IHG Hotels & Resorts

IHG Hotels & Resorts reported mixed results, with global RevPAR up 1.5% despite a 10% decline in China, and announced the end of its licensing deal with The Venetian and The Palazzo in 2025.

Marriott's St. Regis brand has opened its 60th global property, The St. Regis on the Bund, Shanghai, offering luxury accommodations, butler service, and multiple dining and wellness amenities.

A report from last week's Lodging Conference points to a surge in hotel transactions due to maturing loans, growing construction, and renovation projects, despite labor challenges and softening RevPAR trends.

Hoshino Resorts is set to open its first new-build hotel in the United States by 2028, bringing a 40-room luxury resort to the small town of Sharon Springs, New York, marking a significant expansion for the renowned Asian hotel operator.

The Philippines' Department of Tourism plans to add over 120,000 hotel rooms by 2028 to meet rising tourism demand, aiming for 456,000 rooms to accommodate projected arrivals of 11.5 million tourists.

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.

Choice Hotels expanded its upscale Cambria brand by introducing a conversion model that helped overcome financing challenges and spurred growth, with 74 properties now open and 62 more in development.

Marriott International is expanding its City Express by Marriott brand into the U.S. and Canada, entering the affordable midscale segment.

CBRE’s 2024 Global Hotels Midyear Outlook highlights modest RevPAR growth in the U.S., strong resilience in Northern Latin America, slower growth in Europe with luxury outperforming, rising occupancy in the Middle East, and increased air travel boosting Asia Pacific markets.

W Hollywood, reimagined by Marriott International, Trinity Investments, and Oaktree Capital, now offers redesigned amenities including 319 rooms, dining options, a rooftop venue, a revamped gym, and extensive event spaces.