Soho House Rejects Takeover Offer
Soho House dissolved its Independent Special Committee after rejecting an offer for strategic transactions, causing discontent among shareholders due to the stock's low trading price.
North America
IHG Expands Portfolio in Mexico
IHG Hotels & Resorts is significantly expanding its luxury and lifestyle portfolio in Mexico, Latin America, and the Caribbean, with multiple new openings planned through 2027, including properties from its Six Senses, InterContinental, Kimpton, Vignette Collection, and Hotel Indigo brands.
U.S. Hotel Profitability Lags Pre-Covid Levels
A new report indicates that U.S. hotel debt maturities, exacerbated by lagging profitability, high interest rates, and rising insurance costs, will drive increased transactions in 2024, especially in top gateway markets.
U.S. Investors Optimistic About the Hotel Market
The 2024 CBRE Global Hotel Investors Intentions Survey indicates U.S. hotel investors are optimistic, with plans to increase investments, despite challenges like debt servicing and rising costs, favoring urban and leisure markets such as New York City, Miami, Charleston, and Boston.
Marriott Opens Its First Mexican All-Inclusive Luxury Hotel
This is the first Mexican property for Marriott's five-year old all-inclusive luxury push.
State of Global Tourism, According to the UN
International tourism nearly reached pre-pandemic levels in early 2024, with notable growth in the Middle East, Europe, and Africa, and a full recovery projected for the year.
Truist Bullish on Wyndham Hotels' Growth and Economic Outlook
Truist is optimistic about Wyndham Hotels' new developments, RevPAR growth, and brand launches, highlighting a strong positive outlook on the economy and travel spending, with franchisees highly confident.
Archipelago Expands Across Mexico and the DR
Archipelago International opened its first office in the Dominican Republic and signed multiple hotel management agreements in the DR and Mexico, adding numerous new properties.
CBRE Expects 1% a Year Hotel Supply Growth Through 2027
In the shorter term, CBRE expects a 2% RevPAR growth in 2024, driven by international tourism and limited supply, despite a weaker first quarter and a reduced forecast from 3%.
Las Vegas' Mirage Hotel and Casino to Close
Hard Rock International will cease operations of The Mirage Hotel & Casino to begin transforming the venue into the Hard Rock Hotel & Casino and Guitar Hotel Las Vegas. The new resort will feature a guitar-shaped hotel nearly 700 feet in height.