Marriott Vacations Worldwide's stock fell sharply due to a disappointing earnings report and a significant loan loss provision, indicating struggles in the timeshare market.
Marriott International is expanding its Marriott Branded Residences globally, enhancing benefits for Residence Owners through the ONVIA platform and leveraging Marriott's hospitality expertise to attract developers and buyers.
ECHO Suites Extended Stay by Wyndham opened its first location in Spartanburg, South Carolina, marking a milestone for the brand with a development pipeline of nearly 270 hotels.
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.
The 2024 CBRE Global Hotel Investors Intentions Survey indicates U.S. hotel investors are optimistic, with plans to increase investments, despite challenges like debt servicing and rising costs, favoring urban and leisure markets such as New York City, Miami, Charleston, and Boston.
International tourism nearly reached pre-pandemic levels in early 2024, with notable growth in the Middle East, Europe, and Africa, and a full recovery projected for the year.
Truist is optimistic about Wyndham Hotels' new developments, RevPAR growth, and brand launches, highlighting a strong positive outlook on the economy and travel spending, with franchisees highly confident.