Toronto

The U.S. hotel industry showed improved performance in May 2024, with notable increases in occupancy, ADR, and RevPAR, especially in New York City.

Two years after buying the Old Post Office building from the Trump Organization, owner CGI has defaulted on its loan payments.

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.

Wyndham Hotels & Resorts' first quarter results exceeded expectations, with stock buybacks increasing despite a hostile bid from Choice Hotels, maintaining a record growth pipeline for the 15th consecutive quarter.

Hilton's expansion in Canada includes nearly 20 deals signed in 2023, with plans to introduce Spark by Hilton and Motto by Hilton in 2024 – aiming to surpass 200 hotels.

Marriott International announced a year of robust room signings and additions across the Caribbean and Latin America in 2023. The Company nearly doubled its number of organic deal signings in the region versus the prior year.

Canada’s hotel industry showed lower occupancy but continued growth in ADR, according to CoStar’s January 2024 data.

The stock market being as ugly as NJ and NY weather this morning probably had a lot more to do with Marriott’s outsized decline than the actual earnings report.

Hospitality Ventures Management added 15 new hotels in 2023 to its portfolio of select-service, full-service and resort properties. Most of these additions are Marriott, Hilton, and Hyatt brands.

Hilton said they ended 2023 with the strongest development quarter in its history while Marriott International, Inc. announced the company’s record year of global signings with 52% more organic rooms signed in 2023 than the previous year.