IHG Hotels & Resorts reported mixed results, with global RevPAR up 1.5% despite a 10% decline in China, and announced the end of its licensing deal with The Venetian and The Palazzo in 2025.
International tourism in the first seven months of 2024 grew by 11% compared to 2023, nearing 2019 levels, with all regions showing strong recovery, led by the Middle East, and many countries exceeding pre-pandemic arrival numbers and receipts.
Hyatt Hotels Corporation is expanding its luxury and lifestyle hotel portfolio with over 20 recent and planned openings across the U.S., Canada, Latin America, and the Caribbean through 2025.
In July 2024, the U.S. hotel industry saw flat year-over-year performance, with Oahu Island leading in key metrics, while Phoenix and New Orleans had the lowest occupancy rates.
Key events included DiamondRock Hospitality's upgrade, Hyatt and Apple Hospitality lowering guidance, and IHG reporting strong new room signings despite challenges in China.
The U.S. hotel construction pipeline has reached a 16-month high with significant growth in midscale and economy segments, driven by newer brands and extended-stay projects.
Aimbridge Hospitality sued Avion Hospitality and its CEO, Robert Burg, for allegedly using confidential information to interfere with its management contracts, resulting in tens of millions in lost revenue.