Cushman & Wakefield Global Hospitality

Virgin Hotels has sold its 250-room hotel in Chicago to a firm specializing in converting properties into timeshare investments. Plus more hotel deals and development news.

Canada hotels gain 5.3% RevPAR in May; multiple hotel deals, acquisitions, renovations & new openings across North America and Europe.

Marriott signed agreements for hotels in: Detroit, Michigan; Muskoka, Canada; Gulf of Papagayo, Guanacaste, Costa Rica; and Jeddah, Saudi Arabia; bringing the Marriott Branded Residences total open and pipeline portfolio to around 300 projects.

Hotel REIT executives at Nareit showed caution due to transaction market weakness and uncertainty, with Truist citing stock frustration.

Hilton's strong earnings report boosted lodging stocks, eased election concerns, and led analysts to raise 2025 capital return expectations.

In 2024, Hilton achieved 7.3% net unit growth by adding nearly 1,000 hotels and strengthening its global pipeline, while expanding its brand portfolio with new lifestyle and luxury offerings worldwide.

U.S. hotel performance in February 2024 saw modest revenue gains driven largely by Las Vegas and major events, with luxury and upscale chains leading growth amidst varied demand across other segments.

Starwood Capital Group signed a deal with SPAC Jaws Mustang Acquisition to merge. If completed, the SPAC will become the direct or indirect owner of Starwood entities’ interests in an initial portfolio of 10 properties, including the 1 Hotel Brooklyn Bridge.

U.S. hotel industry saw positive growth in RevPAR and rates for the week ending September 30, with Group RevPAR showing significant improvement. Rosewood Hotels & Resorts is expanding its branded residence portfolio especially in Europe. Various hotel projects and developments are underway in different locations, including downtown Springfield, Norfolk, San Antonio, Beaufort, and Las Vegas, with a range of amenities and timelines.

The DJIA fell 350 points, Nasdaq was down 154, the S&P 500 fell 45 points and the 10-year treasury yield was up .01 to 3.72%. Mizuho cut their price target on Airbnb to $110 from $125. They maintained their Neutral rating on the stock. STR reported US lodging data for the week ended 12/31. US hotel RevPAR was up 4.2% year over year while up 35.6% versus the same week in 2019.