Scottsdale

JLL reports a significant rise in large hotel transactions, particularly in luxury markets, with 2024 seeing a 59% increase in single-asset deals over $200 million, totaling $4 billion.

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

The Surrey, A Corinthia Hotel's New York City opening marks Corinthia's North American debut with luxury accommodations, exclusive dining, and private residences.

MCR plans to build two eight-story hotels with a total of 400 rooms and additional parking facilities next to the Hilton Miami Airport Blue Lagoon.

Selina Hospitality issued an update, emphasizing management's confidence through executive stock conversions and alignment with shareholders, clarifying that insider stock sales were automatic transactions for tax purposes, not discretionary market sales.

Hilton's expansion in Canada includes nearly 20 deals signed in 2023, with plans to introduce Spark by Hilton and Motto by Hilton in 2024 – aiming to surpass 200 hotels.

Starwood Capital Group signed a deal with SPAC Jaws Mustang Acquisition to merge. If completed, the SPAC will become the direct or indirect owner of Starwood entities’ interests in an initial portfolio of 10 properties, including the 1 Hotel Brooklyn Bridge.

Hilton Grand Vacations Inc. completed the previously disclosed acquisition of Bluegreen Vacations. The transaction broadens HGV’s offerings, customer reach, and sales locations, creating a premier vacation ownership, and experiences company.

Major hospitality companies reported mixed trends at the Morgan Stanley Global Consumer & Retail Conference, with lodging demand remaining positive but margins affected by high wages. Several companies, including Crescent Hotels & Resorts and HHM Hotels, announced the addition of new properties to their portfolios. Evermore Orlando Resort is set to open a unique beach paradise, and other hotels are undergoing significant renovations and refurbishments, indicating a continued focus on luxury and expansion in the hospitality industry.

Stock market rallied as treasury bond yields fell, with DJIA, Nasdaq, and S&P 500 gaining points, while lodging stocks like SOND, AHT, and others saw significant increases. Several hotel-related developments were announced, including renovations, new hotels, and property sales in various locations across the United States. Rosewood Hotels & Resorts will introduce Rosewood Blue Palace in Greece in 2025, while the British Colonial Hotel in Nassau, Bahamas, will reopen on December 12 after a $100 million renovation.