International tourism nearly reached pre-pandemic levels in early 2024, with notable growth in the Middle East, Europe, and Africa, and a full recovery projected for the year.
Truist is optimistic about Wyndham Hotels' new developments, RevPAR growth, and brand launches, highlighting a strong positive outlook on the economy and travel spending, with franchisees highly confident.
Archipelago International opened its first office in the Dominican Republic and signed multiple hotel management agreements in the DR and Mexico, adding numerous new properties.
Hard Rock International will cease operations of The Mirage Hotel & Casino to begin transforming the venue into the Hard Rock Hotel & Casino and Guitar Hotel Las Vegas. The new resort will feature a guitar-shaped hotel nearly 700 feet in height.
Wyndham Hotels and Decameron have formed an alliance to expand all-inclusive offerings with nine new resorts in Mexico, Panama, and Jamaica, with some joining the Trademark Collection and others joining the Ramada brand.
Marriott Vacations exceeded first quarter 2024 expectations, with steady EBITDA performance and a large share buyback, despite underwhelming results in its core Vacation Ownership segment.
Marriott International expands its presence in Seoul while luxury brands like Aman Group, Rosewood Hotels & Resorts, and IHG Hotels & Resorts are also entering the South Korean market.