Las Vegas

The U.S. hotel industry is experiencing steady growth, with construction volumes rising for seven consecutive months, especially in upscale and luxury segments.

A report from last week's Lodging Conference points to a surge in hotel transactions due to maturing loans, growing construction, and renovation projects, despite labor challenges and softening RevPAR trends.

International tourism in the first seven months of 2024 grew by 11% compared to 2023, nearing 2019 levels, with all regions showing strong recovery, led by the Middle East, and many countries exceeding pre-pandemic arrival numbers and receipts.

Analysts expect the Fed's interest rate cuts to boost hotel REIT earnings, with Ashford Hospitality Trust and Braemar Hotel Trust being the biggest beneficiaries.

Hotel construction in Los Angeles has significantly declined, with many projects facing foreclosure or bankruptcy, and financing difficulties limiting new developments.

JLL reports a significant rise in large hotel transactions, particularly in luxury markets, with 2024 seeing a 59% increase in single-asset deals over $200 million, totaling $4 billion.

The DJIA, Nasdaq, and S&P 500 rose on Friday, while Canada's hotel industry saw a slight decline in occupancy in July 2024 after three months of increases.

M3, LLC has secured a majority investment from Blackstone Growth, with AAHOA also investing, to accelerate its growth and expand its hotel management software.

CBRE has lowered its U.S. hotel performance forecast for 2024 due to weakening leisure travel and corporate profits but still expects RevPAR growth driven by international tourism and election-related events.

A stalking-horse buyer has offered $500 million for the abandoned Oceanwide Plaza in Downtown Los Angeles, which includes a partially built Park Hyatt hotel.