Miami

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

IHG Hotels & Resorts is significantly expanding its luxury and lifestyle portfolio in Mexico, Latin America, and the Caribbean, with multiple new openings planned through 2027, including properties from its Six Senses, InterContinental, Kimpton, Vignette Collection, and Hotel Indigo brands.

A new report indicates that U.S. hotel debt maturities, exacerbated by lagging profitability, high interest rates, and rising insurance costs, will drive increased transactions in 2024, especially in top gateway markets.

The 2024 CBRE Global Hotel Investors Intentions Survey indicates U.S. hotel investors are optimistic, with plans to increase investments, despite challenges like debt servicing and rising costs, favoring urban and leisure markets such as New York City, Miami, Charleston, and Boston.

Two years after buying the Old Post Office building from the Trump Organization, owner CGI has defaulted on its loan payments.

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.