Corporate/Finance: Page 8
-
Vegas brings Q2 growth for Caesars, despite ‘terrible’ April start
The company’s CEO said the first month of the quarter was rough for its regional segment, but heightened ADRs in Las Vegas show promise for a “strong” second half.
By Jenna Graber • July 31, 2024 -
Q&A
Accor exec talks new council ‘shaping the future of corporate travel’
Chief Sales Officer Sophie Hulgard discusses the priorities of Accor’s newly formed Global Leadership Council, including traveler well-being, sustainability and cost optimization.
By Noelle Mateer • July 30, 2024 -
Key advantages and challenges of hotel brand acquisition
As rumors fly that Hyatt is pursuing Standard International, hospitality pros share how the boutique hotel deal could benefit Hyatt, but also pose obstacles.
By Jenna Graber • July 29, 2024 -
Wyndham’s pipeline hits record high in Q2, ‘lots of deals’ on horizon
CEO Geoff Ballotti said hotel owners are “more receptive” to deals, including for the company’s Echo Suites extended stay brand, after Choice ended its acquisition pursuit.
By Jenna Graber • July 25, 2024 -
JRK Property Holdings acquires La Jolla Hilton for $165M
California’s Hilton La Jolla Torrey Pines benefits from strong leisure demand and a growing life sciences sector, per JRK’s head of hotel investment.
By Jenna Graber • July 22, 2024 -
Hyatt reportedly in talks to acquire Standard International
Hyatt is pursuing the global boutique operator for a deal that could boost its global footprint and loyalty program, according to Bloomberg.
By Jenna Graber • July 18, 2024 -
Retrieved from 1 Hotels on July 18, 2024
Host Hotels & Resorts acquires 1 Hotel Central Park from Starwood
A Starwood spokesperson said the Manhattan asset traded for $265 million, a hotel deal that follows others between the buyer and seller in Nashville and Miami Beach, Florida.
By Jenna Graber • July 18, 2024 -
Deep Dive // Hot Markets
Market Spotlight: Phoenix
Sports tourism and a flourishing manufacturing sector are driving hotel performance gains as well as investor and developer activity in the metro area.
By Jenna Graber • July 16, 2024 -
Bally’s changes hotel plans at 30-acre Chicago casino project
The 500-key tower will move to the southern end of the development and be completed in a single phase.
By Jenna Graber • July 15, 2024 -
Downtown San Francisco hotels’ value drops by $1B: Trepp
In the latest blow to the city’s hotel market, Moody’s Ratings downgraded bond classes for the properties that Park Hotels & Resorts ceased payments on last year.
By Noelle Mateer • July 3, 2024 -
Certares, HHM Hotels bet on San Diego with joint hotel acquisition
The Carté Hotel buy aligns with a strategy to invest in “experiential real estate in growing major markets,” according to Nolan Hecht, senior managing director at Certares.
By Jenna Graber • July 3, 2024 -
Former Aimbridge COO implicated in ‘scheme’ to steal trade secrets
In a lawsuit, Aimbridge Hospitality claims Robert Burg and his new company Avion Hospitality solicited “highly confidential” company data that resulted in stolen management contracts and tens of millions of dollars in damages.
By Jenna Graber • June 26, 2024 -
Park Hotels & Resorts closes third Bay Area hotel
Hilton Oakland Airport will close in August, a year after the REIT exited two other hotels in downtown San Francisco.
By Noelle Mateer • June 26, 2024 -
Top hospitality C-suite appointments of Q2 2024
CEO, CFO, COO, oh my! In Q2, companies including Wyndham, Loews and Aimbridge made leadership changes set to impact operations.
By Jenna Graber • June 25, 2024 -
EOS Hospitality acquires luxury Brooklyn hotel in $177M bankruptcy sale
The full-service hospitality company will manage The William Vale Hotel, which marks the first New York City property in its portfolio.
By Jenna Graber • June 20, 2024 -
Hotel Equities names Aik Hong Tan chief investment officer
The appointment comes less than a month after the hotel management company made other C-suite and executive leadership changes.
By Jenna Graber • June 13, 2024 -
Canary Technologies raises $50M to accelerate AI hotel solutions
The Series C funding will go toward helping hoteliers modernize their tech stacks and improve the guest experience as “enthusiasm” for AI grows, according to company President SJ Sawhney.
By Jenna Graber • June 13, 2024 -
LuxUrban Hotels names new CEO
Robert Arigo will take over the beleaguered company, which has “much work to do” following legal troubles.
By Noelle Mateer • June 12, 2024 -
Retrieved from Wyndham Hotels & Resorts on August 04, 2023
LuxUrban Hotels continues leadership shakeups amid lawsuit woes
Michael James will take over as CFO and Alexander Lombardo will join the board of directors as the beleaguered hospitality company works to overcome setbacks.
By Noelle Mateer • June 7, 2024 -
Aimbridge Hospitality names William Davenport CFO
The finance executive previously served as CFO at restaurant chain Velvet Taco and sports entertainment company Topgolf.
By Noelle Mateer • June 5, 2024 -
STR, Tourism Economics ‘significantly’ downgrade US hotel forecast for 2024-25
Higher cost of living is reducing lower-to-middle-income households’ ability to travel, and increased operating expenses are impacting hotel profit margins, according to the latest forecast.
By Noelle Mateer • June 4, 2024 -
More hoteliers will sell than refinance as loan maturity nears: JLL
High interest rates, rising insurance costs and other financial challenges will push hotel owners to consider transacting to repay debt that’s coming due by the end of 2024.
By Jenna Graber • June 3, 2024 -
REIT bets on Phoenix with $43M Hilton extended stay buy
Chatham Lodging Trust acquired the downtown Home2 Suites hotel hoping to capitalize on strong demand from multiple traveler segments.
By Jenna Graber • June 3, 2024 -
Stonebridge names Rob Smith president and CEO
The hotel industry veteran jumps ship from management company Aimbridge Hospitality to assume the leadership position.
By Jenna Graber • May 31, 2024 -
Host Hotels buys Hawaii’s Turtle Bay Resort for $725M
The 450-room resort will be rebranded under Marriott's Ritz-Carlton flag amid high travel demand on Oahu.
By Noelle Mateer • May 30, 2024