Editor's Note: Some linked articles may be behind subscription paywalls.
1. Prices blamed for underwhelming World Cup turnout
The World Cup officially kicked off Thursday, but speculation remains that high prices are playing into weaker-than expected travel demand, Reuters reports.
It is "overall a disappointment. There's no other word that I can say," Vijay Dandapani, CEO of the Hotel Association of New York City, told the news outlet.
The Athletic reports there was a noticeable amount of empty seats during the day 1 matchup between South Korea and the Czech Republic, and high ticket prices might have played a part.
2. Braemar to sell three hotels for $437.5 million
CoStar News Hotels' Bryan Wroten reports Braemar Hotels & Resorts has reached a deal to sell three more hotels in its plan to fully sell off its portfolio of luxury properties.
SEC filings show the Ritz-Carlton Sarasota in Sarasota, Florida; the Hotel Yountville in Yountville, California; and Bardessono Hotel and Spa — also located in Yountville — will sell for a combined $437.5 million.
Following the completion of those deals, the real estate investment trust will be down to nine hotels.
3. JLL exec sees uptick in US hotel deals
Kevin Davis, Americas CEO of JLL's Hotels and Hospitality group, said he's seeing an increase in U.S. hotel deals and points to cheaper debt as a big reason for that shift, CoStar News Hotels' Stephanie Ricca reports.
"A lot of the investors in our sector tend to borrow against floating rate, which is tied to the Fed funds rate ... and that continues to be relatively low," he said. "The lower cost of debt, the ready availability of debt, has contributed to an increase in transaction volume."
4. Summit CFO leaves
The chief financial officer of hotel REIT Summit Hotel Properties is leaving the company, CoStar News Hotels' Natalie Harms reports.
Trey Conkling, who has worked with Summit for five years, is leaving June 15 for what the company described as personal reasons.
President and CEO Jonathan Stanner will fill the role until a permanent replacement is found.
5. US sees slight jump in Canadian travelers
While overall visitation from Canadians to the U.S. remains down compared to before a wide-reaching boycott began, there have now been four straight months of year-over-year increases, Forbes reports. Visitation grew 10% in May, although it was down 15% compared to May 2024.
Boycotts began in early 2025 when U.S. President Donald Trump started saying he thought the U.S. should annex Canada.