CoStar expects demand growth to continue across all price points, with luxury outperforming and the high-end customer showing no pushback on higher ADRs. Plus, more hotel deal and development news.
Lotte Hotels & Resorts is moving away from direct ownership of overseas hotels in favor of management contracts. Plus, more hotel deal and development news from APAC.
Sixth Street has acquired the Park Hyatt Beaver Creek Resort & Spa, a 193-key resort in Colorado, for $176 million from Braemar Hotels & Resorts. Plus, more hotel development news.
Developers are building a $150 million Sports Illustrated-branded riverfront resort in Tuscaloosa, with 161 units and roughly 12,000 square feet of restaurant and retail space. Plus, more hotel deal news.
JLL brokers a hotel sale. Analysts debate whether Choice Hotels CEO Patrick Pacious was pushed out, as Airbnb adds boutique hotels to its platform. Plus, more hotel deal and development news.
JLL reported U.S. hotel deal volume grew 14.4% in Q1 to $5.6 billion, with private equity making up 34% of the buyer pool. Plus, more hotel deal and development news.
Hotel Clark, a 1914 landmark in Downtown LA, returns this summer as a 348-room full-service lifestyle property. Plus, more hotel deal and development news.