Choice Hotels is abandoning its hostile $8 billion takeover bid for Wyndham Hotels & Resorts.

U.S. RevPAR is forecast to increase by 2.6% to $100.50 in 2024, driven by ADR growth of 3.1% to $160.50 while occupancy declines 0.5% to 62.6%.

In January, prices for food eaten away from home were up 30% compared with the same month in 2019. Restaurants’ food bills have stopped their pandemic-era surge, but payroll costs are still climbing.

“Rest and relaxation” jumped ahead of having “a fun time” and spending “time with immediate family” as the main motivator for leisure travel.

Hilton has collaborated with AutoCamp, the outdoor hospitality company, to offer “enhanced outdoor lodging experiences in unique destinations”. The partnership will offer an experience that combines outdoor adventure with the hospitality of a boutique hotel.

Hotels will collectively pay $123 billion in compensation this year, up more than 20% from 2019.

Miami-based investor CGI Merchant Group defaulted on a $285 million loan related to the Washington Waldorf Astoria (previously the Trump International Hotel) it acquired for $375 million in 2022.

Hilton announced a new partnership with Small Luxury Hotels of the World. The SLH partnership will let Hilton customers book stays at participating properties in the SLH portfolio of 560 luxury boutique hotels in 90 counties.

FIFA announced that MetLife Stadium, outside New York, will stage the final match of the world’s biggest sporting event, the 2026 World Cup Final, as the home of the NFL’s Jets and Giants edged out bids from Los Angeles and Dallas.

Blackstone agreed to sell the Arizona Biltmore luxury hotel to London-based private equity real estate manager Henderson Park for $705M. Almost six years ago, Blackstone acquired the property for roughly $400M from Singaporean sovereign wealth fund GIC and spent over $150M on property renovations.