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1. New owners lined up for largest San Francisco hotels
Years after going into receivership, San Francisco's two largest hotels — the Hilton San Francisco Union Square and the Parc 55 — have a new ownership group lined up, SFGate reports.
New York-based investment groups Newbond and Conversant are reportedly in line to purchase the properties, according to court records. The hotels' former owner — hotel real estate investment trust Park Hotels & Resorts — handed back the keys to the hotels' lenders in late 2023.
Travel to San Francisco has staged somewhat of a comeback in that period, giving some sign that this deal could mark a turning point for the city.
“San Francisco is a smarter investment today than it has been in a very long time, particularly in the hotel sector,” Alex Bastian, president and CEO of the Hotel Council of San Francisco, said to the news outlet. “The Hilton and Parc 55 are standout assets — well-managed, centrally located and positioned for significant upside as the visitor economy expands.”
2. US international travel demand depression could linger indefinitely
Weak inbound travel into the U.S. has been a continued problem and all signs point to it staying that way, ABC News reports.
The news outlet points to efforts in markets like Buffalo, New York, that are heavily dependent on travelers from Canada. Tourism officials in that city put up billboards saying "Buffalo Loves Canada" and offered gift card giveaways, but have struggled to break through amid U.S.-Canada tensions.
"To see the traffic drop off so significantly, especially because of rhetoric that can be changed, is so disheartening,” Patrick Kaler, CEO of Visit Buffalo Niagara.
The World Travel & Tourism Council President and CEO Julia Simpson told ABC that the "global appeal of the U.S. is slipping" and is the only country out of 184 monitored that saw foreign visitor spend drop in 2025.
“The world’s biggest travel and tourism economy is heading in the wrong direction,” she said. "While other nations are rolling out the welcome mat, the U.S. government is putting up the ‘closed’ sign.”
3. JLL exec believes transactions will trend up
The stars are aligning for a better transactions market, said Kevin Davis, Americas CEO at JLL Hotels & Hospitality. CoStar News' Natalie Harms reports that JLL's latest U.S. Hotel Investment Trends report calls for an increase in transaction activity in the coming months.
"I do think that you could see a pickup in transaction volume in the second half of the year, but I can almost certainly guarantee that there will be a substantial pickup in 2026 relative to 2025," Davis said.
Part of the driver for new deals is a shrinking bid-ask spread as more investors face more pressure to get deals done.
4. Lisbon funicular derailment turns fatal
A popular funicular in a tourist heavy part of Lisbon derailed Wednesday, killing 16 and injuring 21 more, The New York Times reports. The accident comes at a tourism heavy part of the calendar in Portugal.
Local officials say the crash of the Elevador da Glória was caused by "a cable that came loose," causing it to collide with a building.
"The Elevador da Glória, which opened in 1885, connects two of the wealthiest and most popular areas of Lisbon, and is one of three funiculars that carry people up and down the city’s steep hills," the newspaper reports. "Its cars can carry 42 passengers, according to Carris, the company that operates it."
5. UK Travelodge opens 600th hotel in country
U.K.-based budget hotel operator Travelodge hit a major milestone this week with the opening of its 600th property in its home country, the 80-room Travelodge Skegness Seafront, CoStar News' Terence Baker reports.
please add a link to terry's story once posted
This was the third hotel opened by the company this year, with nine more expected by the end of 2025.
Travelodge's portfolio includes 615 properties in total, with a 12 in Spain and three in Ireland.