NEWTON, Massachusetts—Sonesta International Hotels Corporation announced the opening of Sonesta Essential Augusta on Washington Road in Augusta, Georgia. The recently renovated 57-room hotel is joining the growing portfolio of Sonesta Essential. “We are excited to expand our portfolio with the addition of the Sonesta Essential Augusta,” said Keith Pierce, EVP and president franchise and development, Sonesta. “This new addition, which had a soft launch earlier this year, provides a new upper-midscale hotel option for visitors
Grand Hyatt Atlanta in Buckhead announced the completion of its guestroom and suite renovation, including the addition of the Grand Peach Suite and Pure Rooms. With a total renovation of 439 guestrooms including 21 suites, this milestone marks a step in a multi-phase renovation. “We are proud to introduce our newly renovated guestrooms, offering enhanced luxury, sleek amenities, and ample space for gatherings. Guests will have a variety of residential suites to choose from, depending
ATLANTA—Davidson Hospitality Group has been selected to operate the two interconnected resorts situated in Frenchman’s Reef on St. Thomas, U.S. Virgin Islands: The Westin Beach Resort & Spa at Frenchman’s Reef and Morningstar Buoy Haus Beach at Frenchman’s Reef, Autograph Collection. The properties, which reopened in 2023 following a multi-year renovation, feature 486 guestrooms and suites; 85,000 square feet of meeting space; 10 restaurants and bars; a Heavenly Spa by Westin, and more. “We are
CoStar: U.S. Hotel Industry Performance Lifts Year Over Year
Category: Finance, Finance & Development, Market Reports
WASHINGTON—The U.S. hotel industry reported slightly positive comparisons year over year, according to CoStar’s latest data through August 3, 2024. U.S. Hotel PerformanceJuly 28- August 3, 2024Percentage change from comparable week in 2023:Occupancy: 69.4 percent (up 0.8 percent)ADR: $159.63 (up 0.6 percent)RevPAR: $110.84 ( up 1.3 percent) Among the Top 25 Markets, Houston saw the highest year-over-year increases in occupancy (up 28.1 percent to 75.8 percent) and RevPAR (up 45.7 percent to $93.88). Houston (up
NORTH BETHESDA, Maryland—Choice Hotels International, Inc. reported its second quarter 2024 results. Highlights include: Total revenues reached $435.2 million for second quarter 2024, a quarterly record and a 2 percent increase compared to the same period of 2023. Net income increased 3 percent to $87.1 million for the second quarter of 2024, representing diluted earnings per share (EPS) of $1.80, a 9 percent increase compared to the same period of 2023. Second quarter 2024 adjusted