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.

Highgate announced it will acquire hotel brand Viceroy Hotels & Resorts for an undisclosed sum, adding Viceroy’s 11 hotels in operation and two under development to its portfolio.

Wynn Resorts announced the completion of a planned sale of land and other real estate assets at its Encore Boston Harbor resort casino for $1.7 billion in cash to Realty Income Corp. Wynn will continue to operate the Encore Boston Harbor five-star resort via a sale-leaseback arrangement with Realty Income, the San Diego real estate investment trust. The lease is valued at $100 million annually for a 30-year term. Rent at the property will escalate at a 1.75% annual rate for the first 10 years of the lease.

Blackstone Inc. has agreed to sell its 49.9% stake in two Las Vegas hotels in a deal that values the properties at $5.5 billion. The New York investment firm is selling its stake in the MGM Grand Las Vegas and the Mandalay Bay to Vici Properties Inc., which owns the other 50.1% stake in the properties. Blackstone would receive $1.27 billion in cash, and Vici would assume Blackstone’s share of some $3 billion in debt. The sale would bring a profit of more than $700 million for Blackstone in less than three years.

Airbnb Inc. is launching a listing service for rental apartments with some of the biggest landlords and property managers in the country. The new service will feature more than 175 buildings where short-term sublets are allowed. Landlords who partner with the new listing service will get a share of the total booking revenue from Airbnb sublets—20% in most cases.