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Marriott Completes Acquisition of Protea Hospitality

Marriott Completes Acquisition of Protea Hospitality

BETHESDA, Md., and Cape Town—Marriott International has become the largest hotel company in Africa according to published information, and has nearly doubled its presence in its Middle East and Africa region to more than 160 hotels and 23,000 rooms as ...

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Hyatt to Introduce Two New Brands to China

Hyatt to Introduce Two New Brands to China

CHICAGO—As the first Hyatt Place hotel in China prepares to open in May, Hyatt Hotels Corporation announced several new Hyatt Place and Hyatt House projects that will introduce these two Hyatt brands to China. “With the introduction of the Hyatt ...

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RLJ Lodging Trust Sells Additional Hotel for $14.1 Million

RLJ Lodging Trust Sells Additional Hotel for $14.1 Million

BETHESDA, Md.—RLJ Lodging Trust has sold an additional non-strategic hotel, the 182-room Hilton Mystic in Mystic, Conn., for approximately $14.1 million or $77,200 per key. The sale price represents approximately a 7.4 percent capitalization rate on the hotel’s projected 2014 ...

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U.S. Construction Pipeline Finally Gains Some Traction

U.S. Construction Pipeline Finally Gains Some Traction

After being locked in a bottoming formation for nine quarters, the U.S. construction pipeline increased in 2013 to 3,020 projects with 382,958 rooms. This represents a year-over-year (YOY) increase of 10 percent by projects and 12 percent by rooms and ...

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