Pebblebrook has challenged the market value assessments that the city assigned to and used to collect taxes from a group of downtown hotels purchased by the REIT in 2018.
Hotel stocks face pressure amid analyst downgrades, mixed industry performance data, and various property transactions. Companies like Hyatt, Gencom, and Ashford Trust announced changes.
U.S. hoteliers expect strong group sales growth by 2025, driven by demand from tech, healthcare, and construction, with resorts seeing the fastest increase despite federal spending concerns.
Minor International Plc plans to expand in the U.S. with an Anantara hotel by early next year, driven by the surge in bookings at its Thailand properties following The White Lotus exposure.
Loews Hotels is undergoing its largest expansion, opening three new Orlando hotels with Comcast’s Universal, adding 2,000 rooms and reaching 11 properties in the area.