Corporate/Finance: Page 9

  • Hotel Equities promoted Eric McCarthy-Zink CFO
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    Courtesy of Hotel Equities
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    Hotel Equities names Eric McCarthy-Zink CFO

    The hospitality industry veteran will work to “streamline processes to enhance efficiency and drive performance” for the hotel owner, operator and developer.

    By • May 24, 2024
  • Stock image of hotel room
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    onurdongel via Getty Images
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    Hotels to see ‘marginal’ performance gains despite economic woes: PwC

    Hotel occupancy, ADR and RevPAR will rise this year and into 2025 even as “economic uncertainty and geopolitical tensions” continue, the professional services company forecasts.

    By • May 23, 2024
  • Henderson Park acquired Arizona Biltmore from Blackstone for $705 million.
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    Retrieved from Arizona Biltmore on May 21, 2024
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    Henderson Park acquires Arizona Biltmore for $705M

    With the buy, the global private equity firm gains a foothold in Phoenix, which CEO Nick Weber calls “one of the country’s premier hospitality markets.”

    By • May 21, 2024
  • A headshot of Amit Sripathi.
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    Courtesy of Wyndham Hotels & Resorts
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    Wyndham names Amit Sripathi chief development officer

    Sripathi succeeds Chip Ohlsson, who will leave Wyndham in June after more than 30 years with the company.

    By • May 17, 2024
  • The exterior logo sign at the Rio Hotel & Casino in Las Vegas.
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    Ethan Miller via Getty Images
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    Rio Hotel & Casino names Patrick Miller CEO amid $340M transformation

    The former MGM Resorts exec will head the Las Vegas property as it prepares to join the Destination by Hyatt brand this fall.

    By • May 15, 2024
  • A headshot of Eric Jacobs.
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    Courtesy of Aimbridge Hospitality
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    Aimbridge taps longtime Marriott exec as chief global growth officer

    Eric Jacobs will succeed Allison Reid as the hospitality management company continues leadership shakeups.

    By • May 14, 2024
  • Hotel front for Hyatt in Palm Springs
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    Courtesy of Hyatt
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    Hyatt sees ‘normalized’ US RevPAR growth, record pipeline in Q1

    The company is also making progress on its goal to permanently reduce owned real estate, CEO Mark Hoplamazian said.

    By • May 9, 2024
  • Exterior of Choice Hotels International, Rockville Corporate Headquarters
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    Courtesy of Choice Hotels
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    Conversions, extended stay drove Choice Hotels pipeline growth in Q1

    The hotel company’s record domestic rooms pipeline grew 11% sequentially in the first quarter of 2024, including a 59% increase for conversion rooms.

    By • May 8, 2024
  • An exterior image of a hotel
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    Ethan Miller via Getty Images
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    Wynn CEO credits Super Bowl for Q1 growth, remains ‘bullish’ on Vegas

    Entertainment drivers like the Sphere are bringing leisure travelers to the market, while group demand at Wynn Las Vegas is pacing to have its “best year ever.”

    By • May 8, 2024
  • The outside of the Garner Auburn – Seattle on a sunny day.
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    Courtesy of IHG Hotels & Resorts
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    IHG’s Americas RevPAR slumps in first quarter

    CEO Elie Maalouf said the market has already recovered from the pandemic, blaming “adverse calendar timing” for room profitability in the quarter.

    By • May 3, 2024
  • An image of the Bellagio Las Vegas, now part of MGM Collection with Marriott Bonvoy.
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    Courtesy of Marriott International
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    MGM CEO: Marriott loyalty partnership ‘exceeds expectations’

    MGM said it expects the relationship to be a growth driver in 2024 as the company reports a “record” first quarter, which also benefited from luxury strength in Las Vegas.

    By • May 2, 2024
  • The exterior of a Marriott hotel.
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    JHVEPhoto via Getty Images
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    International markets buoy Marriott Q1 as US RevPAR growth slows

    Group and large corporate travel boosted RevPAR in the U.S. and Canada as leisure travel normalized in the region.

