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1. Sonesta appoints co-CEOs
Sonesta International Hotels Corp. has named Keith Pierce and Jeff Leer as co-CEOs starting April 1. CEO John Murray will retire from Sonesta and his position as executive vice president at The RMR Group, majority owner of the hotel brand, according to a news release.
Pierce is currently executive vice president and president of franchise and development at Sonesta. Leer is an executive vice president at The RMR Group.
“We are honored to lead Sonesta into its next phase of growth," the two said in a joint statement."
2. CIM Group closes $167.7 million loan on hotel portfolio
CIM Group closed on a $167.7 million loan through its CIM Real Estate Debt Solutions fund for Concord Hospitality and Whitman Peterson to recapitalize a portfolio of 15 WoodSpring Suites properties, according to a news release. That includes initial funding of $117.7 million with an additional $50 million available for earn-out opportunities and potential expansion of the portfolio.
The extended-stay hotels are located in Florida, Michigan, North Carolina and Tennessee.
CIM Group also recently closed on a $75 million loan for a select-service hotel in San Diego. In 2025, CIM-managed funds originated over $1 billion in loans for commercial real estate.
3. Hoteliers worry about lack of hotels near new Sydney airport
The Western Sydney International Airport is scheduled to open later this year, but hoteliers in Australia worry there's not much in the plans for new hotels, reports CoStar News Hotels.
Scott Boyes, CEO of hotel management company Trilogy Hotels, said the area should be a significant opportunity for the industry.
“But there’s an absence of master planning of demand drivers and hotel product. There’s a need to identify what we have and what we need in terms of tourism infrastructure,” he said.
4. US consumer prices grew 2.7% in December
Data from the U.S. Bureau of Labor Statistics shows consumer prices grew by 2.7% year over year in December, the New York Times reports. The increase was 2.6% when removing more volatile food and energy prices.
The increase was in line with November data, which came after missed reports due to the government shutdown.
The report also comes after the employment report for December showed unemployment fell back to 4.4%.
5. Trump implements 25% tariff on Iran trade partners
President Donald Trump said in a Truth Social post he would implement a 25% tariff on any goods coming from countries that trade with Iran, Reuters reports. There was no official documentation from the White House, however, or any information about the legal authority to do so.
The post comes in response to the ongoing protests by Iranian citizens against their country's government. More than 510 protestors have been killed since the protests started on Dec. 28, according to U.S.-based human rights group HRANA.
"China's position against the indiscriminate imposition of tariffs is consistent and clear. Tariff wars and trade wars have no winners, and coercion and pressure cannot solve problems," a spokesperson of the Chinese embassy in Washington said on X.