Courtyard by Marriott

MCR secured $300 million in refinancing for a 22-hotel portfolio spanning 14 states, replacing $280 million in prior debt through a CMBS transaction with J.P. Morgan and BMO Capital Markets as co-leads.

Global hotel transactions rose to $42.1 billion in Q3 2024, driven by large deals and robust fundamentals, with further growth expected amid favorable economic conditions.

Leisure travel is set to grow in 2025, driven by increased international trips, greater use of travel advisors, and rising interest across demographics.

Grand Hyatt is rapidly expanding and enhancing its global portfolio, with over 10 new hotels opening by 2027 and extensive renovations across existing properties to meet the evolving needs of luxury travelers.

STR reported U.S. hotel data for the week ended November 9. U.S. hotel RevPAR fell -3.5%, with occupancy down -3.5%.

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.

Hyatt’s stock dropped over 6% after the company lowered its growth outlook, adjusted EBITDA, and free cash flow guidance for 2024.

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.

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.

Service Properties Trust is reducing its dividend, selling 114 hotels to repay debt and save on capital expenditures, and will continue owning 34% of Sonesta while selling other properties.