Kessler

Hotel industry profit per room remains at 90% of 2019 levels despite rising guest spending, due to increased operating costs and wages.

For the full year, Choice cut its projection for U.S. RevPAR to decline by between -2% and -3%, worse than a previous range of between 0% and -3%. Plus, more hotel deal and development news.

Multiple hotel companies announced property openings globally, including Peachtree Group receiving USCIS approval for a SpringHill Suites in Utah.

Barry Sternlicht is set to revive the Starwood brand through his current hotel management company, SH Hotels & Resorts, rebranding it as Starwood from February.

Marriott International is expanding its Marriott Branded Residences globally, enhancing benefits for Residence Owners through the ONVIA platform and leveraging Marriott's hospitality expertise to attract developers and buyers.