Colombia

Marriott opened its first StudioRes hotel in Fort Myers, marking the company's entry into midscale extended stay lodging.

Crestline Hotels & Resorts takes over management of the AC Hotel Seattle Downtown as lodging companies expand portfolios.

The world's first AI-powered hotel, Otonomus Hotel, featuring 303 suites and cutting-edge amenities, is set to open in Las Vegas in summer 2025 as Growth Holdings’ debut resort.

Omni Atlanta Hotel announced renovations, while Omni Hotels & Resorts secured approval for a $575 million headquarters hotel in New Orleans.

Nautic Partners acquired Davidson Hospitality Group from KSL Capital Partners, with KSL remaining involved as a manager, marking Nautic's entry into hotel management ownership.

Hilton plans to exceed 300 hotels in the Caribbean and Latin America within three years, expanding its presence significantly in countries like Argentina, Peru, Colombia, Costa Rica, Mexico, the Dominican Republic, and Brazil, while introducing new brands and entering new markets.

Marriott International announced a year of robust room signings and additions across the Caribbean and Latin America in 2023. The Company nearly doubled its number of organic deal signings in the region versus the prior year.

Choice Hotels has urged Wyndham Hotels to consider a merger, but Wyndham has firmly declined any interest in the proposal. The chairman of Wyndham revealed they almost acquired Choice Hotels 20 years ago. The U.S. construction pipeline shows growth, with over 5,700 projects and 672,000 rooms, driven by a strong upper midscale chain scale presence. Renovation and conversion projects are on the rise, and new hotel openings are expected to increase in the coming years. Several hotel and resort projects are underway, including Westin Washington, DC Downtown, Opry Entertainment Group's renovation in Austin, Four Seasons expanding its Private Retreats collection, and Tommy Bahama's debut resort in California. Additionally, new developments in Florida, Rhode Island, and Indiana are on the horizon.

Hotel industry news: Renovations, expansions, and openings across various cities, states, and countries. Notable updates include the completion of a multi-million-dollar renovation at The Westin Savannah Harbor Golf Resort & Spa in Georgia. Exciting developments include the opening of the first fully Pixar-themed hotel, Pixar Place Hotel, in Anaheim, California, and the debut of Six Senses Crans-Montana in Switzerland.

The DJIA rose 701 points on Friday while Nasdaq was up 264, the S&P 500 rose 87 points and the 10 year treasury yield was down .15 to 3.57% Braemar Hotels & Resorts Inc. expects to report occupancy of approximately 64% for the fourth quarter of 2022 with an ADR of approximately $469 resulting in RevPAR of approximately $301. Ashford Hospitality Trust, Inc. expects to report occupancy of approximately 68% for the fourth quarter of 2022 with an ADR of approximately $175 resulting in RevPAR of approximately $118.