Sheraton Hotels & Resorts

In July 2024, the U.S. hotel industry saw flat year-over-year performance, with Oahu Island leading in key metrics, while Phoenix and New Orleans had the lowest occupancy rates.

The majority of projects are concentrated in the upper midscale and upscale segments, which account for 69% of the projects and 65% of the rooms in the pipeline. This focus on mid-to-high-end properties suggests a market shift toward catering to more affluent travelers.

Key events included DiamondRock Hospitality's upgrade, Hyatt and Apple Hospitality lowering guidance, and IHG reporting strong new room signings despite challenges in China.

Luxury and upper upscale hotel segments show strong guest satisfaction, while limited-service segments have declined, with The Luxury Collection, Margaritaville Hotels & Resorts, and others ranking highest in their categories.

Hilton's Doubletree by Hilton brand has surpassed 100 properties in the Asia Pacific region, with significant expansions in Indonesia, Japan, India, and China, and plans for nearly 80 more properties to support their goal of exceeding 1,000 hotels in the region next year.

International visitor arrivals to Vietnam increased by 58.4% to over 8.8 million in the first half of 2024, with South Korea being the largest source market.

Thailand's cabinet extended a waiver on operating fees for hoteliers for two more years to support the tourism sector's recovery from Covid-19.

IHG Hotels & Resorts plans to double the Hotel Indigo portfolio within three to five years, adding new properties in diverse locations such as the Cayman Islands, Oman, Mexico, and more, with several openings scheduled throughout 2024.

IHG Hotels & Resorts is significantly expanding its luxury and lifestyle portfolio in Mexico, Latin America, and the Caribbean, with multiple new openings planned through 2027, including properties from its Six Senses, InterContinental, Kimpton, Vignette Collection, and Hotel Indigo brands.

Hard Rock International will cease operations of The Mirage Hotel & Casino to begin transforming the venue into the Hard Rock Hotel & Casino and Guitar Hotel Las Vegas. The new resort will feature a guitar-shaped hotel nearly 700 feet in height.