Oklahoma

Hotel industry analysts at Baird expressed caution about softening March demand trends, noting that U.S. RevPAR growth is tracking over 200 basis points below initial expectations.

Loews Hotels is undergoing its largest expansion, opening three new Orlando hotels with Comcast’s Universal, adding 2,000 rooms and reaching 11 properties in the area.

Bill Hornbuckle, CEO of MGM Resorts International, was named the national chair of the U.S. Travel Association’s board for a two-year term, succeeding Hilton’s Chris Nassetta.

Dallas leads the U.S. hotel construction pipeline, followed by Atlanta, Nashville, Phoenix, and the Inland Empire, with significant activity in planned projects, early planning, renovations, and new hotel openings nationwide.

Lodging Analytics Research & Consulting forecasts moderate growth in U.S. hotel performance, with rising RevPAR and hotel values through 2025, despite slight margin erosion.

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.

WaterWalk, Wyndham’s 25th brandstands out from other hotel brands in that it lets owners sell a mix of rooms, with about 60% marketed as extended-stay hotel rooms and about 40% marketed as short-term rentals.

IHG Hotels & Resorts announced the opening of a new build Holiday Inn Express & Suites hotel in Arkansas, while Best Western Hotels & Resorts announced the opening of the Best Western Halito Inn in Oklahoma.

Crescent Real Estate acquired the Element Orlando Universal Boulevard hotel, and the Delta Hotel in Wichita Falls, Texas, opened. Various hotel acquisitions and rebranding activities occurred, including the purchase of Hilton-branded hotels in New York, rebranding of properties as Trademark Collection by Wyndham, and the addition of Arlo Williamsburg to the Arlo Hotels portfolio. A $1.5 billion development plan for the Tennessee Titan's domed stadium area was announced, including a 40-story hotel, apartments, and retail spaces, with construction set to begin in 2025.

Truist expects varied 2Q earnings for the hotel sector, with C-Corps' results depending on geography and customer mix. U.S. hotel industry performance in June 2023 showed improvements from the previous month but lower year-over-year changes. RLJ Lodging Trust 's Nashville property joins Hilton's Tapestry Collection after a comprehensive renovation, marking the company's third conversion in 2023.