Eastdil Secured

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.

San Francisco's largest hotel complex, Hilton San Francisco Union Square and Parc 55, is nearing a sale after over a year in court-appointed receivership.

Sonesta International Hotels Corporation signed 30 new franchise agreements across seven of its brands in Q3 2024.

Hotel construction in Los Angeles has significantly declined, with many projects facing foreclosure or bankruptcy, and financing difficulties limiting new developments.

San Francisco’s two largest hotels have lost over $1 billion in value, now worth $553.8 million, prompting a downgrade in bond ratings and a rush to sell before foreclosure.

IHG Hotels & Resorts plans to double the Hotel Indigo portfolio within three to five years, adding new properties in diverse locations such as the Cayman Islands, Oman, Mexico, and more, with several openings scheduled throughout 2024.

Truist expects varied 2Q earnings for the hotel sector, with C-Corps' results depending on geography and customer mix. U.S. hotel industry performance in June 2023 showed improvements from the previous month but lower year-over-year changes. RLJ Lodging Trust 's Nashville property joins Hilton's Tapestry Collection after a comprehensive renovation, marking the company's third conversion in 2023.