Lodging Econometrics: Dallas Continues to Lead the U.S. Construction Pipeline
Category: Finance, Finance & Development, Market Reports
According to the Q3 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the close of the quarter, the five markets with the largest hotel construction pipelines were led by Dallas with a record-high of 194 projects and 22,803 rooms, followed by Atlanta with a record-high 166 projects accounting for 19,174 rooms, Nashville with a record-high 130 projects and 16,966 rooms, Phoenix with 123 projects/15,999 rooms, and Austin with a record-high 119
SAN ANTONIO, Texas—The Hospitality Show wrapped up its second annual event at The Henry B. González Convention Center with three days of insights, networking opportunities, and solutions designed to elevate the hospitality industry. The Hospitality Show witnessed a year-over-year growth attracting 4,800 attendees and 460 vendors, marking a 26 percent increase in attendance and a 43 percent growth in vendors. “The Hospitality Show exists to convene our industry’s top operations and technology leaders, and provide
CHICAGO, Illinois—Hyatt Hotels Corporation reported Q3 2024 results. Highlights include: Comparable system-wide hotels RevPAR increased 3.0 percent compared to the same period in 2023 Comparable system-wide all-inclusive resorts Net Package RevPAR decreased 0.9 percent compared to the same period in 2023 Net rooms growth was approximately 4.3 percent Net income was $471 million and adjusted net income was $96 million Diluted EPS was $4.63 and adjusted diluted EPS was $0.94 Adjusted EBITDA was $275 million
Motel 6: Travelers Are More Likely to Drive Than Fly for the Holidays
Category: Industry News, Trends & Research
DALLAS, Texas—U.S. travelers would rather drive than fly this holiday season as they seek familiar, flexible, and budget-friendly travel options. New data from Motel 6 and Studio 6 reveals that over half of those traveling to celebrate winter holidays this year will hit the road to their destination (51 percent) rather than take to the sky (13 percent). The study, which surveyed 2,000 U.S. travelers who plan to celebrate winter holidays this upcoming season, found
PM Hotel Group and Sightline Hospitality Announce Strategic Merger
Category: Featured, Industry News, M&A
CHEVY CHASE, Maryland—PM Hotel Group and Sightline Hospitality announced a strategic merger. This partnership marks a development in PM Hotel Group’s growth trajectory, specifically within PM Hotel Group’s lifestyle hotel division Modus by PM Hotel Group, complementing the organization’s verticals of lifestyle, differentiated hospitality, and experiential travel. The merger expands PM Hotel Group’s footprint across the United States, positioning the newly combined entity to deliver luxury and lifestyle hospitality, driving value for property owners while