Park Hotels and Resorts Inc.

Hard Rock International will cease operations of The Mirage Hotel & Casino to begin transforming the venue into the Hard Rock Hotel & Casino and Guitar Hotel Las Vegas. The new resort will feature a guitar-shaped hotel nearly 700 feet in height.

Park Hotels exceeded adjusted EBITDA and AFFO estimates and raised their financial guidance, citing optimism in their group and leisure outlook, likely due to recently renovated properties.

NoMad's Las Vegas property will be left behind as new owner Hilton focuses on other properties currently – and in the future – of the brand.

CBRE anticipates continued growth in the U.S. hotel industry in 2024, with a 3% RevPAR increase driven by recovery in international travel and strong segments performance, amidst challenges of increasing operational costs and pressure on profit margins.

Hampton by Hilton announced a new North American prototype and the unveiling of a refreshed global brand identity, with key updates for both Hampton Inn and Hampton Inn & Suites.

Hilton will acquire the Graduate Hotels brand for $210 million, which includes all rights to the Graduate brand worldwide, franchise agreements for all existing and signed pipeline Graduate Hotels, and future development and growth.

The Fed Chief made it pretty clear there will be no interest rates lowered for some time and the markets seemed to like the certainty.

Travel + Leisure Co. has closed the acquisition of the vacation ownership business of Accor. The acquisition is expected to be immediately accretive to Travel + Leisure Co. earnings.

At the close of 2023, analysts state that the total global construction pipeline stands at 15,196 projects and 2,367,727 rooms, a 7% increase in projects and a 3% increase in rooms year-over-year.

Hotel growth in February was balanced with 64% of markets showing increased occupancy and 70% achieving a higher ADR than last year.