citizenM has opened its second Boston property, citizenM Boston Back Bay, a 15-story hotel with 399 guestrooms, curated artwork, and a rooftop bar, making it the company's largest hotel within the Lyrik development.
Hotel construction in Los Angeles has significantly declined, with many projects facing foreclosure or bankruptcy, and financing difficulties limiting new developments.
Indonesia has imposed a moratorium on hotel and nightclub construction in Bali to curb overdevelopment and protect the island’s culture and environment.
STR reported U.S. lodging data for the week ending August 31, showing a 3.6% rise in RevPAR, with ADR up 1.6% and occupancy up 1.9%. Group RevPAR increased 7.2% on a 7.1% occupancy boost.
Truist reports slight downward revisions in U.S. hotel booking and pricing trends for 3Q and 4Q, with modest growth expected in 2025, but no signs of a sudden pullback or near-term upside for RevPAR.
JLL Capital Markets successfully refinanced three major Texas hotels—Sheraton Dallas, Marriott Marquis Houston, and Fairmont Austin—securing significant loans for each property.
IHG Hotels & Resorts is expanding its presence in Thailand by introducing its new brand, Garner, and aiming to double its hotel portfolio in the country.