of vice president of sales.
By Noelle Mateer • Sept. 17, 2024 -
Gregory Clifford via Getty Images
LivAway Suites developer opens office in ‘growth’ market Phoenix
West77 Partners has several extended stay hotels underway in the metro area and is plotting up to 12 more as part of a rapid nationwide brand expansion.
By Jenna Graber • Sept. 11, 2024
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