Service Properties Trust

Many U.S. hotel companies reported earnings, with RLJ Lodging Trust beating estimates but giving a softer forecast, Xenia Hotels missing across the board, and Host Hotels posting a modest beat despite hurricane impacts.

Mandarin Oriental Hotel Group is expanding in Miami with a new Brickell Key project, adding projects in Mexico and Grand Cayman.

Ryman and Apple Hospitality both reported earnings beats, with Ryman raising its dividend and Apple buying back shares and tightening guidance, while Summit grew results despite hurricanes.

Choice Hotels’ Q3 results led to a stock uptick, while Marriott’s mixed report and lower Q4 guidance saw its shares decline despite share buybacks and a new cost-cutting plan.

Nautic Partners acquired Davidson Hospitality Group from KSL Capital Partners, with KSL remaining involved as a manager, marking Nautic's entry into hotel management ownership.

Sonesta International Hotels Corporation signed 30 new franchise agreements across seven of its brands in Q3 2024.

A report from last week's Lodging Conference points to a surge in hotel transactions due to maturing loans, growing construction, and renovation projects, despite labor challenges and softening RevPAR trends.

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.

Hoshino Resorts is set to open its first new-build hotel in the United States by 2028, bringing a 40-room luxury resort to the small town of Sharon Springs, New York, marking a significant expansion for the renowned Asian hotel operator.

Service Properties Trust is reducing its dividend, selling 114 hotels to repay debt and save on capital expenditures, and will continue owning 34% of Sonesta while selling other properties.