MCR Acquires Two Hotels in Phoenix, Arizona
Category: Acquisitions, Finance, Finance & Development, Real Estate
NEW YORK—MCR has acquired two hotels in or near Phoenix, Arizona: the 169-room Holiday Inn Express & Suites Scottsdale – Old Town and the 121-room Hampton Inn by Hilton Phoenix-Biltmore. With the acquisition of these hotels, MCR has nine hotels in the Grand Canyon State. Located in Old Town Scottsdale, the all-suite Holiday Inn Express & Suites is a point for exploring the area’s shops, restaurants, and art galleries, as well as museums and historic
FORT LAUDERDALE, Florida—Dimension Hospitality announced the appointment of Greg Friedman as CEO following the sudden death of company founder Sam Friedman on July 2. Greg Friedman joined the company in 2000 as general counsel and most recently served as company president. Greg and Sam focused on growing the company’s portfolio to its current 80 hotels through both hotel development and management contract acquisitions. During this time, he worked closely with Sam Friendman on the company’s
The JW Marriott Dallas Arts District opened, marking the brand’s debut in the cultural arts scene in Dallas, Texas. The hotel is located near the Dallas Museum of Art, Nasher Sculpture Center, Crow Museum of Asian Art, Meyerson Symphony Center, Moody Performance Hall, and the Winspear Opera House. The hotel’s design immerses guests in artistic influences and experiences while providing the brand’s style. Dallas has one of the largest contiguous urban arts districts in the
CoStar: U.S. Hotel Occupancy Reaches Highest Level Since 2019
Category: Finance, Finance & Development, Market Reports
WASHINGTON—U.S. hotel performance increased from the previous week and showed improved comparisons year over year, according to CoStar’s latest data through July 22, 2023. U.S. Hotel Performance July 16-22, 2023 Percentage change from comparable week in 2022:Occupancy: 72.9 percent (up 0.5 percent)ADR: $161.65 (up 1.5 percent)RevPAR: $117.91 (up 2.0 percemt) The U.S. occupancy level was the highest since the week ending August 10, 2019. Among the Top 25 Markets, New York City saw the largest
WASHINGTON—American Hotel & Lodging Association (AHLA) President and CEO Chip Rogers spoke in support of the Hotel Fees Transparency Act, which was introduced in the U.S. Senate by Sens. Klobuchar (D-Minn.) and Moran (R-Kan.). “The Hotel Fees Transparency Act is an important bill that will create a single standard for mandatory fee display across the entire lodging ecosystem—from hotels to online travel agencies, metasearch sites, and short-term rental platforms,” said Rogers. “We know consumers shop