Equinox Hospitality

The City of Memphis closed on the $22 million deal to buy the Sheraton Hotel Downtown. Plus, more hotel deal and development news.

Marriott closed its acquisition of CitizenM in only three months and will complete the integration in about a month's time, both much faster than the industry average. Plus more hotel news.

Truman and Marriott International, Inc. announced plans to open three hotels in Calgary, including W Calgary, JW Marriott Calgary, and an Autograph Collection Hotel on Stampede Park.

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.

Tokyo domestic tourism bounced back to pre-pandemic levels in 2022, with 542.67 million Japanese tourists visiting, but foreign tourists declined by about 78% compared to 2019. Macau 's hotel industry showed significant recovery in June 2023, with an 89% average occupancy rate, and daily room rates increased by over 100% year over year. Beyond Stay , an Indian hotel chain, raised funds in a Pre Series A investment round to expand its presence in new locations and improve its technology infrastructure.

Stock Market Update: DJIA, Nasdaq, and S&P 500 all ended the day with gains, reflecting a broad market RLJ Lodging Trust : Baird reports positive investor meetings, highlighting underappreciated growth outlook and company drivers. Hotel Developments: AC Hotels by Marriott planned in East Memphis , acquisition of Westin Annapolis , and Equinox Hospitality 's acquisition and rebranding of Four Points by Sheraton San Rafael Marin County.