Bill Hornbuckle, CEO of MGM Resorts International, was named the national chair of the U.S. Travel Association’s board for a two-year term, succeeding Hilton’s Chris Nassetta.
U.S. hotel construction surged in Q4 2024, reaching 6,378 projects and 746,986 rooms, with strong year-over-year growth and continued expansion projected through 2026.
Truist projects 2025 will closely resemble 2024’s hotel performance—with modest RevPAR growth, potential M&A, and continued cost pressures for REITs—while favoring Wyndham and Ryman Hospitality.
In November 2024, Canada’s hotel industry experienced a significant boost, driven by Taylor Swift’s Eras Tour and a favorable calendar shift, with notable occupancy and rate increases in Toronto and Vancouver.
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.