Lodging Daily News

As seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there were 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9 percent year-over-year (YOY) increase in projects and a 7 percent YOY increase in rooms compared to last year. The details can be seen directly within the stages of the pipeline, which all saw YOY growth

PARSIPPANY, New Jersey—Wyndham Hotels & Resorts announced results for the three months ended March 31, 2024. Highlights include: Global RevPAR grew 1 percent in constant currency and ancillary revenues grew 8 percent compared to the first quarter of 2023. System-wide rooms grew 4 percent year-over-year. Opened over 13,000 rooms, representing a year-over-year increase of 27 percent. Awarded 171 development contracts, an increase of 8 percent year-over-year. Development pipeline grew 1% sequentially and 8 percent year-over-year

Concord Hospitality announced the appointment of Will Loughran as its new chief operating officer. He will report to Mark Laport, president and CEO. He succeeds Nick Kellock, who will retire in May. Aimbridge Hospitality announced Greg Moundas as chief legal officer, reassuming the role after a short stint away from the organization. Moundas will play a key role in the company’s executive team. Mainsail Lodging & Development announced the promotion of Sara DeBerry to regional

PARK CITY, Utah—Driftwood Capital announced it secured $33 million in refinancing for the Sheraton Park City hotel in Park City, Utah, a 200-key hotel situated near ski trails, training facilities, and year-round outdoor amenities. Berkadia South Florida’s Managing Directors Michael Weinberg and Scott Wadler, along with their team members Alec Fox and Edmund Aramayo, arranged the five-year, fixed-rate CMBS loan through Goldman Sachs Bank USA. “The hotel, with its extensive meeting space compared to its

MCLEAN, Virginia—Hilton Worldwide Holdings Inc. reported its first quarter 2024 results. Highlights from the first quarter include: Diluted EPS was $1.04 for the first quarter, and diluted EPS, adjusted for special items, was $1.53 Net income was $268 million for the first quarter Adjusted EBITDA was $750 million for the first quarter System-wide comparable RevPAR increased 2.0 percent, on a currency-neutral basis, for the first quarter compared to the same period in 2023 Approved 29,800