New Jersey

The U.S. hotel industry saw slight year-over-year performance improvements in November 2024, with New York leading occupancy gains among major markets.

Ashford Hospitality Trust introduced the “GRO AHT” initiative to cut overhead, boost revenue, and enhance operational efficiency, thereby driving EBITDA growth and improving shareholder value.

Transactions in the $10 to $20 million segment are expected to pick up pace as financing becomes more accessible via the commercial mortgage-backed securities market.

Wyndham Hotels & Resorts, in partnership with Reside, has launched its new Wyndham Residence brand in the U.S., offering upscale, residence-style accommodations in major cities like Houston and Washington D.C., with plans for expansion across top U.S. markets.

Hotel rates in the top U.S. markets have risen significantly, with higher-end hotels raising prices the most, affecting travelers' choices on destinations and trip duration.

Jefferies notes that lodging stocks tied to moderate to lower-end brands are outperforming due to economic stability, while higher-end brands are underperforming amid slower leisure travel and delayed interest rate cuts.

About 400 workers at four Boston hotels began a three-day strike on Thursday. They're seeking higher wages and staffing levels.

The Privatization Commission board of Pakistan could not decide on the mode of privatizing the Roosevelt Hotel in New York, with members divided between leasing it for 99 years or developing it through a joint venture.

Club Med announced renovations at its Cancun and Punta Cana resorts and plans for a new luxury resort in Oman opening in 2028.

CBRE has lowered its U.S. hotel performance forecast for 2024 due to weakening leisure travel and corporate profits but still expects RevPAR growth driven by international tourism and election-related events.