Tag: finance & development
Rising Labor Costs: Drivers Include Inflation, High Minimum Wage, and More Hours Worked
Less spending on labor has been a big reason why U.S. hotel profit margins have held strong, but that spend is on the rise...
STR: U.S. Weekly Hotel Performance Increases, Backed by Spring Break Travel
HENDERSONVILLE, Tennessee—Helped by spring break travel, U.S. hotel performance increased from the previous week, according to STR's latest data through March 18, 2023.
U.S. Hotel...
NewcrestImage and Hospitality Capital Partners Acquire 16 Hotels in Joint Venture
In a joint venture, Dallas, Texas-based NewcrestImage and Phoenix, Arizona-based Hospitality Capital Partners (HCP) have acquired 16 hotels with a total of 2,155 rooms...
IHG Shares Development Updates and Plans Future Growth
IHG Hotels & Resorts shared development momentum from 2022 and the start of the 2023 HUNTER Hotel Investment Conference in Atlanta, Georgia, by releasing...
Extended Stay America Enters Agreement for Eight New Properties With Bask Development
CHARLOTTE, North Carolina—Extended Stay America announced that it entered into an agreement with BASK Development for eight new Extended Stay America Premier Suites located...