Houston hotels are investing $100M+ ahead of the World Cup, with bookings up 130% and rates up 300% for June-July. Plus, more hotel deal and development news.
Hotel Equities will manage 13 TAJ Hospitality hotels in Lubbock, Texas, expanding its Texas portfolio to 29 properties across the state. Plus, more hotel deal and development news.
For the full year, Choice cut its projection for U.S. RevPAR to decline by between -2% and -3%, worse than a previous range of between 0% and -3%. Plus, more hotel deal and development news.
Marriott closed its acquisition of CitizenM in only three months and will complete the integration in about a month's time, both much faster than the industry average. Plus more hotel news.
Japan's Seibu Holdings will buy Ace Group International for $90M, acquiring the Ace Hotel brand and creative agency Atelier Ace. Plus more hotel deal and development news items.
Activist investor Tarsadia Capital sent a letter to the Board of Directors of Sunstone Hotel Investors calling on them to maximize value for shareholders. Plus, more deal and development news.