JLL Capital Markets successfully refinanced three major Texas hotels—Sheraton Dallas, Marriott Marquis Houston, and Fairmont Austin—securing significant loans for each property.
Accor has opened its 700th hotel in China, the Sofitel Shanghai North Bund, coinciding with the Sofitel brand's sixtieth anniversary and the China-France Year of Culture and Tourism.
IHG Hotels & Resorts plans to double its presence in India to 100 hotels over the next five years, expanding in key cities and introducing the InterContinental brand in Telangana by 2029.
Travel + Leisure Co. has closed the acquisition of the vacation ownership business of Accor. The acquisition is expected to be immediately accretive to Travel + Leisure Co. earnings.
Extended Stay America announced its growth outlook through franchising, following the momentum from a strong year of milestones, including 20% growth of its franchise portfolio across its family of brands.
Hilton announced LivSmart Studios by Hilton is the official name of its new studio apartment-style, extended-stay hotel brand. LivSmart Studios already has more that 350 deals in various stages of negotiation.