Corporate/Finance: Page 9

  • An exterior image of a hotel
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    Ethan Miller via Getty Images
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    ‘Healthy’ Vegas group demand drives strong Q2 for Wynn Resorts

    The operator’s Las Vegas flagship resort is on track to have “the best year ever” for group and convention performance.

    By • Aug. 7, 2024
  • Two empty lounge chairs in front of a pool overlooking a vast hilly region.
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    Courtesy of Mr & Mrs Smith
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    Hyatt posts RevPAR, net rooms growth in Q2

    In the quarter, the company added rooms from its Mr & Mrs Smith acquisition, and another boutique hotel brand deal may be on the horizon.

    By • Aug. 6, 2024
  • The interior at Fauna Restaurant shows wooden chairs, dim light and a tile floor.
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    Courtesy of IHG Hotels & Resorts
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    IHG touts conversion strength, US rebound in Q2

    U.S. RevPAR recovered after a Q1 slump, and the company’s conversion-focused Garner brand has signed more than 80 hotels since being made available to franchisees last year.

    By • Aug. 6, 2024
  • My Place Hotels began franchising in 2014.
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    Courtesy of My Place Hotels
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    Q&A

    My Place Hotels CEO talks evolution of extended stay, breaking the mold

    With a long family history in hospitality, Ryan Rivett shares his outlook on the “desirable” extended stay segment and his strategy for My Place as it celebrates 10 years of franchising.

    By • Aug. 5, 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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    Luxury, group travel in Las Vegas drove Q2 gains for MGM

    The resort operator said room rates on the books in Sin City are higher for the third quarter as well, but Formula 1 in Q4 is “off to a soft start.”

    By • Aug. 1, 2024
  • The exterior of a Marriott hotel.
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    JHVEPhoto via Getty Images
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    Group travel, hotel conversions bright spots for Marriott in Q2

    The hotel company saw increased RevPAR as well as portfolio growth in the second quarter of 2024, with both corporate traveler and developer momentum remaining strong.

    By • July 31, 2024
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    Robert Mora via Getty Images
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    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 • July 31, 2024
  • People sitting in hotel lobby
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    EXTREME-PHOTOGRAPHER via Getty Images
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    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 • July 30, 2024
  • New Orleans' Maison Métier and The Barnett will join Hyatt’s Independent Collection of brands.
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    Courtesy of Hyatt
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    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 • July 29, 2024
  • The glass exterior of the Anaheim Convention Center features blue signage denoting Wyndham's 2023 Global Conference.
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    Courtesy of Wyndham Hotels & Resorts
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    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 • July 25, 2024
  • JRK Property Holdings acquired California’s Hilton La Jolla Torrey Pines.
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    Courtesy of JRK Property Holdings
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    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 • July 22, 2024
  • The Standard Hotel in New York City glass door logo.
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    Neilson Barnard via Getty Images
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    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 • July 18, 2024
  • Host Hotels & Resorts acquired 1 Hotel Central Park from Starwood Capital Group.
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    Retrieved from 1 Hotels on July 18, 2024
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    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 • July 18, 2024
  • The Phoenix metropolitan area has seen growing hotel occupancy, ADR and RevPAR in recent years driven by strong travel fundamentals.
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    dszc via Getty Images
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    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 • July 16, 2024
  • The 500-key hotel tower at Bally’s Chicago Casino will sit at the southern end of the development.
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    Courtesy of Bally's Corp.
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    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 • July 15, 2024
  • The exterior of the Hilton Union Square.
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    Justin Sullivan via Getty Images
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    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 • July 3, 2024
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    Art Wager via Getty Images
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    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 • July 3, 2024
  • Aimbridge Hospitality filed a lawsuit against Avion Hospitality and its president and CEO, Robert Burg.
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    Courtesy of Aimbridge Hospitality
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    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 • June 26, 2024
  • Aerial view above Lake Merritt in Oakland, California. Looking across the lake at downtown Oakland with skyscrapers in the distance.
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    DianeBentleyRaymond via Getty Images
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    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 • June 26, 2024
  • Two businesses executives shake hands in office
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    opolja via Getty Images
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    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 • June 25, 2024
  • EOS Hospitality acquired The William Vale Hotel in Brooklyn, New York.
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    Courtesy of EOS Hospitality
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    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 • June 20, 2024
  • Hotel Equities appointed Aik Hong Tan as chief investment officer.
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    Courtesy of Hotel Equities
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    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 • June 13, 2024
  • Guests check in with the front desk in a hotel lobby
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    Hispanolistic via Getty via Getty Images
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    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 • June 13, 2024
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    Sean Pavone via Getty Images
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    LuxUrban Hotels names new CEO

    Robert Arigo will take over the beleaguered company, which has “much work to do” following legal troubles.

    By • June 12, 2024
  • An exterior image of a hotel
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    Retrieved from Wyndham Hotels & Resorts on August 04, 2023
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    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 • June 7, 2024