Global Hotel Transactions Reach $42 Billion Q3
Global hotel investments are booming, with a 13% RevPAR increase, high cross-border deals, and $42.1B in transactions, driven by strong demand for luxury and select-service hotels.
Kim Woinski
Kim is Vice President of Gaming USA Corporation, the previous owner of the Daily Lodging Report, now owned by Skift. Kim is the primary writer of the Daily Lodging Report – North America. Kim moved to Southwest Florida in July of 2020 and recently became a first time grandmother to baby Susie.
Earnings Day for Host Hotels, RLJ, Xenia and More
Many U.S. hotel companies reported earnings, with RLJ Lodging Trust beating estimates but giving a softer forecast, Xenia Hotels missing across the board, and Host Hotels posting a modest beat despite hurricane impacts.
Mandarin Oriental Plans Miami Project
Mandarin Oriental Hotel Group is expanding in Miami with a new Brickell Key project, adding projects in Mexico and Grand Cayman.
Ryman, Summit and Apple Report Growth
Ryman and Apple Hospitality both reported earnings beats, with Ryman raising its dividend and Apple buying back shares and tightening guidance, while Summit grew results despite hurricanes.
Marriott and Choice Report Q3 Earnings
Choice Hotels’ Q3 results led to a stock uptick, while Marriott’s mixed report and lower Q4 guidance saw its shares decline despite share buybacks and a new cost-cutting plan.
KSL Sells Davidson Hospitality
Nautic Partners acquired Davidson Hospitality Group from KSL Capital Partners, with KSL remaining involved as a manager, marking Nautic's entry into hotel management ownership.
Hyatt Has Had a Good Year, But Stock Still Drops After New Guidance
Hyatt’s stock dropped over 6% after the company lowered its growth outlook, adjusted EBITDA, and free cash flow guidance for 2024.
Sonesta Announces 30 New Franchise Agreements
Sonesta International Hotels Corporation signed 30 new franchise agreements across seven of its brands in Q3 2024.
Wyndham Expands Extended-Stay Portfolio
Wyndham Hotels & Resorts, in partnership with Reside, has launched its new Wyndham Residence brand in the U.S., offering upscale, residence-style accommodations in major cities like Houston and Washington D.C., with plans for expansion across top U.S. markets.
Waldorf-Astoria to Open Residences in Colorado
PMG and Hilton are developing the Waldorf Astoria Residences in Denver Cherry Creek, introducing the luxury brand to Colorado with 37 high-end residences and exclusive amenities managed by Hilton.