📈 Conversion-Led Growth Propels Choice Hotels Forward

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📈 Conversion-Led Growth Propels Choice Hotels Forward

Choice Hotels is experiencing significant growth in its domestic pipeline, driven by a 65% year-over-year increase in conversion rooms and strong developer interest in conversions. The company’s focus on conversions, extended stay offerings, and midscale brands has contributed to both pipeline expansion and financial growth. Read More.

💰 Service Properties Trust Proceeds with Hotel Sales

Service Properties Trust is actively selling off lower-performing hotels, recently closing deals for 16 properties totaling $113.2 million, as part of a strategy to improve the quality of its hotel portfolio. The company is shifting its focus towards higher-quality, leisure-oriented hotels while increasing capital expenditures on its remaining properties. Read More.

💸 Braemar Completes Refinancing for Five Hotels

Braemar Hotels & Resorts has secured a $407 million refinancing for five hotels with a loan that extends up to 2029, featuring a floating interest rate of SOFR + 3.24%. This refinancing lowers the company’s cost of capital and improves its debt maturity schedule. Read More.

🏨 MHG Hotels Purchases Homewood Suites in Bloomington

MHG Hotels has strategically acquired the Homewood Suites Bloomington in Indiana, further expanding its presence near Indiana University. The acquisition aligns with the company’s strategy to grow in key markets, complementing its existing properties and ongoing developments in the Bloomington area. Read More.

🛎️ IHG Hotels & Resorts Releases Mid-Year Financial Report

IHG Hotels & Resorts reported strong half-year results ending June 30, 2024, with a 12% increase in operating profit and adjusted EPS, record signings, and significant growth in its global pipeline. The company is on track to return over $1 billion to shareholders, driven by robust system growth, margin expansion, and strategic development activities. Read More.

💡 AHLA Advocates for Hotel Industry Jobs on Multiple Fronts

Hotels are struggling to maintain and expand their staff despite offering higher wages and more benefits, due to a nationwide workforce shortage. The AHLA is actively advocating for expanded H-2B visas and supporting workforce development initiatives to help the industry meet growing demand and overcome staffing challenges. Read More.

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