Latin America

Kam Sang bought Edition Clocktower for $250 million while Cain acquired Dominick Hotel for $175 million in separate Manhattan deals. Plus, more hotel deal and development news.

Hotel industry executives showed subdued optimism at NYU Conference amid macro uncertainty and flat transaction growth expectations.

Truist analysts said the hotel companies weren’t admitting it, but demand trends had been decelerating before the tariff shock.

Hilton and Marriott are expected to report strong 2Q23 results with international strength as a key driver. Various hotels in different regions are undergoing significant expansions, renovations, and acquisitions, with Hilton announcing a new property in Cancun and Scandic Hotels Group expanding its portfolio in Sweden . Accor is in exclusive negotiations to acquire a majority stake in Potel & Chabot, potentially becoming the sole shareholder of the company.