When the Waldorf Astoria Residences Miami opens in a 100-story tower on Biscayne Bay sometime in the mid 2020s, it'll be one of the tallest hotels in the United States. The downtown skyscraper will turn heads for another reason, too: around 60 percent of the hotel will be private residences that each start at $1 million. That's quite a hotel bill, even for a Waldorf Astoria.
California’s hotel development trends are showing the effects of both recovering demand as well as lasting pandemic challenges.
The COVID-19 pandemic is making hotel owners reevaluate their strategies either because of the challenges the pandemic has caused or the opportunities it has created.
Both private and government buyers are finding real estate conversion opportunities with U.S. hotel owners who are reevaluating the highest and best use of their properties due to the COVID-19 pandemic.
The new Kayak Miami Beach will serve as an innovation lab for technologies like touchless check in, digital door locks, and a robust mobile app that will let guests connect with hotel staff virtually through their phones. (No more calling downstairs for more towels!)
Hotel owners and operators looking to pick up distressed assets have had to wait longer than previously expected, but industry experts believe those opportunities will arise later this year.
Before the pandemic began, the second location of The June Motel, a 24-room boutique hotel in Sauble Beach, Ontario, was set to open late last spring. To be fully ramped up for Lake Huron's 2020 beach season was the goal.
John Fitzpatrick has weathered multiple crises in his more than three-decade career in the hotel industry. He opened his first hotel in New York City during the Gulf War and owned three by the time 9/11 happened.
It's been a memorable year for hotel developers, though most would rather forget it. Bereft of financing and severely lacking in clarity over the industry's trajectory, new hotel projects came to a sudden halt in the U.S. in March with the onset of the COVID-19 pandemic.
One feature of post-COVID New York City just may be large, hulking, dark buildings, a legacy of the hotels that have or will have closed permanently due to an extreme revenue shortage brought about by lockdowns that deprived them of their clientele.
The owner of more than 100 Marriott hotel properties is threatening to terminate its agreement with the chain and re-brand the properties with another company due to a payment shortfall.
It took several months, but coronavirus is finally impacting hotel construction.
The U.S. hotel supply continues to grow at a record pace, even with the industry facing its worst downturn in recorded history. But the building boom's days are numbered.
The world's largest hotel companies expect independent hoteliers to flock to flag affiliations and their accompanying global reach during the coronavirus recovery to rebuild business. Don't hold your breath, says an organization representing boutique hotels.
If you're seeking indicators of how coronavirus is impacting the U.S. economy, you won't find it with hotel construction activity — yet.
A handful of NYC hotels are moving ahead with scheduled openings, whether or not the guests will arrive.
Though Hyatt Hotels Corp. and Hilton stand alone among the major hotel companies in pulling their 2020 outlooks in response to COVID-19, numerous real estate investment trusts have made that move in recent weeks. And while many of these REITs held back in quantifying the impact they had seen, several provided a window into the financial losses they have taken.
Toronto is one of my favorite cities in the world. I have visited the Canadian capital of Ontario for decades and marveled at its ability to be a world-class metropolitan city with soaring skyscrapers as well as a remarkable dynamic landscape of cultures and people from around the globe. More than 50% of its population are minorities, and it creates the most vibrant community of neighborhoods, from Downtown to Yorkville and beyond.
U.S. hotel companies are facing a shortage of construction workers just as they are building new brands and properties. The result: delayed projects and higher costs. The industry will have to get more aggressive to recruit workers if it plans to keep the momentum going on its expansion plans.
Oyo Hotels and Homes has made its first property acquisition in the U.S, purchasing the Hooters Casino Hotel Las Vegas, the company announced Friday.