North America

Lodging stocks dipped despite optimistic analyst forecasts for RevPAR growth and franchise expansion in 2025, highlighting a mixed market sentiment.

Marriott International is expanding its outdoor-focused lodging with the acquisition of Postcard Cabins, aiming to launch a collection in 2025 featuring tiny cabins and unique accommodations near natural destinations.

Fitch Ratings' 2025 hotel sector outlook is neutral, reflecting stability, moderate growth, and varying regional confidence, with steady revenues supported by limited supply and strong business travel momentum.

MCR secured $300 million in refinancing for a 22-hotel portfolio spanning 14 states, replacing $280 million in prior debt through a CMBS transaction with J.P. Morgan and BMO Capital Markets as co-leads.

The U.S. hotel deals market is expected to see steady annual growth of around 10% over the next few years, despite regional variations in activity.

Fontainebleau Miami Beach secured $1.3 billion through a CMBS, mezzanine loan, and equity infusion to refinance $1.8 billion in debt.

Global hotel transactions rose to $42.1 billion in Q3 2024, driven by large deals and robust fundamentals, with further growth expected amid favorable economic conditions.

Transactions in the $10 to $20 million segment are expected to pick up pace as financing becomes more accessible via the commercial mortgage-backed securities market.

Lodging Analytics Research & Consulting forecasts moderate growth in U.S. hotel performance, with rising RevPAR and hotel values through 2025, despite slight margin erosion.

Leisure travel is set to grow in 2025, driven by increased international trips, greater use of travel advisors, and rising interest across demographics.