Omni's $600M Hotel Project in New Orleans Approved
Photo Credit: A rendering of what the Omni New Orleans Convention Center Hotel might look like when it is built. Omni
Skift Take
New Orleans' convention center has approved a new design for a $600 million headquarters hotel run by Omni. Plus, more hotel deal news.
The DJIA dropped 387 points with the big damage in the Nasdaq again, down 486 or 2.15%, while the S&P 500 fell 103 points. The 10-year treasury yield was down .03 to 4.11% and lodging stocks were lower. CHH, WH, and AHT hit new 52-week lows, with the latter down 9% on the day.
Evercore ISI Group cut its price target on Park Hotels & Resorts to $12 from $13. It maintained its In-Line rating. Evercore raised its price target on DiamondRock Hospitality to $10 from $9 while maintaining its In-Line rating. Baird raised its price target on Hyatt to $156 from $154. It maintained its Neutral rating.
In October 2025, the U.S. hotel industry continued to decline in occupancy rates, marking the eighth consecutive month of year-over-year decreases. According to CoStar, the national occupancy rate fell to 65.8%, a 2.4% decline from September 2024. Despite th
