Arizona

North America

Ritz-Carlton Expands to Mexico’s Caribbean Coast

The Ritz-Carlton brand will make its debut on Mexico’s Caribbean coast with The Ritz-Carlton Residences, Riviera Maya, featuring 127 residences, with sales and construction starting this year and the first phase debuting in 2026.
North America

JP Morgan States Its Q1 Hotel Performance Expectations

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.
North America

Hilton Taking Over NoMad Brand

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.
North America

Choice Hotels Addresses Failed Wyndham Merger

Choice Hotels commented on their Wyndham hostile takeover implosion and said it was challenged by a ‘difficult’ administration and a regulatory body that Choice said was ignorant of hotel industry pricing structures, among other reasons.
North America

MCR Refinances Its Hotel Portfolio

MCR has refinanced a 16-hotel portfolio for $333 million, generating $51 million of net proceeds. In less than three years, MCR doubled the portfolio’s new operating income, increasing it from $15 million at acquisition to $36 million.
North America

Vancouver Leads Canada’s Hotel Boom

Canada is seeing a surge of hotel construction in major cities, with Vancouver leading the way in new building applications. It is now seen as the most attractive bet by analysts because it leads the way in hotel profits and occupancy, which was almost 80% in October.
North America

Nearly 75% of Americans Plan to Maintain or Increase Hotel Stays in 2024

Almost three quarters of Americans plan to either maintain or increase their number of hotel stays in 2024 compared to 2023, and hotels remain the top lodging choice for likely travelers, according to a survey commissioned by the American Hotel & Lodging Association.