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1. Hard Rock plans $850 million resort casino in San Juan
Hard Rock International intends to build the $850 million Hard Rock Hotel & Casino San Juan in Puerto Rico, according to a news release. The company will work with Misla Hospitality, Stonecrest Investment Management and the Interfin Companies to develop the project, which is expected to see construction start in mid-2026.
The property will have approximately 415 rooms, 58 suites and 186 branded residences. It will also include event venues, a recording studio and local memorabilia. It is slated to open in 2029.
2. Gencom buys Ritz-Carlton New York, Central Park
Investment firm Gencom has bought the 253-key Ritz-Carlton New York, Central Park, the company's third hotel acquisition in the city in recent years, according to a news release. It bought the InterContinental New York Times Square in December 2025 as part of a joint venture and the Thompson Central Park in 2024.
“Gencom continues to see compelling long-term opportunities in New York City, particularly for luxury assets with enduring global appeal. The Ritz-Carlton Central Park is one of the most iconic properties in the city, distinguished by its park frontage and position at the center of Manhattan’s luxury ecosystem,” said Karim Alibhai, founder and principal of Gencom. “This acquisition builds upon our growing New York platform and further strengthens our presence in one of the world’s leading hospitality markets.”
3. Bay Area hoteliers expect Super Bowl demand boost
Hoteliers in the San Francisco Bay Area are counting on a significant jump in occupancy and rate from Super Bowl LX this weekend in Santa Clara, reports CoStar News Hotels' Trevor Simpson.
Justin Gammon, regional director of operations at Driftwood Hospitality Management, said the big game is providing a lot of opportunity for hotel compression in the area.
"That compression is not exclusive to our hotel. A lot of hotels in market have that group base, and that group base is providing a lot of opportunity, a lot of compression on the remaining inventory, allowing hotels to sell at rates that they typically wouldn't sell out on a weekend in that market," he said.
4. Newmark arranges $99 million refinancing for DC InterContinental hotel
Newmark arranged a $99 million loan for CarrAmerica to refinance the InterContinental Hotel Washington, D.C. - The Wharf, according to a news release. Newmark secured the loan through Morgan Stanley.
The hotel is located in The Wharf's master-planned development. It has access to a mix of Class A office space, multifamily residences, retail, dining and entertainment.
5. January US job cuts highest since 2009
Employers in the U.S. announced 108,435 job cuts in January, a 118% year-over-year increase and the highest number of cuts for the month since 2009, reports global outplacement and executive coaching firm Challenger, Gray & Christmas. There were 35,553 job cuts announced in December 2025.
“Generally, we see a high number of job cuts in the first quarter, but this is a high total for January. It means most of these plans were set at the end of 2025, signaling employers are less-than-optimistic about the outlook for 2026,” said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.