Chattanooga

After a week mostly spent on vacation, DLR returns with everything you need to know about the lodging industry before the next week starts.

As of November 11, 2023, 79% of markets showed growth in Revenue Per Available Room (RevPAR) compared to 2019, with leadership positions shifting from Europe to other regions as the Northern Hemisphere approaches winter. New York City led U.S. hotel sales in the last three months with transactions totaling $1.35 billion, despite a significant decrease in overall disclosed hotel transaction volume in 2023 compared to 2022. Several key hotel developments and acquisitions include KSL Capital Partners acquiring Hersha Hospitality Trust, the opening of the avid hotel Chattanooga South - Ringgold, and proposed sales like the Hyatt Place Pittsburgh Airport hotel.

B of A Securities gives IHG Hotels & Resorts a Buy rating. Sonder announces a 1-for-20 reverse stock split. Hyatt plans to expand with over 30 new hotels in the Americas by 2025, emphasizing luxury, resort, and lifestyle rooms. Miraval Resorts unveils its spa after a $60 million renovation. Raffles Boston and The Fontainebleau Las Vegas announce their openings.