    By • May 1, 2024
  • An aerial view of the Las Vegas Strip at night
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    f11photo via Getty Images
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    Vegas segment a bright spot in tough Q1 for Caesars Entertainment

    The gaming and resort company took a “butt-kicking” in the quarter, according to CEO Tom Reeg, but occupancy in Las Vegas hit an all-time high for Q1.

    By • May 1, 2024
  • A bedroom at WaterWalk.
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    Courtesy of Wyndham Hotels & Resorts
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    Failed Choice Hotels deal drives developer interest for Wyndham in Q1

    Wyndham grew its development pipeline to record highs in the quarter, bolstered by an easing of developer uncertainty surrounding Choice Hotels’ takeover bid.

    By • April 25, 2024
  • The exterior of Conrad Orlando as seen from across a lagoon.
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    Courtesy of Hilton
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    Record pipeline, group travel drive Hilton growth in Q1

    The company made several moves to further bolster its pipeline in the quarter, particularly through acquisitions and partnerships in the growing lifestyle segment.

    By • April 24, 2024
  • Red Roof appointed Zack Gharib as president.
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    Courtesy of Red Roof
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    Red Roof names Zack Gharib president

    Gharib replaces George Limbert, who stepped down last year, and is tasked with leading the company’s strategic portfolio growth.

    By • April 23, 2024
  • Concord Hospitality appointed Will Loughran as chief operating officer.
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    Retrieved from Concord Hospitality on April 23, 2024
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    Concord Hospitality appoints Will Loughran chief operating officer

    The 30-year industry veteran will take over for Nick Kellock, who is retiring next month.

    By • April 23, 2024
  • Office skyscrapers against bright sun and clear blue sky.
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    ST-art via Getty Images
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    Median sale price of large US hotels declined in Q1: Cornell

    Despite the dip, real estate researchers expect to see a rise in the price of large hotels in the second quarter of 2024.

    By Michele Laufik • April 22, 2024
  • Two executives shaking hands.
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    Sam Edwards via Getty Images
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    Ashford Hospitality’s Stephen Zsigray to take over as CEO

    The company veteran will assume the top job July 1 after Rob Hays steps down.

    By • April 19, 2024
  • A group of people shaking hands
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    Caiaimage/Martin Barraud via Getty Images
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    DiamondRock names Jeffrey Donnelly CEO in C-suite reorg

    The company veteran succeeds Mark Brugger, who departs the real estate investment trust after a 20-year tenure, as the company adopts a “simplified” organizational structure.

    By • April 15, 2024
  • A busy street in Boston's Back Bay neighborhood.
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    benedek via Getty Images
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    Certares acquires Hilton Boston Back Bay hotel for $171M

    The global investment firm said the property’s location “within one of the top submarkets in the country” made it an attractive investment.

    By • April 11, 2024
  • Choice Hotels appointed Judd Wadholm as SVP, general manager of core brands
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    Courtesy of Choice Hotels International
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    Choice Hotels names Judd Wadholm SVP, general manager of core brands

    With the appointment, Choice says it's as “committed as ever” to its lower-tier brands like Comfort and Sleep Inn, despite a recent push in upscale.

    By • April 10, 2024
  • Scott Strickland
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    Courtesy of Wyndham Hotels & Resorts
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    Wyndham appoints CIO Scott Strickland as chief commercial officer

    Heading a newly created commercial organization, the company veteran will focus on Wyndham’s technology strategy and oversee global sales, revenue generation, marketing and loyalty.

    By • April 9, 2024
  • A headshot of Dan Flannery.
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    Courtesy of Loews
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    Loews names Dan Flannery chief operating officer

    Before joining the New York-based hotel owner and operator, Flannery launched the luxury lifestyle brand Edition alongside hotelier Ian Schrager.

    By • April 9, 2024
  • An image of a hotel front desk with staff blurred in background
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    davit85 via Getty Images
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    What the Tax Relief for American Families and Workers Act means for hotels

    The legislation pending Senate approval could incentivize investment in hotel renovations and property upgrades, according to a Cornell University study.

    By • April 5, 2024