A Supersized Roundup of Hotel Investment and Development News
Skift Take
After a week mostly spent on vacation, DLR returns with everything you need to know about the lodging industry before the next week starts.
The DJIA ended Friday with a drop of 87 points while the Nasdaq was down 40, the S&P 500 fell 6, and the 10-year treasury yield was up .15 to 4.43%.
STR reported US lodging data for the week ended 6/1. US hotel RevPAR was up 1% on a 0.9% rise in occupancy year over year. Group RevPAR was up 0.9%.
Marriott International, Inc. plans to convert three luxury properties in the U.S. to brands within the Marriott Bonvoy portfolio. The company's three planned luxury conversions include: a luxury hotel in New York, New York, is expected to join the Marriott Bonvoy portfolio on June 5, marking The Luxury Collection's return to New York City. The Resort at Pelican Hill, located in Newport Beach, California, is expected to join Marriott's luxury portfolio on July 1. The 504-acre resort includes the Pelican Hill Golf Club. Turtle Bay Resort, located on the North Shore
