West Virginia

Wyndham Hotels & Resorts, in partnership with Reside, has launched its new Wyndham Residence brand in the U.S., offering upscale, residence-style accommodations in major cities like Houston and Washington D.C., with plans for expansion across top U.S. markets.

Truist expects hurricanes to boost midscale hotel RevPARs but raise insurance costs, while labor pressures and union demands challenge hotel profitability despite occupancy growth and M&A opportunities.

The DJIA, Nasdaq, and S&P 500 rose on Friday, while Canada's hotel industry saw a slight decline in occupancy in July 2024 after three months of increases.

Hyatt Hotels announced plans to acquire Standard International's brands and affiliates, creating a new lifestyle group led by Amar Lalvani, with a $150 million base purchase and potential additional payments.

Quarterly reports were mostly positive, but the week ended on a down note as hospitality stocks were down across the board.

Wyndham showed strong performance through expense containment and share repurchases, and Accor increased RevPAR, net unit growth, and EBITDA.

The U.S. hotel construction pipeline has reached a 16-month high with significant growth in midscale and economy segments, driven by newer brands and extended-stay projects.

San Francisco’s two largest hotels have lost over $1 billion in value, now worth $553.8 million, prompting a downgrade in bond ratings and a rush to sell before foreclosure.

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.

This is the first Mexican property for Marriott's five-year old all-inclusive luxury push.