Will a recession happen in the U.S.? And if it does, how will it affect the hospitality industry? Hoteliers and analysts debated the topic on the first day of the @HotelDataConf. Check out our recap of the day, complete with a video and podcast wrap-up.
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A Hawaii real estate analyst told @CoStarNews a majority of the CRE available for lease or sale in Lahaina was destroyed.
The town is a major tourist destination in Maui, attracting 2M+ ppl annually.
Lahaina also is Maui's main cruise ship port.
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@drewmagary I like Temple of Doom. It’s a different kind of sequel that takes chances when so many sequels are afraid to. The world has more villains than just Nazis or Russians that are basically Nazis. The mine cart chase and cutting the bridge are iconic Indy moments, too.
What's behind the flurry of midscale, extended-stay brands? Hear a bit of hotel industry history from Noble Investment Group's Mit Shah in this audio interview with @HNN_Sean.
Noble Investment Group CEO Mit Shah said hotel companies such as @Hilton, @Hyatt and @MarriottIntl embracing the midscale extended-stay segment is a testament to its continued strong fundamentals. Click the link for the full audio.
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"...record-high office vacancy; concerns over street conditions; lower return to office than peer cities; and a weaker-than-expected citywide convention calendar through 2027..."
What's next for the San Francisco hotel market? Park CEO and Chairman Tom Baltimore makes some pretty big pronouncements about the market:
"We believe San Francisco’s path to recovery remains clouded and elongated by major challenges — both old and new..."
Real estate investment trust Park Hotels & Resorts has halted payments toward a $725 million non-recourse CMBS loan, which is scheduled to mature in November and covers the Hilton San Francisco Union Square and the Parc 55 San Francisco.
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Recapping the first quarter, executives from public hotel companies and others in the travel industry shared international travel trends that are driving optimism for the rest of the year.
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The Hotel News Now editorial team received several @ASBPE awards, including two 2023 National Gold Awards for Overall Headline Writing and Trade Show/Conference Coverage for @Hoteldataconf. Read more about the team's accomplishments here:
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A lot of good commentary during Host's earnings call this morning. Insight into Q1 year-over-year comparisons, what's going on in San Francisco and setting up bridge loans for buyers as part of asset sales.
Executives at Bethesda, Maryland-based hotel real estate investment trust Host Hotels & Resorts see consistent group bookings over the course of 2023 and beyond, which is one of the main reasons the REIT raised its 2023 RevPAR guidance.
https://t.co/6QxVX1GCgN
Hoteliers are joining the rest of the United Kingdom in celebration of King Charles III’s #Coronation on May 6 by offering guests delicious, themed treats, cocktails and unique experiences.
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In the company's first-quarter earnings call with analysts, @Hilton President and CEO Chris Nassetta said the company is close to officially launching a lower-midscale extended-stay brand.
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Ahead of first-quarter 2023 earnings calls, hotel industry analysts said investors are watching for any signs of economic trouble despite industry fundamentals staying strong.
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As hotel booking trends have normalized, in some ways relationships have improved between hotel companies and online travel agencies.
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In a series of interviews, leaders in the U.S. hotel industry shared how the past three years with the COVID-19 pandemic changed them on a personal level, and how those changes then influenced their approach to leadership.
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The Latino population is the fastest-growing in the U.S., and Latinos have the fastest-growing number of new businesses, but their presence is small in hotel ownership, according to The Latino Hotel and Entrepreneurship Investment Report.
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The pandemic threatened to eliminate the hotel buffet. But buffets are back and have evolved with different menu items, operations and even new presentation and design.
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Host Hotels & Resorts is still hungry for more acquisitions, but so far sellers haven't budged on their pricing. But when prices do fall, Host President and CEO Jim Risoleo said the REIT is poised to be in the best position to get deals done.
https://t.co/DeS46x0jb9
Braintree Group CEO Eric Danziger discussed the launch of a new third-party management division, Resolute Road Hospitality, which follows a series of high-profile executive positions throughout his hotel industry career.
https://t.co/WROa0lHuw2