North America

NoMad's Las Vegas property will be left behind as new owner Hilton focuses on other properties currently – and in the future – of the brand.

The Americas is the only region to show an increase in hotel construction and development activity in the first quarter of 2024, contrasting with declines or slower growth in Europe, Asia Pacific, and the Middle East and Africa.

JP Morgan forecasts mixed 1Q24 results for the lodging sector, with slow RevPAR growth, strong net rooms growth, and moderating pipeline expansion, recommending selectiveness due to varied performance across companies.

The Camino Real hotel chain plans to spend three billion pesos on remodeling and technology upgrades at its properties across several cities in Mexico.

Las Vegas saw a significant tourism and economic boost in 2023, highlighted by a surge in convention attendance, international visitors, and major events like the Las Vegas Grand Prix and the Super Bowl.

Selina Hospitality issued an update, emphasizing management's confidence through executive stock conversions and alignment with shareholders, clarifying that insider stock sales were automatic transactions for tax purposes, not discretionary market sales.

Hilton's expansion in Canada includes nearly 20 deals signed in 2023, with plans to introduce Spark by Hilton and Motto by Hilton in 2024 – aiming to surpass 200 hotels.

Lodging stocks and the broader market traded and closed higher on Friday, but Selina decided to go its own way and closed at a new all-time low.

The World Travel & Tourism Council predicts 2024 will be a record year for the sector, with an economic contribution expected to hit $11.1 trillion, indicating robust growth and significant job creation.

Hilton acquires a majority stake in Sydell Group to globally expand the NoMad Hotels brand, with plans for up to 100 properties and integration into Hilton's commercial platforms, while NoMad Las Vegas will rebrand, addressing Hilton's gap in the luxury market.