Latest news: 2026 perfect storm; Davidson adds in Chicago; Outset by Hilton debut

Truist view from NAREIT. With a perfect storm of 2026 holiday shifts im the U.S., the consensus outlook at this moment for 2026 RevPAR growth generally looks better (maybe +100-200bps) than the +1% to 1.5% growth most economic-based forecasts are calling for, according to analysts at Truist Securities after attending a NAREIT conference this week. C. Patrick Scholes wrote there is no indications of a 4Q25 RevPAR miss but probably not a beat either. He added that management said it is hopeful a well-received World Cup will help turn-around international visitation longer term. Scholes also said expect public hotel companies to start the year with conservation guidances in February/March to avoid being blind-sided by any surprise announcements on economic and geo-political policy.

Down week in US. The U.S. hotel industry from November 30 to December 6 reported negative year-over-year comparisons, according to CoStar data. Occupancy was 57.2% (-3.2% YOY); ADR was $160.11 (-0.5% YOY); and RevPAR was $91.57 (-3.7% YOY). Overall, 17 of the Top 25 Markets saw an occupancy drop. Among the Top 25 Markets, Tampa reported the steepest decreases across each of the three key performance metrics: occupancy (-20.5% to 66.1%), ADR (-10.2% to $155.68) and RevPAR (-28.7% to $102.91). The market’s performance was impacted by the elevated displacement demand period that followed Hurricane Milton in 2024. Seattle registered the second-largest performance declines: occupancy (-16.4% to 55.5%), ADR (-9.8% to $143.21) and RevPAR (-24.6% to $79.50). 

Davidson adds in Chicago. Davidson Hospitality Group’s lifestyle brand Pivot has been selected by Jordache Enterprises to manage the 182-room Hotel Lincoln, JdV by Hyatt in Chicago’s Old Town neighborhood. Davidson also operates in the area the Hotel Zachary at Gallagher Way, Tribute Portfolio, next to Wrigley Field; the Hyatt Centric Magnificent Mile; and Hyatt Lodge Oak Brook Chicago.

First Outset Collection by Hilton. The 138-room Slackline Moab, Outset Collection by Hilton, marks the launch of the brand designed for outdoor enthusiasts. It is positioned as a modern basecamp near Arches and Canyonlands National Parks in Utah. Slackline Moab features guided outdoor experiences, gear-ready rooms, trail-friendly dining and amenities designed for explorers. The hotel includes outdoor fire pits and a lobby that doubles as a community hub. The Little Station Coffee + Kitchen onsite restaurant serves shareable snacks, hot breakfast, coffee, beer, wine and grab-and-go items. Trail-friendly meals and shareable snacks include cauliflower-crust pizza, pretzel bites, breakfast sandwiches and smoothies. A gear shop is stocked with essentials and local merchandise. There is also an outdoor pool and flexible meeting rooms.

San Diego refi. JLL Capital Markets has arranged a refinancing package consisting of a senior loan from BMO Bank N.A. and a mezzanine loan from MetLife Investment Management for Huntington Hotel Group's 350-key hotel portfolio at the Liberty Station mixed-use development in San Diego. The borrower secured a floating-rate financing package with up to five years of term. The dual-branded hospitality complex includes the 200-room Courtyard by Marriott and 150-room Homewood Suites by Hilton.

L’oscar refi. The 39-room L’oscar London, owned by Aevis Victoria and managed by Michel Reybier Hospitality, has closed on a senior debt facility for refinancing provided by Alpha Property Lending and arranged by RCP Finance. The hotel that opened in 2018 occupies a restored Grade II listed former Baptist church in the heart of Midtown Holborn and was acquired by Aevis in 2022.

B&B sales. French portfolio manager MNK Partners, on behalf of its MNK Global Core fund, has acquired the 140-room B&B Hotel Wrocław Centrum and the 105-room B&B Hotel Katowice Centrum in Poland in a sale and leaseback transaction with owner-operator B&B Hotels. Established in 2024, this is the fund’s first acquisition in Poland.

Gaw sells in Portugal. French private equity firm Extendam and French operator Experimental Group have acquired the luxury, 85-room Infante Sagres Porto in the north of Portugal from Hong Kong-based private equity firm Gaw Capital. Extendam plans to renovate the hotel’s guest rooms and common areas and reopen the property under the lifestyle Experimental brand in autumn 2026.

São Paulo races to record. The Brazilian Grand Prix race pushed São Paulo’s ADR and RevPAR to all-time highs, according to November preliminary data from CoStar.  November 2025 was the market’s first month on record with ADR above the BLR 1,000 mark. In addition to the jumps in ADR and RevPAR, São Paulo’s monthly occupancy was its highest since 2011. The 2025 Grand Prix race led to peaks across the three key performance metrics. ADR (BRL 1,699.90) and RevPAR (BRL 1,573.32) peaked November 7, while occupancy (93.6%) climbed to a monthly high the night before. Both ADR and RevPAR levels were the highest ever recorded in the market. São Paulo’s ADR to remained above the BRL 1,000 mark for seven days (November 4-10), while RevPAR surpassed the BRL 1,000 on two nights before the race as well.

Qatar's strong November. Several events, including Formula 1, helped Qatar’s hotel industry post its highest November occupancy level since 2014, according to preliminary data from Costar. When excluding the country’s World Cup host year, ADR and RevPAR were the highest for November since 2013. Daily occupancy peaked on November 24 (94.2%) during the Doha Film Festival, which was also the night before MWC Doha began. Matching a level recorded on April 1, this was the market’s highest occupancy since February of this year. Both ADR (QAR 875.56) and RevPAR (QAR 809.10) peaked on November 28, the first night of the Formula 1 Grand Prix, which was further boosted by the final day of the Doha Film Festival falling on the same evening. These levels were the highest since the World Cup in December 2022. The market’s daily occupancy levels remained above 70% throughout the month.

Melbourne strength. A mix of events lifted Melbourne ADR and RevPAR to all-time highs for November, according to preliminary data from CoStar. Forward bookings for December are also trending well ahead of last year. In addition to the ADR and RevPAR highs, the market posted its highest occupancy level for any month since late 2019. Melbourne’s ADR (AUD347.80) and RevPAR (AUD311.23) reached monthly highs on November 1, which was the first night of the Melbourne Cup Carnival and the night following the first Oasis Live 25 Tour concert in the city. That was the only night Melbourne’s RevPAR surpassed the AUD300 mark in November. The only other occasion the market’s ADR exceeded AUD300 was on November 22 (AUD 301.63), when the opening night of Giro della Donna 2025 coincided with the Boost Mobile AUSX Open Supercross. Melbourne’s daily occupancy peaked (at 94.7%) on the first night of the AC/DC Power Up Tour on November 12. The second-highest occupancy level (92.2%) was posted the night before.