Orlando

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

A report from last week's Lodging Conference points to a surge in hotel transactions due to maturing loans, growing construction, and renovation projects, despite labor challenges and softening RevPAR trends.

Truist expects hurricanes to boost midscale hotel RevPARs but raise insurance costs, while labor pressures and union demands challenge hotel profitability despite occupancy growth and M&A opportunities.

International tourism in the first seven months of 2024 grew by 11% compared to 2023, nearing 2019 levels, with all regions showing strong recovery, led by the Middle East, and many countries exceeding pre-pandemic arrival numbers and receipts.

Analysts expect the Fed's interest rate cuts to boost hotel REIT earnings, with Ashford Hospitality Trust and Braemar Hotel Trust being the biggest beneficiaries.

Wells Fargo adjusted ratings and price targets for several hotel stocks, upgrading some while cutting price targets for others.

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

Truist reports slight downward revisions in U.S. hotel booking and pricing trends for 3Q and 4Q, with modest growth expected in 2025, but no signs of a sudden pullback or near-term upside for RevPAR.

JLL Capital Markets successfully refinanced three major Texas hotels—Sheraton Dallas, Marriott Marquis Houston, and Fairmont Austin—securing significant loans for each property.

JLL reports a significant rise in large hotel transactions, particularly in luxury markets, with 2024 seeing a 59% increase in single-asset deals over $200 million, totaling $4 billion.