U.S. Hotel RevPAR Goes Up
STR reported U.S. lodging data for the week ending August 31, showing a 3.6% rise in RevPAR, with ADR up 1.6% and occupancy up 1.9%. Group RevPAR increased 7.2% on a 7.1% occupancy boost.
Hotel Equities
3 Large Texas Hotels Secure Refinancing
JLL Capital Markets successfully refinanced three major Texas hotels—Sheraton Dallas, Marriott Marquis Houston, and Fairmont Austin—securing significant loans for each property.
Blackstone and AAHOA Invest in M3 Hotel Software
M3, LLC has secured a majority investment from Blackstone Growth, with AAHOA also investing, to accelerate its growth and expand its hotel management software.
Corporate Travel Managers Expect Spending to Increase
Deloitte's 2024 Corporate Travel Report indicates rising corporate travel spending driven by increased prices and trip frequency, with significant growth expected through live events and client-related travel, alongside efforts in cost mitigation and sustainability progress.
North America Guest Satisfaction Rankings Are In
Luxury and upper upscale hotel segments show strong guest satisfaction, while limited-service segments have declined, with The Luxury Collection, Margaritaville Hotels & Resorts, and others ranking highest in their categories.
Choice Hotels Unveils Renovations for Radisson and Radisson Blu
Choice Hotels International is refreshing over 50 properties in its Radisson and Radisson Blu brands with contemporary designs and personalized service, featuring Scandinavian-inspired minimalist styles.
Ritz-Carlton Expands to Mexico’s Caribbean Coast
The Ritz-Carlton brand will make its debut on Mexico's Caribbean coast with The Ritz-Carlton Residences, Riviera Maya, featuring 127 residences, with sales and construction starting this year and the first phase debuting in 2026.
IHG Expands Portfolio in Mexico
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.
U.S. Investors Optimistic About the Hotel Market
The 2024 CBRE Global Hotel Investors Intentions Survey indicates U.S. hotel investors are optimistic, with plans to increase investments, despite challenges like debt servicing and rising costs, favoring urban and leisure markets such as New York City, Miami, Charleston, and Boston.
Marriott Opens Its First Mexican All-Inclusive Luxury Hotel
This is the first Mexican property for Marriott's five-year old all-inclusive luxury push.