Westin Hotels & Resorts

Melbourne's hotel performance in October surged due to concerts by Olivia Rodrigo and Coldplay, the Melbourne Marathon, and Melbourne Fashion Week, with occupancy, ADR, and RevPAR reaching record highs.

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.

Thailand aims to invest $2.86 billion to double passenger capacity at six major airports to 246.5 million by 2032 to support tourism growth.

Baird predicts short-term negative impacts on hotel revenues from recent hurricanes but expects a boost in the intermediate term due to FEMA, insurance, and clean-up crew spending, especially benefiting select service and extended-stay hotels

Choice Hotels expanded its upscale Cambria brand by introducing a conversion model that helped overcome financing challenges and spurred growth, with 74 properties now open and 62 more in development.

W Hollywood, reimagined by Marriott International, Trinity Investments, and Oaktree Capital, now offers redesigned amenities including 319 rooms, dining options, a rooftop venue, a revamped gym, and extensive event spaces.

India is poised to lead Asia Pacific's hotel market in 2024, with record-breaking hotel investments and signings, particularly in Tier-2 cities.

The Regent Santa Monica Beach opened on October 1 as Regent's first U.S. hotel since IHG's 2018 acquisition, following a $150 million renovation.

citizenM has opened its second Boston property, citizenM Boston Back Bay, a 15-story hotel with 399 guestrooms, curated artwork, and a rooftop bar, making it the company's largest hotel within the Lyrik development.

The Hotel Management Contract Survey 2024 by JLL and Baker McKenzie found that the average term of hotel management agreements in Asia Pacific increased to 17.4 years, with varying durations by market, declining base fees, rising sales and marketing fees, and a growing focus on performance-based incentive fees and termination provisions.