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Lightstone to Invest $2 Billion in Hotel Projects

Lightstone to Invest $2 Billion in Hotel Projects

The Lightstone Group is committing $2 billion to developing and investing in select-service hotels, $1 billion of which it plans to spend on Moxy-branded properties, Bloomberg reports. The New York-based real estate company has teamed up with Marriott International to ...

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Fitch: U.S. Lodging Up Cycle Shows Continued Strength

Fitch: U.S. Lodging Up Cycle Shows Continued Strength

The year-over-year change in U.S. revenue per available room (RevPAR) has been positive for 53 sequential months through January 2015, according to Fitch Ratings. This represents less than half of the duration of the 112-month recovery that began in the ...

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Priceline Reports Strong End-of-Year Earnings

Priceline Reports Strong End-of-Year Earnings

For the fourth quarter of 2014, Priceline Group reported gross profit of $1.7 billion, a year-over year increase of 26 percent. Fourth-quarter bookings—the total value of all travel services purchased by Priceline customers—increased 17 percent from the prior year to ...

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Blackstone Aims to Turn Around Cosmopolitan

Blackstone Aims to Turn Around Cosmopolitan

Blackstone Group expects to spend up to $200 million to turn around The Cosmopolitan of Las Vegas, which the firm acquired for $1.73 billion in December, according to the Wall Street Journal. Deutsche Bank, which took control of the hotel ...

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Starwood President and CEO Frits van Paasschen Resigns

Starwood President and CEO Frits van Paasschen Resigns

Starwood Hotels & Resorts Worldwide today announced that Frits van Paasschen has resigned as president, chief executive officer, and a director. Adam Aron, a Starwood director since 2006, has been named CEO on an interim basis while the board conducts ...

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