This year’s Super Bowl pushed revenue per available room to $419, the second-highest level for a Super Bowl weekend on record.

A joint venture between Credit Suisse Asset Management and Trinity Real Estate Investments have acquired The Diplomat Beach Resort in Hollywood, Fla. The 1,000-room resort sold for $835 million, the third largest single-asset hotel sale ever in U.S. history,

Lodging executives and owners said conversions have been a key driver of growth coming out of the pandemic since lenders are reluctant to finance new hotels.

There were roughly 612,000 hotel rooms in the active development pipeline at the end of last year, down 2.6% from the year before and 6.1% lower than in 2019. The number of projects entering the pipeline is also falling: About 15.6% fewer rooms were in the planning phase at the end of 2022 compared with a year prior.

Despite strong RevPAR growth, GOP margins have declined for the sixth straight month due to the reopening of amenities and the impact of inflation.

Field & Stream Lodge Co. will operate hotels around national parks, woods, ski mountains, lakes and desert land across the U.S. It is aimed at families and outdoor enthusiasts. Starwood Capital Group and AJ Capital Partners say they are targeting 125 U.S. markets.

The latest forecast for the U.S. hotel industry indicates that real, inflation-adjusted revenue per available room will not fully recover until 2025, despite RevPAR on a nominal basis recovering to pre-pandemic levels in 2022.

In the third quarter this past year, business travel reached 71% of prepandemic levels. That is up from 35% during the same quarter in 2021. Small and medium-size businesses are driving the recovery with transactions by this segment reaching 80% of prepandemic levels in the third quarter.

While GDP is expected to dip, STR’s latest forecast for 2023 has U.S. hotel demand increasing 2.8% and RevPAR, increasing 3.4%. RevPAR growth is expected to be evenly split between higher occupancy and an increase in ADR, each growing at the same rate of 1.7%.

Developers of the long-delayed Fontainebleau resort and casino have obtained $2.2 billion in construction financing. The 67-story resort is under construction on 25 acres on the northern end of the Strip near the Las Vegas Convention Center. Plans include 3,700 hotel rooms, 550,000 square feet of convention and meeting space, and several gambling, dining and retail venues.