Wheelock Street Capital

Wheelock Street may acquire the $458M Historic Cavalier resort in Virginia Beach, as Moon Palace opens 2,171 suites in Punta Cana. Plus, more hotel deal and development news.

Deutsche Bank's conference highlighted mixed optimism in the gaming, lodging, and leisure sectors, with discussions on election impacts, leisure demand stabilization, corporate travel growth, M&A opportunities, and cautious investor views on resort acquisitions.

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

STR reported U.S. lodging data for the week ending August 31, showing a 3.6% rise in RevPAR, with ADR up 1.6% and occupancy up 1.9%. Group RevPAR increased 7.2% on a 7.1% occupancy boost.