August saw a large amount of hotel news, primarily with record-breaking second quarter results, new partnerships and acquisitions, first looks at upcoming hotels and a potential American hotel worker strike that could impact travelers in September.
There’s been one major news that might impact the industry in September: the threat of the nation’s biggest hotel worker strike in September.
Late this month, national hotel labor union UNITE HERE said that over 10,000 hotel employees in major cities across the nation could strike when their contracts expire by the end of August. Members of the union are voting to strike for better wages, benefits and an end to COVID-related staffing cuts. If it occurs, it’ll make staying at Marriott, Hilton, Omni, Hyatt and other hotels a bit more challenging for travelers.
We also celebrated some first looks at exciting and upcoming hotels.
IHG Hotels & Resorts announced a new Intercontinental Hotels & Resorts-branded hotel in Orlando, set to open in 2028. The sophisticated hotel will offer 700 rooms and suites, five dining and drinking venues, large business and event venues and more.
Club Med, the all-inclusive resort company, announced its renovation of two resorts: the Club Med Cancun and Club Med Punta Cana. It also announced that it expects its Club Med Musandam Oman, located in Oman, to open in 2028.
Universal Helios Grand Hotel, a Loews Hotel (Photo Credit: Courtesy Universal Orlando)
Additionally, there’s another exciting Orlando hotel getting its time in the spotlight: the Universal Helios Grand Hotel. Operated by Loews & Co. when it opens in 2025, the brilliantly designed hotel will be a destination-focused property within the heart of Universal Orlando’s future park, Universal Epic Universe. The property will offer 500 rooms, a zero-entry pool, game room, rooftop lounge and more.
August was the month when many hotel giants reported their second quarter earnings statements, and a strong development and travel industry meant that many broke records during the second quarter.
Hyatt, for example, recorded the highest hotel fee revenue in company history, netting $275 million. It also celebrated a record high 48 million World of Hyatt members and a record development pipeline of 670 hotels and resorts, which is approximately 130,000 rooms.
Hilton’s productive second quarter actually led to the company increasing its overall 2024 profit forecast, expecting a net income somewhere around $1.5 billion. This is partly due to several acquisitions and partnerships, which we will discuss below, but also the company’s record-breaking development pipeline, which numbers 508,000 rooms.
Meanwhile, Marriott recently celebrated its 9,000th hotel opening, with the St. Regis Longboat Key. The company is also enjoying a profitable development season, with 230 signed contracts for future properties in 57 countries.
Speaking of the hotel giants, a lot of them also made new partnerships and acquisitions this August.
Marriott established a long-term licensing agreement with Sonder, which will add around 9,000 rooms to a new “Sonder by Marriott Bonvoy” portfolio this year.
Exterior of The Standard London. (Photo Credit: The Standard Hotels)
Hyatt, meanwhile, confirmed the months-long rumors that it was interested in purchasing Standard International, a hotel company that owns The Standard and Bunkhouse Hotels, though the details are yet to be finalized.
The luxury Leela Palaces, Hotels and Resorts brand recently celebrated a new partnership with the World Travel & Tourism Council. The two will now jointly support each others’ progress on sustainability and responsible growth of the travel and tourism industry.
Lastly, and in a little good news, IHG Hotels & Resorts partnered with global NGO Action Against Hunger in a multi-year agreement to help support an end to food insecurity and hunger across the globe.
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