Hotels Face Profit Squeeze Despite Revenue Growth
Hotel industry profit per room remains at 90% of 2019 levels despite rising guest spending, due to increased operating costs and wages.
Canada
Hilton Cuts Ties With Franchise After DHS Booking Controversy
Hilton removed a Minnesota Hampton Inn from its system after videos showed the franchise refusing bookings from DHS and ICE agents. Plus, hotel deal and development news.
Gencom Buys Back Majority Stake in Coconut Grove Ritz-Carlton
Gencom has reacquired a majority interest in the 115-key The Ritz-Carlton Coconut Grove situated in Miami, Florida. Plus, more hotel deal and development news.
San Francisco Hotels Expect Super Bowl Boost
Peachtree Group announced the grand opening of Home2 Suites by Hilton in Ashburn, Virginia. Plus, more hotel deal and development news.
Waldorf Astoria New York Officially Opens
The Waldorf Astoria New York has officially opened following an unprecedented restoration. Plus, more hotel deal and development news.
Parc 55 and Hilton San Francisco Union Square Sell for $408 Million
Newbond Holdings and Conversant Capital have closed on the purchase of the Parc 55 and Hilton San Francisco Union Square for $408 million. Plus, more hotel deal news.
Honolulu Hotel Site Sold in $510 Million Deal
The land under the iconic Royal Hawaiian Hotel in Waikiki has been sold for $510 million. Plus, more hotel deal and development news.
Peachtree Group Hotel Portfolio Exceeds $2 Billion
Peachtree Group announced that its hotel development portfolio has exceeded $2 billion nationwide. Plus other hotel deal news.
Hotel Opens in London with 1,000 Sleeping Capsules
Zedwell has opened in Piccadilly in London with nearly 1,000 individual sleeping capsules spread over five floors. Plus, more hotel news.
Canada’s Hotel Industry Is Booming
Canada’s hotel RevPAR exceeded C$200 for the first time on record in August, with ADR up 6.1%. Plus, other hotel deal and development news.