Here are CoStar's top hospitality stories of 2024

Hyatt Hotels Corp. executives also announced the closed sale of the Hyatt Regency Aruba Resort Spa and Casino for $240 million with signed deals in place to sell two more hotels for a combined $310 million.

Aimbridge Hospitality filed a lawsuit against Avion Hospitality, alleging it has lost tens of millions of dollars due to Avion obtaining and using confidential property information to its advantage in persuading hotel owners to switch management companies.

Aimbridge Hospitality named Craig Smith of Marriott International as its new CEO starting March 18 after the departure of Mike Deitemeyer at the end of 2023.

The current challenging environment for new U.S. hotel development could see further improvement as the Federal Reserve considers reducing interest rates.

Summit Hotel Properties President and CEO Jonathan Stanner said the company currently has three hotels under contract to sell for a combined $84 million after selling six in 2023.

CoStar analysts Jan Freitag and Daryl Cronk dissect what recent air passenger data means for the U.S. hotel industry.

Chairman and CEO Thomas Baltimore Jr. said the company's hotels will benefit in 2024 from strong citywide event calendars in Chicago, Honolulu, New Orleans, San Diego and Miami.

In a podcast interview, SCP Hotels co-founder and CEO Ken Cruse talks about how his company's growth has prepared it to look at scale and the bigger role sustainability is playing in hospitality.

Service Properties Trust executives expect higher than normal capital expenditures for the next "two or three years."

Blackstone Real Estate is selling the 450-room Turtle Bay Resort to Host Hotels & Resorts for $725 million.