California

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.

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

Global tourism rebounded strongly in 2024, with international arrivals reaching 98% of pre-pandemic levels, driven by post-pandemic demand, increased air connectivity, and growth in key regions like the Middle East, Europe, and Asia-Pacific.

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.

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

San Francisco's largest hotel complex, Hilton San Francisco Union Square and Parc 55, is nearing a sale after over a year in court-appointed receivership.

Grand Hyatt is rapidly expanding and enhancing its global portfolio, with over 10 new hotels opening by 2027 and extensive renovations across existing properties to meet the evolving needs of luxury travelers.

Deutsche Bank's conference highlighted mixed optimism in the gaming, lodging, and leisure sectors, with discussions on election impacts, leisure demand stabilization, corporate travel growth, M&A opportunities, and cautious investor views on resort acquisitions.

A JLL survey reveals growing optimism in hotel investments, with rising cross-border activity, first-time buyers, and a focus on luxury and extended-stay assets despite challenges from increased capital costs.

STR reported U.S. hotel data for the week ended November 9. U.S. hotel RevPAR fell -3.5%, with occupancy down -3.5%.