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U.S. Hotel Prices Increase Ahead Of Global Average

U.S. Hotel Prices Increase Ahead Of Global Average

The average price paid for a hotel room around the world rose by 3 percent during 2014, compared with 2013, according to the latest Hotels.com Hotel Price Index (HPI). The overall global economic recovery gathered momentum and consumers became more ...

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New York State Closes Illegal Hotel in Manhattan

New York State Closes Illegal Hotel in Manhattan

The owners of a 36-story building on East 34th Street in Manhattan turned what was supposed to be a condominium into a hotel while taking millions of dollars in tax breaks meant to spur the construction of affordable apartments, The ...

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RLJ Lodging Trust Sells 24 Hotels for $240 Million

RLJ Lodging Trust Sells 24 Hotels for $240 Million

RLJ Lodging Trust has sold 24 hotels for approximately $240 million. The sale price represents approximately a 7.9 percent capitalization rate on the hotels’ 2014 net operating income, including planned capital expenditures. The 24 hotels were initially acquired as part ...

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