Portman Holdings

Portman acquired the Westin Peachtree Plaza from Marriott and plans a renovation before the 2028 Super Bowl in Atlanta. Plus, more hotel deal and development news.

CoStar said the volume of US hotel rooms under construction decreased year over year for a sixth consecutive month, down by almost 12%.

Jefferies upgrades Hilton and Marriott to Buy, citing business model strength and shift to durable growth drivers amid uncertainty.

Club Med announced renovations at its Cancun and Punta Cana resorts and plans for a new luxury resort in Oman opening in 2028.

Hilton said they ended 2023 with the strongest development quarter in its history while Marriott International, Inc. announced the company’s record year of global signings with 52% more organic rooms signed in 2023 than the previous year.

The earnings calendar accelerated in both the REIT and C-Corp section in the past 24 hours. Hyatt received the most attention with a clean beat but then some concerns creeping in. Host Hotels had a lousy two days to issue a great report with a clean and positive beat and raise. Summit Hotels came in just under consensus even with a strong top-line performance as higher hotel-level expenses hurt results.