STR: Pre-Memorial Day U.S. Hotel Performance Decreased
HENDERSONVILLE, Tennessee—As expected ahead of Memorial Day, U.S. hotel performance decreased from the previous week, according to STR’s latest data through May 27, 2023. Year-
Procaccianti Companies Announces Acquisition of the Presidents’ Quarters
PROVIDENCE, Rhode Island—Procaccianti Companies announced the acquisition of the Presidents’ Quarters and the development of the Sabal House Savannah. The project is a joint ve
My Place Hotels of America and Rimrock Companies Enter Development Agreement
ABERDEEN, South Dakota—My Place Hotels of America entered into a two-phase franchise and development agreement with Rimrock Companies for 10 extended-stay hotels throughout the U
NewcrestImage and Coury Hospitality Enter Partnership With 50 Percent Ownership Stake
DALLAS—NewcrestImage has entered into a strategic partnership with Coury Hospitality, based in Dallas, with a 50 percent ownership stake. This alliance marks a venture between th
Hoteliers Eyeing Interest Coverage: Challenge Increases This Year as Higher Rates Prevail in the United States
According to CBRE’s February 2023 Investment Performance forecast, total revenues for the average U.S. hotel returned to 2019 levels in 2022, but the recovery of hotel profits wi
This Week’s Comings & Goings
Highgate announced the appointment of Mike Uwe Dickersbach to chief digital officer. In this newly created role, he will be responsible for leading Highgate in identifying and impl
