Blackstone has agreed to sell the economy hotel chain Motel 6 and sister brand Studio 6 to India’s Oyo in an all-cash transaction valued at $525 million. The private equity giant acquired Motel 6 in 2012 from Accor for $1.9 billion. Blackstone exits its 12-year hold of Motel 6 having more than tripled its investors’ capital and generating over $1 billion in profit through executing an asset-light campaign, selling off owned assets and focusing on franchising.

The number of U.S. hotels with an average daily rate of $1,000-plus in the first half of this year was 80, compared with 22 in 2019. In Europe, the number of places tripled, to 183.

Hotels and airlines expect Americans to partake in less leisure travel and pare down the trips they take in the months ahead.

More hotels are introducing specialty ‘wellness’ accommodations that bring the gym into the guest room.

In comparing spreads of hotel deals closed in January and closed mid-year, it’s 50 to 75 basis points more today than at the beginning of the year.

The 3,000-room casino hotel that changed Las Vegas when it opened in 1989 will close on July 17.

Many less-efficient vessels were scrapped, and there will be slow growth in 2026 and 2027 as the absence of industry orders during the height of the pandemic works its way through specialized shipyards.

According to government data, total hotel employment stands at roughly 1.92 million. This means there are 191,500 less workers in the industry than there were in February 2020, reflecting the scarcity of available employees since the onset of the pandemic.

Airbnb hosts in the U.S. has grown to more than 790,000, an eightfold increase since 2014 and up 35% since the start of the pandemic.

Host Hotels & Resorts has entered an agreement to acquire fee simple interest in the 450-room Turtle Bay Resort on the North Shore of Oahu, Hawaii. The price for the transaction, which includes a 49-acre land parcel entitled for development, is stated by Host Hotels as approximately $680m. Blackstone Real Estate acquired the hotel in 2018 for $332m. Host Hotels intends to transition management to Marriott and rebrand the resort under The Ritz-Carlton brand.