Asia-Pacific
Oberoi Family Fight Hasn’t Stopped Hotel Growth
EIH Ltd plans to build new hotels in Pune and London, while facing a legal family dispute over the company.
Park Hyatt
North America
Hyatt to Buy Standard International’s Brands
Hyatt Hotels announced plans to acquire Standard International's brands and affiliates, creating a new lifestyle group led by Amar Lalvani, with a $150 million base purchase and potential additional payments.
Asia-Pacific
Philippines Holds on to 2024 Tourist Targets
The Philippines aims for 7.7 million tourists in 2024 despite challenges, with South Korea as the top source market and a significant increase in visitor receipts this year.
Asia-Pacific
Hyderabad and Mumbai Lead Indian Hotels’ Growth
The Indian hotel industry saw a 4.8% RevPAR growth in 2Q24, with Hyderabad leading the gains, while Mumbai hotels topped in occupancy, ADR, and RevPAR, despite a dip in overall occupancy due to summer vacations and reduced corporate travel.
North America
Hilton Beats Estimates
Hilton beat estimates and cut guidance, and seemed to have a report that was accepted more than Marriott ’s. The company has raised their net room growth target for the year and it repurchased shares this quarter.
North America
Los Angeles’ Trio of Grafitti’d Hotel and Condo Towers Gets a Bidder
A stalking-horse buyer has offered $500 million for the abandoned Oceanwide Plaza in Downtown Los Angeles, which includes a partially built Park Hyatt hotel.
Asia-Pacific
ITC Shareholders Okay Hotel Spin-Off
ITC shareholders approved the company's plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.
North America
Marriott Boosts Quarterly Dividend 21%
In a week filled with earnings news, Marriott’s increased dividend will likely please investors the most.
Asia-Pacific
Lost in Renovation: Park Hyatt Tokyo Closes for One Year
The iconic Park Hyatt Tokyo will close for at least a year while it renovates. Though it's hard to imagine how it could improve.
North America
Blackwells Withdraws Offer to Purchase Braemar Hotels
Blackwells Capital attempted to buy Braemar Hotels & Resorts, failed, and is now trying to elect four directors to BHR's board despite owning a minimal amount of shares, facing opposition and legal action from BHR.