U.S. transaction price falls: A shift in the U.S. hotel transaction mix led to a 12% drop in investment price per room, according to a report by STR and Hotel Brokers International. Hotel transactions totaled nearly US$20.1 billion, but the average total investment per room declined more than US$30,000 (to US$240,000) from the 2016 record of US$272,000.
Shamin in NYC: Shamin Hotels of Virginia bought the 81-room Hampton Inn in Lower Manhattan for US$32.4 million.
Read the story in the Richmond Times-Dispatch
Aston Waikiki: Xenia Hotels & Resorts completed the previously announced sale of the leasehold interest in the 693-room Aston Waikiki Beach Hotel in Oahu, Hawaii, for US$200 million.
California housekeepers: The state of California adopted regulations that are the first in the country to set ergonomic standards specifically for hotel housekeepers. The law, which is effective July 1, requires employers to establish and maintain an injury prevention program.