Knowland: Chicago Led Meetings and Events Volume for November
Category: Featured, Marketing, Meetings & Events, Operations
ARLINGTON, Virginia—Knowland reported that Chicago experienced the highest volume of meetings and events, together with an 8.6 year-over-year percent growth. Washington, D.C., and Phoenix were also top performers, with double-digit growth at 13.5 percent and 10.7 percent, respectively. Overall, the volume of U.S. meetings and events increased by a modest 5.6 percent due to the Thanksgiving holiday. Chicago led conventions and meetings volume during November, sustained by national associations and educational as top industry drivers.
WASHINGTON—The American Hotel & Lodging Association (AHLA) announced the hiring of Jessica Brady as vice president of federal affairs for tax policy. Brady joins AHLA from the Distilled Spirits Council of the United States (DISCUS), where she worked on tax, trade, and other issues as senior director of federal government relations. Before DISCUS, Brady led budget and appropriations advocacy as associate director of global development policy and advocacy at Save the Children and worked on
APF Arranges Acquisition Loan for Hampton Inn & Suites St. Augustine-Vilano Beach
Category: Acquisitions, Finance & Development, Financing, Real Estate
ATLANTA, Georgia—Access Point Financial (APF) has arranged an $18.5 million acquisition loan for the Hampton Inn & Suites St. Augustine-Vilano Beach, located in St. Augustine, Florida. APF stepped in after another lender backed out and helped the sponsor, Innisfree Hotels, close in less than three weeks as Hurricane Idalia was making landfall and headed towards St. Augustine, Florida. “This was a time-sensitive deal since our previous lender, a credit union, had backed out, leaving us
CoStar: U.S. Hotel Performance Increases as Expected
Category: Finance, Finance & Development, Market Reports
WASHINGTON—As expected, U.S. hotel performance increased from the previous week, according to CoStar’s latest data through Dec. 2, 2023. U.S. Hotel Performance November 26-December 2, 2023 Percentage change from comparable week in 2022Occupancy: 54.2 percent (down 1.6 percent)ADR: $144.88 (up 0.8 percent)RevPAR: $78.54 (down 0.8 percent) Among the Top 25 Markets, New York City saw the largest year-over-year increases in occupancy (up 6.8 percent to 83.5 percent) and RevPAR (up 17.2 percent to $319.18). Las
CHICAGO—Hyatt Hotels Corporation shared Hyatt’s development pipeline of more than 35 planned luxury hotels and resorts globally through 2025 across the Park Hyatt, Grand Hyatt, Miraval, Alila, Andaz, Thompson Hotels, and The Unbound Collection by Hyatt brands, as well as Inclusive Collection brands Zoëtry Wellness & Spa Resorts and Dreams Resorts & Spas. Hyatt doubled the number of luxury rooms, tripled the number of resort rooms, and quadrupled the number of lifestyle rooms in five
