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North America
Choice Hotels’ Latest Step in Its Quest to Acquire Wyndham
Barron’s recommended investing in travel stocks like Hilton and Marriott for business travel and Choice Hotels is still planning a takeover of Wyndham Hotels & Resorts. There is a new distribution agreement between Choice Hotels EMEA and Sercotel, the potential sale of Travelodge hotels by LXI REIT, and new hotel developments and refinancing deals in the UK and Europe. Significant strategic actions in the hotel industry include Choice Hotels’ intent to nominate directors to Wyndham Hotels & Resorts’ board amidst an $8 billion takeover battle. -
North America
Vancouver’s Occupancy Levels Lead Canadian Rivals
Hotel industry updates: Canadian hotel RevPAR exceeds C$100 for third consecutive month, with Manitoba and Vancouver leading in occupancy rates. Renovations and expansions: Knoxville, Tennessee plans to add 350 hotel rooms, while a $12 million extended-stay hotel is set to open in Maryland Heights, Missouri. Company announcements: Hyatt Place Melbourne Airport opens in Florida, while LVMH scraps luxury hotel plans in Beverly Hills.