Houston Set to Get 153-Room AC Hotel by Marriott
Photo Caption: AC Hotel By PA hospitality, GC Awarded Anchor Construction.
Skift Take
A $19 million construction project has started on the AC Hotel by Marriott CityCentre Houston. Plus, more hotel deal and development news.
The DJIA surged 875 points, but the Nasdaq was down 23 as we had yet another mixed-up market. The S&P 500 was up 31 points, and the 10-year treasury yield was down .01 to 4.48%. The Lodging REIT train just keeps on moving with new 52-week highs set by CLDT, RLJ, PK, SHT, PEB, APLE, XHR, SHO, RHP, DRK, along with the lone C-Corp hitting a new high water mark, IHG.
There was an interesting hotelAVE summary of their findings from the NYU Conference. They sensed a lot of optimism all around, including operators, owners, brokers, and consultants. They see capacity constraints in premium hotels during peak periods and pricing, pushing some customers into upscale and mid-scale segments, creating a "rising tide lifts all boats" demand effect. The rise in oil prices is lifting hotel occupancy in oil-producing regions and driving up airfares for long-haul international flights, driving more domestic vacation stays. They are expecting more transaction volume with a convergence o
