Illinois

Virgin Hotels has sold its 250-room hotel in Chicago to a firm specializing in converting properties into timeshare investments. Plus more hotel deals and development news.

Hilton and Travel + Leisure kicked off the industry’s earnings season.

Abound by Marriott Vacations exchange members now gain access to more than 8,000 Marriott hotels worldwide.

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.

Marriott International, Inc. announced the global launch of its new collection brand for the midscale and upscale lodging segments - Series by Marriott. Meanwhile, Wyndham had a flurry of announcements at its customer conference.

The hotel industry shows mixed signals as some AAHOA members see slowing construction, while CoStar reports a sharp decline in international arrivals.

Highgate Hospitality Management is planning to build a new hotel on a 5.42-acre property in Denver, Colorado, near the airport.

Hotel stocks face pressure amid analyst downgrades, mixed industry performance data, and various property transactions. Companies like Hyatt, Gencom, and Ashford Trust announced changes.

The ALIS Conference reflected cautious optimism about the hotel industry's future, with hopes for policy changes, modest RevPAR growth, transaction market challenges, and a suggestion that Taylor Swift could boost travel demand.

Aimbridge Hospitality is restructuring its finances by converting $1.1 billion in debt to equity, securing $100 million in new capital, and shifting majority ownership to its first lien lenders, with completion expected in early 2025.