Tag: www.hotels.com

Total Hotel Revenues Fell for the First Time, Further Pressuring Profits

- September 3, 2024 - princis
CBRE US Hotels State of the Union May 2024 Edition CBRE US Hotels State of the Union May 2024 Edition Key Takeaways: Economy Q1 economic growth was slower than expected. 1Q GDP came in at 1.6%, below CBRE’s 2.3% estimate. We expect disappointing 1Q growth will result in a downward revision to CBRE’s full-year 2024 real GDP growth forecast of 2.3%. Inflation is proving stickier than expected, resulting in a 70-bps increase in CBRE’s 4Q Fed Funds rate from 4.4% to 5.1%. Higher leverage and the burndown of COVID savings put…
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170 Ukrainian residents of Leitrim hotel told to move by the end of the month

- August 19, 2024 - princis
Lough Allen Hotel, Drumshanbo, County Leitrim has been home to Ukrainian refugees for the past two years. The hotel, which is housing around 170 people, is predominantly used by women and children. However, the hotel’s contract is coming to an end and the residents must vacate the property by May 31, 2024. It is believed the residents were informed of the move at a recent meeting and hotel management has attempted to have the contract extended to allow the residents to stay at the hotel. The Department of Children, Equality, Disability, Integration and Youth (DCEDIY) said it will provide residents…
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Cornstalk Hotel in New Orleans French Quarter up for sale | BusinessNews

- August 13, 2024 - princis
The historic Cornstalk Hotel, the 208-year-old French Quarter landmark that shut down four years ago during the pandemic and never reopened, is back on the market after a sale of the property fell through earlier this year. The boutique hotel — named for the cornstalk pattern of its cast-iron fence — is one of the historic neighborhood’s iconic properties. Located in the 900 block of Royal Street two blocks from Jackson Square, it has been featured in countless movies and TV shows, most notably Elvis Presley’s 1958 classic “King Creole.” The asking price for the property is $5.2 million, according…
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