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The state of Texas and Marriott International entered into a voluntary agreement in which the hotel brand will more prominently display all resort fees and increase price transparency during the booking process and in its advertisements, Reuters reports.

According to Texas Attorney General Ken Paxton, hotel companies are engaging in fraudulent and anti-competitive practices by misleading consumers in advertisements, which prevent comparative shopping, and charging "millions of dollars in hidden fees," the news outlet reports.

"In its voluntary agreement with Texas, Marriott denied it misrepresented room rates, mandatory fees or total price in its advertising nor violated Texas consumer protection laws," Reuters reports. "Marriott has voluntary agreed to disclose all 'resort fees' and the total price of rooms as the most prominently displayed price, according to a statement from Paxton."

On Monday, Texas also filed a suit against Hyatt Hotels Corp. "for allegedly violating Texas consumer protection laws by misleading consumers with marketing and charging hidden fees."

IHG Hotels & Resorts on Wednesday appointed Jolyon Bulley as Americas CEO, succeeding Elie Maalouf effective July 1, reports HNN's Trevor Simpson. Maalouf is set to become group CEO following Keith Barr's departure.

Bulley, who joined IHG in 2001, has been IHG's CEO for the Greater China region since 2018 and also currently is the group's transformation lead for luxury and lifestyle hotels. Before becoming CEO for the Greater China region, he held the role of chief operating officer for the Americas region from 2014 to 2017.

“Jolyon has made an enormous contribution to the success of IHG over his more than two decades in the business, including holding senior roles in our two biggest markets. His appointment as Americas CEO demonstrates IHG’s commitment to invest in our leaders’ development potential, our robust succession planning and a continuation of our existing growth strategy for the Americas region," Barr said in a news release.

Reporting from the first day of the International Hotel Investment Forum, Hotel News Now editors said European hoteliers are broadly optimistic despite the realities of the deals landscape.

"There is a wall of capital, to use the cliché, seeking a product with which to rest, but everyone seems to be after the same assets. Have a good track record before the pandemic? Have a great relationship with partners or a lender? Have access to potential deals off the public market? Have the capital stack in place with manageable refinancing terms? Then, yes, it might work, as the hotel industry is by far the real estate sector of choice as other sectors presently are disastrous," HNN's Terence Baker writes.

Toronto-based FRHI Hotels & Resorts, which owns the Fairmont Hotel brand, sold the Claremont Club & Spa in Berkeley, California, to Redwood City-based investors Ohana Real Estate for $163 million in an all-cash deal, reports HNN's Bryan Wroten.

The 276-room Claremont has changed ownership several times in its 108-year history, and could next be transformed into 45 condos. The hotel's history includes serving as the setting of the "swanky pool club" in the movie "Mrs. Doubtfire."

Data indicates that U.S. consumer spending increased in April as households spent more at online retailers and restaurants and bars, Reuters reports. Additionally, production at factories surged, homebuilder sentiment improved and job growth was strong in April.

Economists say increased spending is a result of wage gains, and they expect consumer spending will bolster the economy despite risks of a recession.

"Today's report should help reassure markets that consumer spending is not about to contract and will instead support at least modest continued economic growth," Andrew Hollenhorst, chief U.S. economist at Citigroup in New York, told the news outlet.

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