Virginia

The hotel industry shows mixed signals as some AAHOA members see slowing construction, while CoStar reports a sharp decline in international arrivals.

Hotel industry sees major market gains as Trump reduces tariffs, while various properties announce openings, renovations, and rebranding.

The world's first AI-powered hotel, Otonomus Hotel, featuring 303 suites and cutting-edge amenities, is set to open in Las Vegas in summer 2025 as Growth Holdings’ debut resort.

In 2024, Hilton achieved 7.3% net unit growth by adding nearly 1,000 hotels and strengthening its global pipeline, while expanding its brand portfolio with new lifestyle and luxury offerings worldwide.

Barry Sternlicht is set to revive the Starwood brand through his current hotel management company, SH Hotels & Resorts, rebranding it as Starwood from February.

Aimbridge Hospitality is restructuring its finances by converting $1.1 billion in debt to equity, securing $100 million in new capital, and shifting majority ownership to its first lien lenders, with completion expected in early 2025.

Truist downgraded Playa Hotels & Resorts to Hold, seeing an increased likelihood of a Hyatt acquisition that could boost Hyatt’s share price as PLYA nears its $13 target.

In November 2024, Canada’s hotel industry experienced a significant boost, driven by Taylor Swift’s Eras Tour and a favorable calendar shift, with notable occupancy and rate increases in Toronto and Vancouver.

Casago and Vacasa plan to merge, backed by Roofstock and existing Vacasa investors with completion expected by early 2025.

The U.S. hotel industry saw slight year-over-year performance improvements in November 2024, with New York leading occupancy gains among major markets.