Detroit

Hyatt Hotels Corporation announced the addition of Maison Metier and The Barnett in New Orleans to their portfolio, both expected to join Hyatt's independent collections in 2024 under new branding and management by HRI Hospitality.

The U.S. hotel industry showed improved performance in May 2024, with notable increases in occupancy, ADR, and RevPAR, especially in New York City.

The U.S. stock market rose again today and most lodging stocks came along for the ride upward.

The NYU Conference had mixed opinions on its tone and mood, with Barclays finding it muted and Truist noting a lack of extreme bullishness, while discussions on hotel REITs highlighted concerns about investment strategies and the influence of hedge funds.

International tourism nearly reached pre-pandemic levels in early 2024, with notable growth in the Middle East, Europe, and Africa, and a full recovery projected for the year.

Hospitality International's hihotels brand has added eight new properties across five states, encompassing a mix of acquisitions and new constructions.

MCR plans to build two eight-story hotels with a total of 400 rooms and additional parking facilities next to the Hilton Miami Airport Blue Lagoon.

The owners of the CitizenM hotel chain, valued at 2 billion euros five years ago and now expected to double in sale price, are considering selling the rapidly expanded brand with over 40 global locations.

Wells Fargo predicts a stabilization in interest rates in 2024, benefiting hotel sector growth, with a focus on high-end leisure and Asia Pacific markets. Oppenheimer raised the target price for Host Hotels, and Driftwood Capital secured a significant refinancing loan for Hilton Cocoa Beach Oceanfront Hotel. There were key personnel changes in various hotel groups, such as Concord Hospitality and Great Wolf Resorts, indicating a focus on business development and wellness.

Jefferies upgraded Park Hotels to Buy from Hold, reflecting positive changes like the removal of their San Francisco assets. Meanwhile, they downgraded Choice Hotels to Underperform from Hold due to concerns over its acquisition strategy, specifically regarding Wyndham Hotels. Apple Hospitality REIT, Inc. announced the acquisition of the Springhill Suites by Marriott Las Vegas Convention Center for approximately $75 million. Bradford Allen Hospitality acquired two hotel properties in Riverhead, New York, planning significant renovations for both. PEG Companies opened The Moxy in the historic Luhrs Building in downtown Phoenix, Arizona. Hawkeye Hotels commenced construction of a Fairfield Inn & Suites in downtown Spartanburg, South Carolina, targeting a spring 2025 opening.