Quality Inn

Marriott opened its first StudioRes hotel in Fort Myers, marking the company's entry into midscale extended stay lodging.

Choice Hotels International is expanding in China, announcing a distribution and franchise agreement with SSAW Hotels & Resorts Group.

If Alexico Group wants to sell the Mark Hotel in New York City, it may have a significant offer awaiting. Plus other hotel development news.

Yet the hotel industry continues to expand globally with multiple new properties and several boutique hotel openings.

Hyatt Hotels is acquiring Playa Hotels & Resorts for $2.6 billion, funding it largely with new debt and asset sales, strengthening its all-inclusive presence in the Caribbean and Mexico.

Choice Hotels expanded its upscale Cambria brand by introducing a conversion model that helped overcome financing challenges and spurred growth, with 74 properties now open and 62 more in development.

IHG Hotels & Resorts unveiled new prototype options for Staybridge Suites, Candlewood Suites, and Atwell Suites, set to roll out by Q2 2024 and debut in properties as early as 2025.

Hilton Grand Vacations Inc. completed the previously disclosed acquisition of Bluegreen Vacations. The transaction broadens HGV’s offerings, customer reach, and sales locations, creating a premier vacation ownership, and experiences company.

Jefferies upgraded Park Hotels to Buy from Hold, reflecting positive changes like the removal of their San Francisco assets. Meanwhile, they downgraded Choice Hotels to Underperform from Hold due to concerns over its acquisition strategy, specifically regarding Wyndham Hotels. Apple Hospitality REIT, Inc. announced the acquisition of the Springhill Suites by Marriott Las Vegas Convention Center for approximately $75 million. Bradford Allen Hospitality acquired two hotel properties in Riverhead, New York, planning significant renovations for both. PEG Companies opened The Moxy in the historic Luhrs Building in downtown Phoenix, Arizona. Hawkeye Hotels commenced construction of a Fairfield Inn & Suites in downtown Spartanburg, South Carolina, targeting a spring 2025 opening.

B.Riley Securities downgraded Ashford Hospitality Trust. US hotel RevPAR increased by 6.3%. Innisfree Hotels acquired Hampton Inn in Florida; Apple Hospitality REIT bought Embassy Suites in Utah. Quality Inn in Cincinnati to become a senior living facility. Ranchhod LLC acquired Country Inn & Suites in North Carolina. JMA Ventures and Machete Group developing a mixed-use project in Orlando. Prospera Hotel plans a new hotel in Seattle. The Charles Hotel in Massachusetts updated suites and dining areas. West Baden Hotel in Indiana undergoing roof repair. Park Hotel in Ireland sold to Bryan Meehan. Como Hotels & Resorts opening new resort in Italy. Host AB sold a majority stake in Swedish hotels. Marriott introduced a new design for Courtyard in Berlin. The Standard International launching The StandardX in Melbourne, Australia.