Brookfield Buys Generator's European Operations for €776 Million
Brookfield Asset Management has acquired the Generator Hostels' European brand and hotels for €776 million from Queensgate Investments.
Bermuda
Lodging Stocks Rebound After President Trump Pulls Back on Tariffs
Hotel industry sees major market gains as Trump reduces tariffs, while various properties announce openings, renovations, and rebranding.
Regent Hotels Returns to the U.S.
The Regent Santa Monica Beach opened on October 1 as Regent's first U.S. hotel since IHG's 2018 acquisition, following a $150 million renovation.
Travel + Leisure Finalizes Accor Vacation Club Acquisition
Travel + Leisure Co. has closed the acquisition of the vacation ownership business of Accor. The acquisition is expected to be immediately accretive to Travel + Leisure Co. earnings.
The U.S. Hotel Pipeline at the End of Q3 2023
Top U.S. hotel construction markets in Q3 2023: Dallas, Atlanta, Nashville, Phoenix, and the Inland Empire lead in the number of projects and rooms.
Hotel renovation and conversion pipeline activity remains strong with 1,912 hotels and 285,568 rooms currently undergoing renovations.
Notable openings and developments include the Candlewood Extended Stay Suites in Kennesaw, Avenue Hotels & Residences in Coral Gables, Hotel Lucine in Galveston, and Radisson RED Helsinki.
Wells Fargo Changes Lodging Coverage
The DJIA fell 184 points, Nasdaq was down 124, the S&P 500 was down 27 points and the 10-year treasury yield was up .08 to 3.11%.
Wells Fargo made a few changes to their coverage of lodging names . They cut their ratings on Hersha Hospitality, DiamondRock Hospitality and Pebblebrook Hotel Trust to Equal Weight from the previous Overweight ratings
Four Seasons Hotels and Resorts unveiled its new brand creative platform, Luxury Is Our Love Language , celebrating the brand’s unique and energetic perspective on the definition of luxury.