Concord Development

A stalking-horse buyer has offered $500 million for the abandoned Oceanwide Plaza in Downtown Los Angeles, which includes a partially built Park Hyatt hotel.

Lodging stocks had a good day, with Selina’s first day of trading leading the way, surging to a close of $40.90. Hersha Hospitality , Accor and Travel + Leisure reported results with TNL getting the worst reviews . Selina and BOA announced the closing of their business combination which was approved by BOA stockholders on October 21, 2022.