BofA Securities says the lodging sector beat Q1 earnings by about 5% on average, but high expectations muted investor reactions. Plus, more hotel deal and development news.
The Daily Lodging Report turned 30 years old today! Soho House reached an agreement with an investor group led by MCR and its Chairman and CEO Tyler Morse to take SHCO private at $9 a share.
The 1,921-room Hilton Union Square, the city’s largest hotel, and the 1,024-room Parc 55 are expected to be sold to an unidentified buyer. Plus more hotel 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.
Pebblebrook has challenged the market value assessments that the city assigned to and used to collect taxes from a group of downtown hotels purchased by the REIT in 2018.