North America

Alchemy announced the sale of the La Quinta Inn & Suites by Wyndham Downtown Chicago, a 230-room hotel in Chicago's Loop. Plus, more hotel deal and development news.

Affiliates of Lodging Advisory Group sold a 16-hotel, 1,775-room, five-stay Extended Stay America portfolio. Plus, more hotel deal and development news.

Braemar plans to terminate its advisory agreement with Ashford and create its own REIT management team. Plus, hotel development news.

The federal government sold Washington, D.C.,'s former Old Post Office building, now a Waldorf Astoria hotel, to BDT & MSD Partners. Plus, more hotel deal and development news.

Marriott International has formally entered into a joint venture with the Leali family, founders of Lefay. Plus, more hotel deal and development news.

CoStar expects demand growth to continue across all price points, with luxury outperforming and the high-end customer showing no pushback on higher ADRs. Plus, more hotel deal and development news.

Jefferies described its NYU/NAREIT meetings as being among the most constructive in recent memory. Plus, other hotel deal and development news.

Colliers expects the overall US lodging demand to grow at 1.3%, mostly on pricing power rather than occupancy. Plus, other hotel deal and development news.

A $19 million construction project has started on the AC Hotel by Marriott CityCentre Houston. Plus, more hotel deal and development news.

Lots of enthusiasm for hotel development at the NYU IHIF conference. Plus, other hotel development news.