Nashville

Sonesta International Hotels Corporation signed 30 new franchise agreements across seven of its brands in Q3 2024.

Choice Hotels International is expanding its portfolio of solutions for its extended-stay hotel conversions with the introduction of Lobby in a Box, a modular design package.

Hyatt Hotels Corporation is expanding its luxury and lifestyle hotel portfolio with over 20 recent and planned openings across the U.S., Canada, Latin America, and the Caribbean through 2025.

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

Key events included DiamondRock Hospitality's upgrade, Hyatt and Apple Hospitality lowering guidance, and IHG reporting strong new room signings despite challenges in China.

Wyndham showed strong performance through expense containment and share repurchases, and Accor increased RevPAR, net unit growth, and EBITDA.

U.S. travel demand is robust across hotel segments, driven by higher-income leisure and business travelers, but lower-income travel is declining, and recovery varies by hotel type and market, with international travel lagging behind domestic recovery.

Marriott unveils renovations at Courtyard by Marriott Nashville Downtown and new Palmetto Marriott Resort & Spa, while Kimpton celebrates the grand opening of its first hotel in Budapest.

ECHO Suites Extended Stay by Wyndham opened its first location in Spartanburg, South Carolina, marking a milestone for the brand with a development pipeline of nearly 270 hotels.

The U.S. hotel industry showed improved performance in May 2024, with notable increases in occupancy, ADR, and RevPAR, especially in New York City.