Mayer Brown

Wheelock Street may acquire the $458M Historic Cavalier resort in Virginia Beach, as Moon Palace opens 2,171 suites in Punta Cana. Plus, more hotel deal and development news.

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.