Washington State

Four Seasons' long drama with Ty Warner may finally be coming to an end.

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.

WaterWalk, Wyndham’s 25th brandstands out from other hotel brands in that it lets owners sell a mix of rooms, with about 60% marketed as extended-stay hotel rooms and about 40% marketed as short-term rentals.

U.S. hotel performance in February 2024 saw modest revenue gains driven largely by Las Vegas and major events, with luxury and upscale chains leading growth amidst varied demand across other segments.

The owners of the CitizenM hotel chain, valued at 2 billion euros five years ago and now expected to double in sale price, are considering selling the rapidly expanded brand with over 40 global locations.

The Fed Chief made it pretty clear there will be no interest rates lowered for some time and the markets seemed to like the certainty.

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.

Home2 Suites by Hilton announced its newest property, Home2 Suites by Hilton Phoenix Downtown.

CBRE U.S. Hotels State of the Union (October 2023) shows August RevPAR declined by -0.7%, with a -1.7% occupancy drop. Total revenue growth outpaced RevPAR growth in July by 2.5%. U.S. loan origination decreased, and hotel job openings continue to decline. Hotel rates are expected to rise globally in 2024, with potential increases of up to 17.5% in some cities, according to American Express Global Business Travel's Hotel Monitor 2024. The Baird/STR Hotel Stock Index was down -2% in September. Year-to-date, the Hotel Brand sub-index increased by 23%, while the Hotel REIT sub-index decreased by -1.5%.

Somm Hotel and Spa in Woodinville, Washington, part of Marriott's Autograph Collection, is set to open in the summer of 2025 as part of a $700 million development. Home2 Suites by Hilton Houston/Katy in Texas completed renovations, featuring upgraded guestrooms and amenities. The Balbin Bros. Cigar Factory in Tampa, Florida, is undergoing transformation into a 70-room boutique hotel, aiming to open by March 2025 while preserving its historical value.