Sheraton Hotels & Resorts

Choice Hotels International is expanding its portfolio of solutions for its extended-stay hotel conversions with the introduction of Lobby in a Box, a modular design package.

Hyatt Hotels Corporation is expanding its luxury and lifestyle hotel portfolio with over 20 recent and planned openings across the U.S., Canada, Latin America, and the Caribbean through 2025.

citizenM has opened its second Boston property, citizenM Boston Back Bay, a 15-story hotel with 399 guestrooms, curated artwork, and a rooftop bar, making it the company's largest hotel within the Lyrik development.

Strong passenger demand, in-person events, and positive industry momentum are driving business travel growth, with global passenger demand up 9.1%, hotel occupancy nearing 70%, and steady travel demand expected through the next quarter.

JLL Capital Markets successfully refinanced three major Texas hotels—Sheraton Dallas, Marriott Marquis Houston, and Fairmont Austin—securing significant loans for each property.

In July 2024, the U.S. hotel industry saw flat year-over-year performance, with Oahu Island leading in key metrics, while Phoenix and New Orleans had the lowest occupancy rates.

The majority of projects are concentrated in the upper midscale and upscale segments, which account for 69% of the projects and 65% of the rooms in the pipeline. This focus on mid-to-high-end properties suggests a market shift toward catering to more affluent travelers.

Key events included DiamondRock Hospitality's upgrade, Hyatt and Apple Hospitality lowering guidance, and IHG reporting strong new room signings despite challenges in China.

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.

Hilton's Doubletree by Hilton brand has surpassed 100 properties in the Asia Pacific region, with significant expansions in Indonesia, Japan, India, and China, and plans for nearly 80 more properties to support their goal of exceeding 1,000 hotels in the region next year.