Pebblebrook has challenged the market value assessments that the city assigned to and used to collect taxes from a group of downtown hotels purchased by the REIT in 2018.
U.S. hotel RevPAR was down by -0.1% year over year in April. The Easter shift, geopolitical/tariff impact, were blamed for the sluggish month. Group RevPAR was down -2%.
U.S. hoteliers expect strong group sales growth by 2025, driven by demand from tech, healthcare, and construction, with resorts seeing the fastest increase despite federal spending concerns.
Choice Hotels beat earnings expectations due to "other revenues," boosted guidance, and repurchased shares, while Accor reported strong Q4 results, announced a major stock buyback, and considered selling its AccorInvest stake.
Ace Hotel/Atelier Ace welcomes brand veteran Chris Penn as its CEO, appoints Mostafa Abdella as COO, and elevates Meriem Soliman to Chief Brand Officer.