The Ritz-Carlton brand will make its debut on Mexico's Caribbean coast with The Ritz-Carlton Residences, Riviera Maya, featuring 127 residences, with sales and construction starting this year and the first phase debuting in 2026.
The 2024 CBRE Global Hotel Investors Intentions Survey indicates U.S. hotel investors are optimistic, with plans to increase investments, despite challenges like debt servicing and rising costs, favoring urban and leisure markets such as New York City, Miami, Charleston, and Boston.
Truist is optimistic about Wyndham Hotels' new developments, RevPAR growth, and brand launches, highlighting a strong positive outlook on the economy and travel spending, with franchisees highly confident.
Archipelago International opened its first office in the Dominican Republic and signed multiple hotel management agreements in the DR and Mexico, adding numerous new properties.
The Wyndham Orlando Resort on International Drive is set to close on April 30, with potential plans for partial preservation and redevelopment by owner Unicorp National Developments Inc.
Park Hotels exceeded adjusted EBITDA and AFFO estimates and raised their financial guidance, citing optimism in their group and leisure outlook, likely due to recently renovated properties.