Mumford Company

International expansion is gaining ground at Choice, with full control in Canada and rising overseas openings. Plus more hotel deals and development news.

Marriott signed agreements for hotels in: Detroit, Michigan; Muskoka, Canada; Gulf of Papagayo, Guanacaste, Costa Rica; and Jeddah, Saudi Arabia; bringing the Marriott Branded Residences total open and pipeline portfolio to around 300 projects.

Aimbridge Hospitality is restructuring its finances by converting $1.1 billion in debt to equity, securing $100 million in new capital, and shifting majority ownership to its first lien lenders, with completion expected in early 2025.

Ashford Hospitality Trust introduced the “GRO AHT” initiative to cut overhead, boost revenue, and enhance operational efficiency, thereby driving EBITDA growth and improving shareholder value.

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.

Wyndham Hotels & Resorts, in partnership with Reside, has launched its new Wyndham Residence brand in the U.S., offering upscale, residence-style accommodations in major cities like Houston and Washington D.C., with plans for expansion across top U.S. markets.

Hyatt Hotels is expanding its select service pipeline by 25% in the Americas, with significant global growth of its Caption by Hyatt and Hyatt Studios brands, while also upgrading its Hyatt House and Hyatt Place brands for better efficiency and guest experience.

The CBRE August 2024 U.S. Hotels report highlights slowing GDP growth, moderate consumer risks, declining CMBS borrowing rates, and mixed performance in hotel occupancy, RevPAR, and travel metrics.

Wyndham showed strong performance through expense containment and share repurchases, and Accor increased RevPAR, net unit growth, and EBITDA.

Hilton is dramatically expanding its portfolio of luxury hotel experiences with the addition of nearly 400 boutique properties from the Small Luxury Hotels of the World collection.