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News
6Banyan Acquires 70% of Newmark for $33 Million
Banyan Group is acquiring a 70% stake in Newmark Hotels and Reserves for approximately 533 million rand ($33 million), in a deal that values the company at 756 million rand.
Dubai and Abu Dhabi Will Not Recover 2025 Hotel Levels Before 2028
STR and Tourism Economics lowered their forecasts, viewing that occupancy in Dubai and Abu Dhabi will remain below 2025 levels until 2028 despite resilient regional demand.
Rotana Says Q4 Bookings Are 'Way Down' and Room Rates Drop Between 5% and 8%
Rotana CEO Philip Barnes said that Q4 business on the books is 'way down' from last year, with occupancy in the low 70s and lower rates down between 5% and 8%.
HVS Expects Strong Autumn Season in US After Hotel Revenue Grows 10%
HVS expects a strong autumn season in the US following room revenue growth of over 10% and the sale of nearly 1,000 hotels in the first half of the year.
Choice Hotels Acquires Harvest Hosts for Around $130 Million
Choice Hotels agreed to purchase Harvest Hosts for about $130 million in cash, in a deal slated to close on October 1.
US Hotel Room Revenue Rises 14.2%, Led by San Francisco
US hotel room revenue rose 14.2% in a week, with an occupancy rate of 69.7% and an average daily rate of $179.43.