Milwaukee Moves Forward on Two Downtown Hotel Projects
JLL reported U.S. hotel deal volume grew 14.4% in Q1 to $5.6 billion, with private equity making up 34% of the buyer pool. Plus, more hotel deal and development news.
South Africa
Service Properties Trust Sells Five Hotels for $47 Million
Service Properties Trust sold 5 hotels with a total of 679 keys located in four states for a combined price of $47 million. Plus, more hotel deal news.
2 Luxury New York City Hotels Are Sold
Kam Sang bought Edition Clocktower for $250 million while Cain acquired Dominick Hotel for $175 million in separate Manhattan deals. Plus, more hotel deal and development news.
Events Drive New Zealand Hotel Revenue Growth
Horwath HTL reported New Zealand hotel market grew 10.7% in RevPAR in September, the highest since December 2023. Plus, more hotel deal and development news.
Hotel REITs See Softer U.S. RevPARs
Marriott plans a dual-branded AC Hotel and Moxy Hotel in Dallas, while other hotel companies announce global openings and renovations.
Wyndham and Hyatt Earnings Tripped Up in New Ways
Wyndham had their typical quarter, but WH did say fighting off CHH is going to cost them about $75 million, while Hyatt gave a late-night press release that stated their 4Q results would be delayed because they have not finalized accounting relating to ALG’s Unlimited Vacation Club.
B of A Securities Increases Target Price on Marriott
DJIA and Nasdaq dropped significantly, 10-year yield surged, and lodging stocks declined.
U.S. hotel industry saw lower occupancy but improved year-over-year comparisons.
Peachtree Group announced multiple hotel acquisitions and new development projects, while other hotels are under renovation and expansion.