Idaho

Multiple hotel companies announced property openings globally, including Peachtree Group receiving USCIS approval for a SpringHill Suites in Utah.

Highgate Hospitality Management is planning to build a new hotel on a 5.42-acre property in Denver, Colorado, near the airport.

The U.S. lodging sector in 2025 is expected to see muted growth with a modest RevPAR increase of 1.5%, driven by higher ADR but constrained by stable occupancy and macroeconomic pressures.

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.

Wyndham Hotels and Decameron have formed an alliance to expand all-inclusive offerings with nine new resorts in Mexico, Panama, and Jamaica, with some joining the Trademark Collection and others joining the Ramada brand.

The Fed Chief made it pretty clear there will be no interest rates lowered for some time and the markets seemed to like the certainty.

Canada’s hotel industry showed lower occupancy but continued growth in ADR, according to CoStar’s January 2024 data.

As 2024 begins to unfold, Accor is continuing to expand the brands within its Luxury & Lifestyle division to meet the world’s accelerating demand for high-end and culturally relevant travel experiences.

Stock market indices showed gains on Friday, with DJIA up by 288 points, Nasdaq up by 212 points, and S&P 500 up by 50 points, while the 10-year treasury yield increased to 4.78%. San Francisco saw a significant increase in weekday occupancy, and STR reported a 66.3% occupancy rate for US hotels in September 2023. Several new hotels and renovations were announced, including Aloft Hotel near Fort Lauderdale, Residence Inn in Vail, and the Union Station Nashville Yards.

Somm Hotel and Spa in Woodinville, Washington, part of Marriott's Autograph Collection, is set to open in the summer of 2025 as part of a $700 million development. Home2 Suites by Hilton Houston/Katy in Texas completed renovations, featuring upgraded guestrooms and amenities. The Balbin Bros. Cigar Factory in Tampa, Florida, is undergoing transformation into a 70-room boutique hotel, aiming to open by March 2025 while preserving its historical value.