Hotel room revenues dropped more than 6% year over year in the third quarter for Park Hotels & Resorts, and company officials are lowering their fourth-quarter projections. But Park executives stress the company remains in a strong position financially.
With headwinds from a slowdown in travel and tough comparisons in Houston, Xenia Hotels & Resorts executives pointed to steady group performance as a reason for optimism for the remainder of the year.
Every autumn, Salem, Massachusetts, sees a spellbinding influx of tourists swooping into the area to experience its rich history, New England small town charm, fall foliage and bewitching culture.
Third-quarter hotel trading results surprised to the upside, as revenue per available room returned to growth, following a weak first half of the year, according to CoStar data.
Six Flags Entertainment, North America's largest regional amusement park operator, is struggling with weak attendance and financial fallout from a $2 billion merger last year. Now it faces scrutiny from stakeholders who include three-time Super Bowl champion Travis Kelce.
Knight Frank hosted its annual hotels roundtable at its Baker Street offices, with a panel of experts discussing the key themes affecting the sector. CoStar News moderated a lively debate on topics including what the Chancellor should introduce in the upcoming Budget, and what the challenges are for operators and investors.
There has been a lot of concern over the value proposition and overall demand in the Las Vegas market this past summer, but MGM Resorts International executives said they have been able to navigate the present challenges to keep guests happy and coming back.
PHOENIX — IHG Hotels & Resorts' newest hotel brand, Ruby Hotels, is in the early stages of its expansion into the U.S., but an IHG executive says Ruby will fill a whitespace in the company's portfolio in top 25 markets.
The Federal Reserve cut interest rates Thursday, as many expected, but Fed Chairman Jerome Powell warned that a December cut “is not a foregone conclusion.”
A major conference in any industry is a helpful barometer, and the recent Hotel Investment Conference Asia Pacific in Singapore provided some key insights for the hospitality business in Asia.
PHOENIX — Getting a new-build hotel project across the finish line has been a difficult proposition in recent years, so owners and operators are turning to renovations and repositionings.
With hotel metrics down annually across the board, professionals in the hospitality and travel industries who need something to look forward to can check out Expedia Group's annual report of travel trends and top destinations.
Hotel key performance metrics were markedly down in the third quarter for Wyndham Hotels & Resorts as the broader travel industry faces a monthslong slowdown.
