Corporate/Finance: Page 7

  • The Venetian Resort will undergo a $1.5 billion renovation.
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    Courtesy of The Venetian Resort
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    Hyatt bets on Las Vegas with Venetian loyalty tie-up

    The pair entered a long-term licensing deal that will bring the luxury Strip resort under Hyatt’s booking channels, following a similar Vegas deal between Marriott and MGM Resorts.

    By • Dec. 19, 2024
  • Walter “J.R.” Dembiec Jr. headshot
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    Courtesy of Reside
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    Reside appoints leader for Wyndham brand collab

    Walter “J.R.” Dembiec Jr. will head Reside, a Wyndham Residence, focusing on the upscale brand’s growth to premier U.S. urban destinations.

    By • Dec. 17, 2024
  • Two businesses executives shake hands in office
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    opolja via Getty Images
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    The top 12 hotel industry CEO appointments of 2024

    Aimbridge Hospitality, the American Hotel & Lodging Association and Auberge Resorts are among the hospitality companies that tapped new leaders this year.

    By • Dec. 16, 2024
  • Canada-based Leyad acquired Ink48 Hotel in New York City.
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    Courtesy of Leyad
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    Canada firm forays into ‘growing’ NYC market with $62M hotel buy

    In a joint venture with Capstone Equities, Leyad acquired Ink48 Hotel as the firm looks to expand in “prime urban markets,” per CEO Henry Zavriyev.

    By • Dec. 13, 2024
  • A Postcard Cabins tiny cabin sits on a lake.
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    Courtesy of Marriott International
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    Marriott plots outdoor-centric collection anchored by new brand deals

    The hotel company acquired Postcard Cabins and signed a long-term agreement with Trailborn, following Hilton and Hyatt expanding in outdoor accommodations.

    By • Dec. 12, 2024
  • The exterior of the Hyatt Regency Chicago O'Hare.
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    Courtesy of MCR
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    MCR buys Hyatt Regency O’Hare for undisclosed sum

    The sale is part of Hyatt’s ongoing strategy to sell owned properties and reinvest the proceeds in asset-light platforms that accelerate growth.

    By • Dec. 12, 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 chief commercial officer to exit

    Robert McDowell will depart the hotel company in January, according to a filing with the U.S. Securities and Exchange Commission.

    By • Dec. 10, 2024
  • Stock image of hotel room
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    onurdongel via Getty Images
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    10 notable hospitality executive interviews from 2024

    Throughout the year, experts from IHG, Hyatt, Accor and more talked development, sustainability and travel trends, sharing what drove hotel industry growth throughout the year.

    By • Dec. 10, 2024
  • Travelers stand in line for a TSA checkpoint at the Miami International Airport on December 19, 2022 in Miami, Florida.
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    Joe Raedle via Getty Images
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    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 • Dec. 10, 2024
  • The exterior of Resorts World Las Vegas along the Las Vegas Strip.
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    Courtesy of Resorts World Las Vegas
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    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 • Dec. 6, 2024
  • Exterior of MGM Grand Hotel & Casino in Las Vegas
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    Ethan Miller via Getty Images
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    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 • Dec. 5, 2024
  • The financial district in Boston, seen against the Boston Harbor at sunrise showcasing a mix of contemporary and historic buildings.
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    Marcio Silva via Getty Images
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    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 • Dec. 5, 2024
  • 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