Miami

The Wyndham Orlando Resort on International Drive is set to close on April 30, with potential plans for partial preservation and redevelopment by owner Unicorp National Developments Inc.

Thanks to the shift in Easter in 2024 from March to April, RevPAR was down as a whole – but not in the top 25 markets in the U.S.

Park Hotels exceeded adjusted EBITDA and AFFO estimates and raised their financial guidance, citing optimism in their group and leisure outlook, likely due to recently renovated properties.

A new report points to a resurgence in business travel, with group travel boosting hotels and companies increasingly sending employees on trips, challenging earlier predictions that virtual meetings would replace in-person business interactions permanently.

During the hotel group's earnings season, Hilton's report stood out as the most impressive – despite showing slowing RevPAR growth – due to strong performance in Net Unit Growth and EBITDA flow through.

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.

Europe hostel chain A&O is set to invest €500 million to aid its expansion across Europe. The company is seeking to expand its presence in European city centers.

The market liked this conclusion: both companies' stock prices rose, with Choice Hotels up 6% and Wyndham Hotels 2%, indicating investor relief – or strategic reassessment.