BofA Securities says the lodging sector beat Q1 earnings by about 5% on average, but high expectations muted investor reactions. Plus, more hotel deal and development news.
Meanwhile, Truist forecasts mid and upper-end U.S. hotel RevPAR growth of 2% to 4%, above Wall Street consensus, while upgrading Airbnb. Plus, more hotel deal and development news.
Marriott launched Series by Marriott in the U.S. with a Santa Barbara conversion and signed 11 European hotel projects. Plus, more hotel deal and development news.
IHG launched its 21st brand, Noted Collection, while Hyatt's Thomas Pritzker resigned over ties to Jeffrey Epstein and Ghislaine Maxwell. Plus, deal and development news.
Jefferies says World Cup should offset cost inflation and geopolitical issues, predicting modest RevPAR growth and solid earnings in 2026. Plus more hotel deal and development news.
Service Properties Trust sold five hotels for a combined sales price of $75.5 million. New World is selling the Rosewood London. And other hotel deal and development news.
Newbond Holdings and Conversant Capital have closed on the purchase of the Parc 55 and Hilton San Francisco Union Square for $408 million. Plus, more hotel deal news.