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.

$1 billion Four Seasons Telluride resort is being planned by Fort Partners and Merrimac Ventures. The project will feature 52 guest rooms, where the owners expect to charge an average rate of more than $1,000 a night. Prices are still being worked out for the 68 residences, but the plan is to list one-bedrooms starting at more than $2 million. They expect to break ground late next year.

Choice Hotels International’s hostile buyout offer of rival Wyndham Hotels & Resorts has entered a new phase: recriminations. Choice Hotels said on Wednesday that institutional shareholders representing 40% of Wyndham’s total outstanding shares have talked with Choice about its recent offer to exchange their shares for Choice shares or cash.

Choice Hotels is launching a hostile takeover offer for Wyndham Hotels & Resorts after repeatedly being rebuffed in its effort to strike a friendly deal.

Construction industry extended-stay lodging bookings are up 120% in the two years through the end of November. More broadly, the industry has outspent all other sectors on work travel overall by 9.2% in the twelve months through August as more workers temporarily relocate to live around project sites.

Chains want to keep travelers and hotel developers loyal through proliferating offerings. Marriott has 32 brands include the apartment-like StudioRes coming next year. Hilton has 22 brands, such as premium-economy Spark and an extended-stay chain, temporarily dubbed Project H3. Accor has more than 40 brands.

Apartments by Marriott Bonvoy began taking reservations. The typical unit offers private bedrooms, a separate living room, full kitchen, and washer/dryer but does not provide traditional hotel services such as food and beverage, meeting spaces or daily housekeeping.

Another bid by Choice Hotels to strike a deal with Wyndham Hotels & Resorts has fallen flat. After months of on-and-off talks for a deal that would unite two of the biggest budget hotel owners in the country, Wyndham’s board received a letter from Choice to restart negotiations and strike a deal with Wyndham before the end of the year. Choice hasn’t boosted its cash-and-stock offer, currently worth $86 a share. That is down from $90 given a decline in Choice shares since the takeover offer was made in October. Wyndham views the offer as too low and worries it would saddle the combined company with too much debt.

The Trump International Hotel Waikiki, in Honolulu, Hawaii, is set to rebrand under Hilton’s luxury LXR Hotels & Resorts brand. The hotel will be renamed Wākea Waikiki Beach and managed by Hilton beginning in February 2024, after the property owner Irongate and Trump Hotels came to a “mutual agreement” to sever ties after a “significant buyout of the hotel management and license agreements.”

Six Flags (SIX) and Cedar Fair (FUN) are joining forces in a roughly $2 billion all-stock deal to form a powerhouse in the regional theme-park industry. Six Flags shareholders will receive 0.58 share of common stock in the new company for each share they own and Cedar Fair unit holders will receive one share for each unit they own. The company is structured as a master limited partnership.