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Press Releases

Press Release

2024 U.S. Hotel Investor Intentions Survey

A few months ago CBRE Hotels conducted a survey of executives whose primary responsibility is investing in U.S. hotels. Survey participants were asked to describe their U.S. hotel investment preferences for 2024 by geography, chain-scale, and type of hotel. In addition, they were asked about the factors that influenced their priorities.

CBRE Hotels
United States
Press Release

Plamondon Hospitality Partners Expands Their Award-Winning Hospitality Services With Newest Property Purchase

Plamondon Hospitality Partners, headquartered in Frederick, Maryland, is excited to announce their purchase of the Holiday Inn Express & Suites Johnstown in Johnstown, Pennsylvania. The acquisition of the Holiday Inn Express & Suites marks the beginning of Plamondon’s transition into the region’s market.

Plamondon Hospitality Partners
Johnstown, Pennsylvania, United States
Press Release

Everhome Suites Expands Presence in the Northeast with Three New Groundbreakings in New Hampshire, New Jersey, and New York

Choice Hotels International, Inc. (NYSE: CHH), one of the world's largest lodging franchisors, continues to expand its Everhome Suites brand with recent groundbreakings in Portsmouth, New Hampshire; Rochester, New York; and Somerset, New Jersey, developed in collaboration with Highside Companies. The extended stay demand fundamentals make these locations an ideal fit for the Everhome Suites midscale brand, catering to both business and leisure travelers. Within the category, Choice has nearly 480 hotels open and more than 400 properties in the pipeline across its four extended stay brands, as of the first quarter of 2024.

Choice
United States
Press Release

Marriott International Announces Three Conversions to Bring Iconic Luxury Properties in the United States into the Marriott Bonvoy Portfolio

Marriott International, Inc. [Nasdaq: MAR] announces plans to convert three iconic luxury properties in the U.S. to brands within the Marriott Bonvoy portfolio. Located in some of the most sought-after destinations in the country, The Resort at Pelican Hill, Turtle Bay Resort, and a luxury Midtown hotel in New York City are all expected to join Marriott Bonvoy’s luxury brands this summer.

Marriott
United States
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Tambourine
Press Release

Wall of U.S. hotel debt maturities to catalyze transactions

$5.8 billion of U.S. hotel single-asset securitized loans, including CMBS and CRE CLOs are coming due for maturity in 2024. Despite the U.S. hotel industry demonstrating strong RevPAR performance, there are multiple headwinds that could impede the refinancing of these securitized loans and compel owners to transact instead. These headwinds include the lagging profitability of U.S. hotels, persistently high interest rates, and historically high costs of property insurance.

JLL
United States
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Hospitality Financial and Technology Professionals (HFTP)
Press Release

Placemakr Announces a Major Expansion Totaling Over 800 Units and Four New Properties in Texas

Placemakr, a flexible-use hospitality and multifamily operator, today announced a major expansion across Texas with four new property launches, bringing the company's total operations to over 800 units in the state. The expansion includes the acquisition of Placemakr Downtown Austin, formerly named 3Waller, a 259-unit property in the heart of downtown Austin, marking the 6th property acquisition for Placemakr. The expansion also includes Placemakr's first smaller property launch (24 units) as part of a new brand concept, "Hosted by Placemakr." Lastly, Placemakr will also manage its first two exclusively residential properties in Texas. With these launches, Placemakr is investing in Texas as a destination for both work and play, where the tech scene continues to grow.

Placemakr
Texas, United States