Hilton has retained its position as the world’s most valuable hotel brand for the 10th consecutive year, according to the latest report by Brand Finance.
IHG and Choice were optimistic about the rest of the year, though Choice moderated its outlook. The lodging sector expanded with Kessler Collection and others breaking ground.
Design Hotels reported 10% portfolio growth, highlighted by new agreements including new Firmdale properties, and expansion with Grupo Habita, Drift Hotels, and ASH.
Park Hotels reinstated 2024 earnings guidance noting labor strikes and hurricanes disrupting operations, and announced a 4Q dividend of $0.60-$0.66 per share, yielding about 9.6%.
U.S. hotel revenue per available room rose 9.3% year-over-year for the week ending October 26, with New Orleans leading top markets at a 77.6% RevPAR increase – thanks in part to a Taylor Swift performance.
Choice Hotels International is expanding its portfolio of solutions for its extended-stay hotel conversions with the introduction of Lobby in a Box, a modular design package.