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.
Selina Hospitality's existing shareholders face dilution as Osprey International Limited expedites its $6 million investment, impacting the company's total share structure unfavorably.
Canadian business travel is expected to grow robustly in 2024, outpacing global and U.S. rates, with increased spending and trip frequency despite financial challenges.
During the hotel group's earnings season, Hilton's report stood out as the most impressive – despite showing slowing RevPAR growth – due to strong performance in Net Unit Growth and EBITDA flow through.
The Americas is the only region to show an increase in hotel construction and development activity in the first quarter of 2024, contrasting with declines or slower growth in Europe, Asia Pacific, and the Middle East and Africa.
JP Morgan forecasts mixed 1Q24 results for the lodging sector, with slow RevPAR growth, strong net rooms growth, and moderating pipeline expansion, recommending selectiveness due to varied performance across companies.
The Camino Real hotel chain plans to spend three billion pesos on remodeling and technology upgrades at its properties across several cities in Mexico.
Marriott Vacations Worldwide introduced The Marriott Vacation Clubs City Collection, featuring branded properties in seven cities with plans for expansion to other urban areas, including the addition of two Westin Vacation Club properties.