Sonesta International Hotels Corporation

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.

Marriott International has begun a company-wide restructuring with layoffs across its corporate business, confirmed after hints in previous conference calls.

Park Hotels reinstated 2024 earnings guidance noting labor strikes and hurricanes disrupting operations, and announced a 4Q dividend of $0.60-$0.66 per share, yielding about 9.6%.

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.

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.

IHG Hotels & Resorts reported mixed results, with global RevPAR up 1.5% despite a 10% decline in China, and announced the end of its licensing deal with The Venetian and The Palazzo in 2025.

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.

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.

Skyline Investments sold 11 Courtyard by Marriott hotels in the U.S. for $101 million, retaining ownership of three other Courtyard properties, which are up for sale.