Blackstone Agrees to Buy Allegiant's Sunseeker Resort
Blackstone Group agreed to buy the troubled Sunseeker Resort in Port Charlotte, Florida, for $200 million from Allegiant Travel Company. Plus more hotel development news.
Sunseeker Resorts
Jalisco Announces $1 Billion Hotel Development Program
Jalisco announced $1 billion investment for 38 new hotels by 2028, with Hyatt investing $295 million in three Puerto Vallarta properties.
U.S. Hotel Revenue Projected to Grow in 2026 and 2027
CoStar forecasts modest U.S. RevPAR and ADR growth through 2027—with luxury and upper upscale segments leading—despite real RevPAR remaining below 2019 levels.
U.S. Hotel Pipeline Report for Q2 2024
The DJIA rose 99 points while Nasdaq surged 452, the S&P 500 rose 86 points and the 10-year treasury yield was down .03 to 4.11%. Lodging stocks were modestly higher, did much better due to the…
Major Brands Acquiring Key Properties
Apple Hospitality REIT declared a regular monthly cash dividend and a special distribution.
Bluegreen Vacation Holdings' acquisition by Hilton Grand Vacations moved forward with the expiration of the waiting period under the Hart-Scott-Rodino Act.
Several new hotel openings and acquisitions were announced, including AC Hotels by Marriott in Naples, Moxy by Marriott in Houston, IHG's first Garner hotel, and Choice Hotels International's 100th Suburban Studios hotel.