IHG Hotels and Resorts is expanding aggressively in Vietnam and India, aiming to significantly grow its luxury, premium, and midscale hotel portfolios across key destinations.
Ryman and Apple Hospitality both reported earnings beats, with Ryman raising its dividend and Apple buying back shares and tightening guidance, while Summit grew results despite hurricanes.
A report from last week's Lodging Conference points to a surge in hotel transactions due to maturing loans, growing construction, and renovation projects, despite labor challenges and softening RevPAR trends.
The World Travel & Tourism Council predicts 2024 will be a record year for the sector, with an economic contribution expected to hit $11.1 trillion, indicating robust growth and significant job creation.
Club Med released new data showing the company has reached a fresh milestone by achieving more than $2 billion in international business volume for the first time ever.
Hyatt aims to expand its presence in China's economy and midscale hotel segments, leveraging local partnerships and focusing on second and third-tier cities.