European Hotelier Betting Big On U.S. Lifestyle Hotels Despite Pandemic
Accor is expanding its presence in the lifestyle hotel sector and buying all of SBE.
Accor is expanding its presence in the lifestyle hotel sector and buying all of SBE.
Service Trust Properties says IHG hasn't paid up, so it will terminate their agreement.
Hotel operators are grateful to see tourist and convention-goers return, but without business travelers, occupancy and revenue will remain too low.
Money from the sale will help fund an 800-room expansion for the hotels.
New digitally driven business models, including ghost kitchens and flexible, long-stay apartments, have created new real estate opportunities.
Some $100M was allocated for the idea in April's state budget.
Business travelers are returning to the road, but not fast enough for hotels.
More than 36 million people visited Denver in 2022.
The investment giants are planning a $1.94B CMBS offering to refinance the debt covering Extended Stay America hotels in 33 states.
San Diego is a top destination, but hotel operators still need to keep on their toes.
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