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The lawsuit, filed on Thursday, involves three national hotel chains and Bay Area locations.
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Developers are aiming for a mid-2021 delivery on the timeshare project.
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Human trafficking cases against Houston hotels push national chains into federal court.
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Hotel owners voiced optimism for 2022, with leisure exceeding 2019 levels and business travel projected to return to full capacity in the coming months.
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The largest hotel companies reported better-than-expected earnings in the first quarter and raised their full-year projections due to a business travel bump.
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The industry has clawed its way back from the dim days of the pandemic, with U.S. hotel occupancy averaging 63% during 2023.
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Hospitality executives projected confidence in the strength of business and group travel in Q1 earnings calls. They were less certain about leisure trends.
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Some hotel chains and REITs lowered growth expectations for the year in response to a softening market.
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A class-action suit claiming that LuxUrban artificially inflated its share prices and defrauded investors can move to pretrial discovery, a federal judge rules.
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Hyatt's $2.6B acquisition is set to close next year.
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