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Fitch: U.S. Lodging in Twilight of Latest Upcycle

Fitch: U.S. Lodging in Twilight of Latest Upcycle

NEW YORK—The U.S. lodging industry is in the twilight of the current upcycle, according to Fitch Ratings. The recovery is now the second longest on record, with trailing 12-month (TTM) RevPAR positive for 68 consecutive months. Fitch is not forecasting ...

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Hersha Closes on Joint Venture with Cindat

Hersha Closes on Joint Venture with Cindat

PHILADELPHIA—Hersha Hospitality Trust, owner of upscale hotels in urban gateway markets, announced the company has closed on the joint venture for seven of the company’s premium limited service hotels in Manhattan with Cindat Capital Management Limited, a China-based investment management ...

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New Spring Reservation Demand Weakens

New Spring Reservation Demand Weakens

NEW YORK—New reservation commitments added over the last month are down -7.1 percent, according to new data from TravelClick’s April 2016 North American Hospitality Review (NAHR). These numbers highlight hotels’ continued fragmented performance during this season. However, there remains some ...

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Sessa Sends Letter to Ashford Hospitality Prime Shareholders

Sessa Sends Letter to Ashford Hospitality Prime Shareholders

NEW YORK—Sessa Capital (Master), L.P. (Sessa), owner of 8.2 percent of the outstanding common shares of Ashford Hospitality Prime, Inc. (Ashford Prime or the company) today sent the following letter to Ashford Prime shareholders in response to the company’s termination ...

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Apple Hospitality REIT, Apple REIT Ten to Merge

Apple Hospitality REIT, Apple REIT Ten to Merge

RICHMOND, Va.—Apple Hospitality REIT, Inc. and Apple REIT Ten, Inc. (“Apple Ten”), collectively the “Pro Forma Combined Company,” announced today that the boards of directors of both companies have approved a definitive merger agreement under which the companies will create ...

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