Miami

Global hotel investments are booming, with a 13% RevPAR increase, high cross-border deals, and $42.1B in transactions, driven by strong demand for luxury and select-service hotels.

Mandarin Oriental Hotel Group is expanding in Miami with a new Brickell Key project, adding projects in Mexico and Grand Cayman.

Ryman and Apple Hospitality both reported earnings beats, with Ryman raising its dividend and Apple buying back shares and tightening guidance, while Summit grew results despite hurricanes.

Choice Hotels’ Q3 results led to a stock uptick, while Marriott’s mixed report and lower Q4 guidance saw its shares decline despite share buybacks and a new cost-cutting plan.

Service Properties Trust is reducing its dividend, selling 114 hotels to repay debt and save on capital expenditures, and will continue owning 34% of Sonesta while selling other properties.

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.

Wells Fargo adjusted ratings and price targets for several hotel stocks, upgrading some while cutting price targets for others.

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.

IHG Hotels & Resorts and Six Senses announced the signing of Six Senses Telluride, a luxury property with extensive amenities set to open in 2028 in North America's Mountain West Region.

Marriott International has entered a long-term licensing agreement with Sonder Holdings to add over 9,000 rooms to its portfolio under a new "Sonder by Marriott Bonvoy" collection, contributing to a projected 2024 net room growth of 6-6.5%.