North America
Regent Hotels Returns to the U.S.
The Regent Santa Monica Beach opened on October 1 as Regent's first U.S. hotel since IHG's 2018 acquisition, following a $150 million renovation.
Autograph Collection
Asia-Pacific
Philippine Hotel Pipeline Reaches 40,000 Rooms
The 2024 Philippines Accommodation Pipeline Report reveals 158 accommodation projects with 40,084 rooms in development, with Luzon leading, followed by Visayas and Mindanao, which is noted as an underserved market.
Asia-Pacific
Business Travel Grows in APAC
Strong passenger demand, in-person events, and positive industry momentum are driving business travel growth, with global passenger demand up 9.1%, hotel occupancy nearing 70%, and steady travel demand expected through the next quarter.
North America
Truist Unveils Forecasts for Hotels
Truist reports slight downward revisions in U.S. hotel booking and pricing trends for 3Q and 4Q, with modest growth expected in 2025, but no signs of a sudden pullback or near-term upside for RevPAR.
Asia-Pacific
Hilton Targets 100 New Hotels A Year in China
Hilton is rapidly expanding in China, opening its 700th hotel and targeting 100 new hotels annually, with plans to potentially open one every two days.
North America
U.S. Hotel Performance May Be Down But RevPAR Is Still Up
CBRE has lowered its U.S. hotel performance forecast for 2024 due to weakening leisure travel and corporate profits but still expects RevPAR growth driven by international tourism and election-related events.
North America
U.S. Hotels State of the Union Reveals Surge in Short-Term Rental Demand
The CBRE August 2024 U.S. Hotels report highlights slowing GDP growth, moderate consumer risks, declining CMBS borrowing rates, and mixed performance in hotel occupancy, RevPAR, and travel metrics.
Asia-Pacific
Macau to Add 3,000 Hotel Rooms
Nearly 3,000 new hotel rooms are under construction in Macau, with seven more projects planned, while neighboring Hengqin offers cheaper accommodation alternatives.
North America
New York City Targets Hotel Labor Sub-Contracting
A proposed bill in New York City aims to ban nonunion hotels from outsourcing key functions, potentially disrupting hotels that subcontract consumer-facing work to firms that pay employees lower wages for tasks like housekeeping and security.
North America
Wyndham and Accor Post Earnings Updates
Wyndham showed strong performance through expense containment and share repurchases, and Accor increased RevPAR, net unit growth, and EBITDA.