Small Luxury Hotels of the World

Virgin Hotels has sold its 250-room hotel in Chicago to a firm specializing in converting properties into timeshare investments. Plus more hotel deals and development news.

Hilton reached 1,000 luxury and lifestyle hotels globally with recent openings in Paris, Cape Town, Dallas, Osaka, and Costa Rica, planning 150-plus more in 2025.

IHG and Choice were optimistic about the rest of the year, though Choice moderated its outlook. The lodging sector expanded with Kessler Collection and others breaking ground.

In 2024, Hilton achieved 7.3% net unit growth by adding nearly 1,000 hotels and strengthening its global pipeline, while expanding its brand portfolio with new lifestyle and luxury offerings worldwide.

MCR secured $300 million in refinancing for a 22-hotel portfolio spanning 14 states, replacing $280 million in prior debt through a CMBS transaction with J.P. Morgan and BMO Capital Markets as co-leads.

The U.S. hotel deals market is expected to see steady annual growth of around 10% over the next few years, despite regional variations in activity.

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.

Hilton plans to significantly expand its luxury hotel portfolio in Asia Pacific, aiming to surpass 150 properties by partnering with Small Luxury Hotels of the World and introducing new luxury brands to the market.

The nationwide hotel strike is intensifying, impacting major hotel chains and owners, with concerns about the long-term effects of either giving in to union demands or enduring prolonged strikes.

A proposed bill in New York City aims to ban nonunion hotels from outsourcing key functions, potentially disrupting hotels that subcontract consumer-facing work to firms that pay employees lower wages for tasks like housekeeping and security.