Marriott International beat second-quarter expectations but did what most of the others have not been doing: lowered the 2025 RevPAR outlook. Plus more hotel deals and development news.
Ace Hotel/Atelier Ace welcomes brand veteran Chris Penn as its CEO, appoints Mostafa Abdella as COO, and elevates Meriem Soliman to Chief Brand Officer.
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%.
Business travel is set to surpass pre-pandemic levels in 2024, with global spending projected to reach $1.5 trillion, driven by strong growth in the U.S. and China.