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1. Marriott signs seven-hotel deal with Ventive Hospitality
Marriott International signed an agreement with Ventive Hospitality to open seven hotels comprising 1,548 rooms across five brands in India and Sri Lanka, according to a news release. This includes brand debuts such as a Ritz-Carlton Reserve in Sri Lanka, Marriott Hotels & Resorts in Varanasi, Courtyard by Marriott in Mundra, and Moxy in Pune.
Ventive Hospitality's portfolio includes 11 managed hotels in India and the Maldives. All seven properties in the Marriott deal are expected to open in 2030.
2. Delta reinstates 2025 profit outlook
Delta Air Lines reinstated its 2025 profit outlook ahead of the company's second-quarter earnings call on Thursday, CNBC reports. The airline expects full-year earnings of $5.25 to $6.25 a share, down from its forecast in January of more than $7.35 a share.
In the second quarter of 2025, Delta had an adjusted revenue of about $15.51 billion, up 1% year over year. Its net income totaled $2.13 billion, or $3.27 a share, which is up 63% compared to the same quarter last year.
“People are still traveling,” CEO Ed Bastian said. “What they’ve done is they’ve shifted their booking patterns a little bit. They’re holding off making plans until they’re a little closer in to their travel dates. And so that’s shifted some of our bookings and yield management strategies.”
3. Hoteliers focus on franchising in Africa
Hotel experts in Africa believe the continent is ready for a wave of hotel franchising, but companies have to be flexible because most contracts are owner-centric, CoStar News' Terence Baker reports from the Future Hospitality Summit Africa.
Neil George, partner and executive director of Aleph Hospitality, said there's a need for adaptability, flexibility and understanding from all stakeholders since Africa is a rapidly developing.
“Flexibility in agreements, in fees and in product and quality. And in control, too. If [the owner wants] to get involved in our business, that’s fine. After all, it’s their hotel,” George said.
4. Largest hotel in Oakland goes back to lender
Invesco CMI Investments, an affiliate of Invesco Real Estate, purchased the 500-room Oakland Marriott City Center Hotel for $70.2 million at a foreclosure auction after the hotel defaulted on a loan from Invesco back in February, CoStar News' Rachel Scheier reports. The downtown property was bought by GAW Capital Advisors USA for $143 million back in 2017.
The property joins a list of other Bay Area hotels that have defaulted on their loans over the past several years, including the dual-branded AC Hotel Oakland Downtown and Residence Inn Oakland Downtown earlier this year.
Invesco CMI bought the loan in May 2024 from the original lender, Nataxis New York Branch, Scheier reports. The hotel houses a newly renovated headquarters and practice facilities of the Golden State Valkyries, a WNBA team that began its first season this May.
5. Trump plans tariff on Brazilian imports
U.S. President Donald Trump said he plans to impose a 50% tariff on all Brazilian imports starting on Aug. 1, the New York Times reports. Trump is levying the tariffs in part due to the country's treatment of former President Jair Bolsonaro, who is facing trial for attempting a coup.
The United States is Brazil's second largest trading partner after China, so any tariff would have major ramifications.
In a letter to Brazil's current President Luiz Inácio Lula da Silva, Trump said the tariff is needed to "have the level playing field we must have with your country" and "to rectify the grave injustices of the current regime."