Choice Hotels Lays off Corporate Staff
Skift Take
- B.Riley Securities downgraded Ashford Hospitality Trust. US hotel RevPAR increased by 6.3%. Innisfree Hotels acquired Hampton Inn in Florida; Apple Hospitality REIT bought Embassy Suites in Utah. Quality Inn in Cincinnati to become a senior living facility.
- Ranchhod LLC acquired Country Inn & Suites in North Carolina. JMA Ventures and Machete Group developing a mixed-use project in Orlando. Prospera Hotel plans a new hotel in Seattle. The Charles Hotel in Massachusetts updated suites and dining areas. West Baden Hotel in Indiana undergoing roof repair.
- Park Hotel in Ireland sold to Bryan Meehan. Como Hotels & Resorts opening new resort in Italy. Host AB sold a majority stake in Swedish hotels. Marriott introduced a new design for Courtyard in Berlin. The Standard International launching The StandardX in Melbourne, Australia.
B.Riley Securities cut their rating on Ashford Hospitality Trust to $2.50 from $3. They maintained their Neutral rating.
STR reported US lodging data for the week ended 11/18. US hotel RevPAR was up 6.3% for the week. Rates were up 7%, offsetting the -0.4% drop in occupancy. Group RevPAR was up 17.7% for the week.
Innisfree Hotels has completed the acquisition of the Hampton Inn & Suites by Hilton in St. Augustine-Vilano Beach, Florida, marking the company’s first hotel in the St. Augustine area. The 94-room property features EV chargers, an outdoor pool, a fitness center, public beach access, a meeting room, and a retail shop. Innisfree Hotels plans to make improvements throughout the property in 2024. A current renovation underway on the beach access area will add a pavilion for events, new restrooms, showers, and much more.
Apple Hospitality REIT, Inc. completed the acquisition of th
