IHG Hotels & Resorts and Six Senses announced the signing of Six Senses Telluride, a luxury property with extensive amenities set to open in 2028 in North America's Mountain West Region.
Marriott International has entered a long-term licensing agreement with Sonder Holdings to add over 9,000 rooms to its portfolio under a new "Sonder by Marriott Bonvoy" collection, contributing to a projected 2024 net room growth of 6-6.5%.
ECHO Suites Extended Stay by Wyndham opened its first location in Spartanburg, South Carolina, marking a milestone for the brand with a development pipeline of nearly 270 hotels.
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.
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.
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.
Las Vegas saw a significant tourism and economic boost in 2023, highlighted by a surge in convention attendance, international visitors, and major events like the Las Vegas Grand Prix and the Super Bowl.