South Dakota

PwC predicts hotel performance for the year. Plus lots of news in Nashville, Kansas, and other hotel development markets.

DoubleTree by Hilton has added 40 properties in the past year, including in Nice, Laos, the Azores Islands, and Malta. Meanwhile, Canada's hotel industry reported mixed year-over-year performance in April, plus other hotel news.

CBRE's April 2025 report shows short-term rentals gaining market share as Google travel searches decline, suggesting potential slowdown in 2025 travel demand.

Hyatt improves on the value of its World of Hyatt loyalty program with the addition of two iconic Las Vegas properties.

Hilton is dramatically expanding its portfolio of luxury hotel experiences with the addition of nearly 400 boutique properties from the Small Luxury Hotels of the World collection.

IHG Hotels & Resorts is significantly expanding its luxury and lifestyle portfolio in Mexico, Latin America, and the Caribbean, with multiple new openings planned through 2027, including properties from its Six Senses, InterContinental, Kimpton, Vignette Collection, and Hotel Indigo brands.

CBRE anticipates continued growth in the U.S. hotel industry in 2024, with a 3% RevPAR increase driven by recovery in international travel and strong segments performance, amidst challenges of increasing operational costs and pressure on profit margins.

Deutsche Bank's conference highlighted mixed optimism in the lodging and gaming sectors, with expectations of growth driven by international markets. Revised forecasts for the U.S. hotel industry in 2023 indicate slight adjustments in occupancy, ADR, and RevPAR predictions. The sector saw various activities, including MHG's acquisition of Marriott West Palm Beach Airport, 3H Group's plans for a new Hilton in Florida, and the opening of a new Holiday Inn Express in Arizona. International expansions and renovations were also notable, with new properties and rebranding efforts in several countries. Valencia Hotel Group rebrands to Valencia Hotel Collection, marking its 20th anniversary with leadership restructuring and expansion plans. Libertyland USA, a mixed-use development, is set to open in South Dakota by 2026, featuring an indoor waterpark and other amenities. Agora Realty & Management acquires a 73-acre site in Las Vegas for mixed-use development.

Earnings reports from various hotel and hospitality companies have mixed results, with Marriott International and Hyatt facing disappointment, while Park Hotels, Chatham Lodging Trust, Host Hotels, RLJ Lodging Trust, and Summit Hotel Properties pleased investors. Hyatt Hotels plans to double its brand footprint in Canada with 23 new hotels by 2026, including airport locations and Hyatt Centric and Hyatt House properties. Various hotel acquisitions, openings, and renovations are announced, including the launch of Pendry Tampa and Pendry Residences Tampa, and the renovation of L'Ermitage Beverly Hills. Selina Hospitality faces financial challenges and seeks to restructure its debt.

Heading into the upcoming 1Q earnings season, JP Morgan said they expect relative upside in 1Q23 RevPAR results and, for the C-Corps, at least in-line net rooms growth with both operating metrics benefiting from improvements in China. A record number of loyalty program members should help hotel brands lower their customer acquisition costs, increased direct-to-consumer engagement and offset any occupancy shortfalls during an economic downturn. Corporate travel spending is tracking toward full recovery to 2019 levels by 2024 or 2025 , but higher costs and climate concerns will keep trip volumes smaller than pre-pandemic levels in real terms.