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With 22,000 rooms in the construction pipeline and 20,000 rooms yet to reopen, it will take longer for New York City to recover.
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The NoMad Hotel will reopen as Hotel Per La following its closure, which was caused by the pandemic.
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Fragrance Group has made its largest UK purchase yet.
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Several of the nation's largest hotel trusts have found ways to cut costs and speed their path to recovery from the pandemic-induced downturn.
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If LA hits 72% occupancy, it will be good but still below 2019's 81% average.
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The company has been embroiled in turmoil as it eyes taking over hotels across the country.
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Panelists at Bisnow’s Chicago Hospitality Summit agreed the best investment strategy for hotels is acquisition as opposed to new development.
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The bill, which came as a surprise to New York City’s hotel industry, passed in a landslide vote Wednesday.
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The Standard London buyers Trinity Investments and Partners Group are investing $500M in global hotels.
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Robust hotel investment is expected this year despite disappointing international travel numbers, stagnant or declining revenue growth, and increasing expenses.
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