A new report indicates that U.S. hotel debt maturities, exacerbated by lagging profitability, high interest rates, and rising insurance costs, will drive increased transactions in 2024, especially in top gateway markets.
The Wyndham Orlando Resort on International Drive is set to close on April 30, with potential plans for partial preservation and redevelopment by owner Unicorp National Developments Inc.
Park Hotels exceeded adjusted EBITDA and AFFO estimates and raised their financial guidance, citing optimism in their group and leisure outlook, likely due to recently renovated properties.
The Americas is the only region to show an increase in hotel construction and development activity in the first quarter of 2024, contrasting with declines or slower growth in Europe, Asia Pacific, and the Middle East and Africa.
Las Vegas saw a significant tourism and economic boost in 2023, highlighted by a surge in convention attendance, international visitors, and major events like the Las Vegas Grand Prix and the Super Bowl.