Booking, Delta, Royal Caribbean, and Marriott are all posting massive numbers, and every headline screams recovery. But when you pull the hotel sector apart from the travel sector, the story your P&L is telling looks nothing like the one Wall Street is celebrating.
A 142-key Fairfield is about to plant the flag for Marriott's midscale push into the UK, anchored by Jaguar Land Rover and Aston Martin headquarters demand. The real question is whether the playbook that works in American secondary markets translates to a country that doesn't know what Fairfield is.
A new SpringHill Suites just opened in Oxnard, California, and the press release reads like every other branded select-service ribbon-cutting you've ever seen. The interesting part is what DKN Hotels is betting on... and what that bet actually costs per key when you strip away the champagne.
A hospitality REIT bought a suburban Philadelphia DoubleTree for $22.3 million in 2022, closed it last November, and just won zoning approval to convert all 253 rooms into 213 apartments. The math that killed this hotel is the same math staring at half the aging select-service properties in suburban America right now.
