Texas

M3, LLC has secured a majority investment from Blackstone Growth, with AAHOA also investing, to accelerate its growth and expand its hotel management software.

CBRE has lowered its U.S. hotel performance forecast for 2024 due to weakening leisure travel and corporate profits but still expects RevPAR growth driven by international tourism and election-related events.

The CBRE August 2024 U.S. Hotels report highlights slowing GDP growth, moderate consumer risks, declining CMBS borrowing rates, and mixed performance in hotel occupancy, RevPAR, and travel metrics.

Choice Hotels missed earnings expectations and lowered RevPAR guidance, but maintained EBITDA guidance and continued significant stock buybacks.

Pebblebrook Hotel Trust increased their 2024 EBITDA and AFFO outlook despite reducing their RevPAR outlook, anticipating a stronger 2025.

A stalking-horse buyer has offered $500 million for the abandoned Oceanwide Plaza in Downtown Los Angeles, which includes a partially built Park Hyatt hotel.

U.S. travel demand is robust across hotel segments, driven by higher-income leisure and business travelers, but lower-income travel is declining, and recovery varies by hotel type and market, with international travel lagging behind domestic recovery.

The Surrey, A Corinthia Hotel's New York City opening marks Corinthia's North American debut with luxury accommodations, exclusive dining, and private residences.

IHG Hotels & Resorts announced the opening of a rebranded voco hotel in Upstate New York and a new Holiday Inn Express & Suites in Asheville, N.C.

Hyatt Hotels Corporation announced the addition of Maison Metier and The Barnett in New Orleans to their portfolio, both expected to join Hyatt's independent collections in 2024 under new branding and management by HRI Hospitality.