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U.S. Hotels Bring in Record Revenue in 2015

2015 was a good year for hospitality. Last year, the hotel industry’s revenue and profit margin reached historic highs. According to STR’s 25th annual HOST Almanac, hospitality’s house profit reached $73 billion last year–passing a peak that had not been ...

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Hotel Owners Clash with Marriott-Starwood Over Merger

Marriott International’s acquisition of Starwood Hotels & Resorts is being challenged by owners of hotels in New York and Chicago. Cityfront Hotel Associates Limited Partners and Dream Team Hotel Associates have sued both Marriott and Starwood, claiming the merger would ...

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InnVest Sells for $1.6 Billion

InnVest Real Estate Investment Trust is selling its portfolio of 109 hotel to Bluesky, a Canadian company backed by Hong Kong, for 2.1 billion Canadian dollars, or $1.6 billion USD, including debt. InnVest’s hotels hold properties managed by Marriott International, ...

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U.S. Hotels Take Steps Toward Energy Efficiency

American hotels long avoided energy-saving practices. But now that the American public has become more environmentally conscious, hoteliers are changing their ways. In 2014, more than 75 percent of hotels surveyed by AH&LA had switched to LED lighting, up from ...

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SBE to Acquire Morgans for $794 Million

What a difference a few months make. Last November, merger discussions between Morgans Hotel Group and SBE Entertainment Group collapsed. But just yesterday it was announced that Morgans Hotel Group agreed to be purchased by Sam Nazarian’s SBE for $2.25 a ...

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