Brighter future, says PwC: Consulting firm PwC has revised its 2018 lodging forecast upward, saying 2018’s U.S. ADR, occupancy and demand growth will increase at slightly higher levels than its previous outlook from September. It cited economic momentum, the possibility of tax reform and increased hotel demand from hurricanes in the southwest.
AC in Phoenix: San Diego-based Parallel Capital Partners is developing a 15-story, 200-room AC Hotel by Marriott its Arizona Center property in Phoenix. Construction is slated to begin in April 2018, by LaPour Partners.
Courtyard purchase: West Palm Beach, Florida-based REIT Chatham Lodging Trust acquired the 96-room Courtyard by Marriott Charleston Summerville in South Carolina US$20.2 million, or approximately US$210,000 per room. It opened in 2014. Chatham also has a contract to acquire the 96-room Residence Inn by Marriott, which is under construction nearby.