The 12th revised edition of the Uniform System of Accounts for the Lodging Industry (USALI) fundamentally enhances the transparency of financial and operational aspects in the hospitality industry. To quote Sir Arthur Conan Doyle's iconic character Sherlock Holmes, “It is a capital mistake to theorize before one has data.”
LuxUrban Hotels Inc. (“LuxUrban” or the “Company”) (Nasdaq: LUXH), a hospitality company which leases entire existing hotels on a long-term basis and rents rooms in its hotels to business and vacation travelers, today announced the launch of a proposed follow-on public offering of shares of its common stock. All of the shares of common stock are being offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-278883) (the “Registration Statement”) filed with the Securities and Exchange Commission (“SEC”) and declared effective on May 8, 2024. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering will be completed, or as to the actual size or terms of the offering. Certain officers, directors, and holders of 5% or more of the Company’s common stock and affiliates thereof may participate in the offering.
Last week at JMBM’s Meet the Money® national hotel finance conference, The Lodging Industry Investment Council (“LIIC”) released its much-anticipated LIIC Top Ten – the 2024 update of its an annual survey of investment sentiment survey.
Hospitality Net and Hospitality Financial and Technology Professionals (HFTP®) are collaborating on a brand-new survey which aims to gather and analyze data on current investment trends, funding needs, future investment priorities, technology adoption rates, and the overall market dynamics within the hotel technology ecosystem. The objective is to identify areas of growth, potential investment opportunities, challenges facing the sector, and how technological innovations are shaping the future of the hotel industry.
An effective partnership between the Chief Marketing Officer (CMO) and Chief Financial Officer (CFO) is crucial, as research shows that finance and marketing are intrinsically linked. Therefore, aligning marketing initiatives with the broader financial strategy leads to better performance. CMOs are tasked with deploying budgets in ways that they believe will maximize business growth through strategic marketing efforts. Simultaneously, CFOs are responsible for overseeing the company's financial health, ensuring budgets are allocated wisely and costs are controlled to safeguard and enhance the organization's financial standing.
Wyndham Hotels & Resorts (NYSE: WH) today announced results for the three months ended March 31, 2024.
Hilton Worldwide Holdings Inc. ("Hilton," "the Company," "we," "us" or "our") (NYSE: HLT) today reported its first quarter 2024 results.
The prospect of higher inflation in coming months will likely cause volatility in financial markets. However, CBRE expects inflation will ease toward the Fed’s 2% target as the year progresses. While it’s too early for the Fed to declare victory on inflation, forward indicators point toward softening in the labor market. This should give the Fed confidence to make its first rate cut in June. With two additional rate cuts expected this year, CBRE forecasts that the federal funds rate will end the year at a range of 4.50% to 4.75%, while the 10-year Treasury yield is expected to fall to 3.7% from about 4.3% currently.
Weave Living and KKR has Acquired Seoul’s State Sunyu Hotel, LHN is Bringing Two Additional Coliwoo Properties to Singapore, Hilton has Acquired Sydell Group for Luxury Lifestyle Hotel Expansion, Quality Resort Siesta Sold to a Private Indian Syndicate.
Despite being one of the last markets to fully re-open its borders to visitors following the end of the COVID-19 pandemic, the large number of foreign visitors and durable domestic demand have seen Average Daily Rates (ADRs) across all cities and categories increase significantly. STR data show aggregate daily rates reached JPY 18,403 as of February 2024 y-t-d, 35% higher than the same period of 2019.
A major expansion and renovation project, in excess of £80 million, has begun at the multi-award-winning Belfry Hotel & Resort in the West Midlands. The impressive project, due for completion Autumn 2025, will see a flagship 852sqm event space, The Masters Suite, built and designed to host 648 guests for banqueting with a max capacity of 920, making it perfect for conferences and product launches, mini expos and weddings.
Hilton acquires majority stake in Sydell Group, Archer acquires Shelbourne Hotel in Dublin from Kennedy Wilson, Trinity, Oaktree and UBS acquire Park Hyatt Zurich leasehold from Hyatt, King Street acquires Bauer Hotel in Venice from Signa, Aprirose acquires three hotel ground rents in the UK from Lloyds PF, La Llave de Oro acquires Hotel Ciutat de Barcelona from Ciutat, Azora Capital acquires two hotels in Brussels, Hotusa acquires Hotel Alma Pamplona in Spain from Alma Hoteles.
America’s hotels are projected to generate record levels of federal, state, and local tax revenue this year while paying employees historic totals of wages, salaries, and other compensation, according to state-by-state projections released today by the American Hotel & Lodging Association.
The Tax Relief for American Families and Workers Act of 2024, H.R. 7024, could provide substantial tax relief to hotels across the country, incentivizing investments in renovations and property upgrades, according to a Cornell University study commissioned by the American Hotel & Lodging Association.
The Meet the Money® 2024 program has launched on MeetTheMoney.com, and we’re excited to bring you a conference packed with the experts you want to hear from. Join us in Los Angeles for three days of high-level discussion panels and special industry presentations focused on financing, investment, deal-making, and success in this year’s market.
As one of the first international hotel companies to enter the China market, IHG Hotels & Resorts (IHG) upholds its "in China, for China" commitment. With a leading position in the industry, IHG anticipates trends in the tourism market and guest needs. Recently, IHG concluded its "Dream Bigger, Travel Bigger” 2024 Greater China Expo Roadshow in Beijing, Shenzhen, and Shanghai. This initiative further bolsters the revival of the business travel market and showcases IHG's robust expansion across Greater China region.
CPIPG sells 50% stake in eight Czech hotels to Best Hotel Properties, BG Hotels sells BG Portinatx Beach Club Hotel in Ibiza to Spanish hotel family, ASG sells Hampton by Hilton in Barcelona to UK family office, Millennium REIT sells Hotel Eurostars Lucentum in Spain.
Travelodge OpCo Group, the UK’s first budget hotel brand which operates nearly 600 hotels, today announces the completion of the property acquisition as anticipated in the announcement of the agreement on 8 January 2024.
Hotel values across Europe remained steady in 2023 buoyed by the consolidation of the post-pandemic recovery and a steady desire to travel keeping average room rates strong, according to the annual European Hotel Valuation Index (HVI) published this week by global hotel consultancy HVS.These influences combined to off-set the impact of a number of geopolitical challenges including the war in Ukraine, the war between Israel and Hamas and the shaky Chinese economy as well as increasing operating costs, and high interest rates.
Accor announces that it has concluded on March 11, 2024 a share purchase agreement to repurchase a block of 7 million of its own shares – representing 2.77% of its capital[1] – from Jinjiang International. The price per Accor share for this transaction is €39.22, i.e. at a discount of 3.0% compared to the closing price of March 11, 2024 of €40.43.