Latest news: Price fixing suit dismissed; Ready adds Ritz in Portland; historic reno in Cali

Price fixing suit dismissed. Hilton, Hyatt Hotels and Wyndham Hotels & Resorts have convinced a federal judge to dismiss claims they conspired to fix hotel room prices through a shared pricing algorithm, according to a story in Bloomberg Law. The ruling adds to an evolving but mixed body of case law regarding whether price-setting software among competing hotels constitutes the same offense as price fixing. Judge Jeffrey White of the U.S. District Court for the Northern District of California said in a July 18 ruling that the plaintiffs, hotel guests, lacked sufficient facts to allege an unlawful agreement among hotel chains.

Ready Capital acquires in Portland. New York City-based Ready Capital Corp. has secured ownership of Block 216 Tower, a mixed-use project in Portland, Oregon. Ready acquired the construction loan on the project through its 2022 merger with Mosaic Real Estate Investors. The prior owner agreed to a consensual deed-in-lieu arrangement in which Ready Capital assumed ownership and control. The completed project includes a 251-key Ritz-Carlton hotel, a 132-key Ritz-Carlton Residences, 159,000 sq. ft. of Class-A office space, and 11,000 sq. ft. of retail space, including a food hall. Marriott International will continue to manage the hotel and residences under The Ritz-Carlton brand without disruption.

Thomas refi in California. Atlanta-based Thomas Financial Group, a wholly owned subsidiary of Community Bankshares Inc., has closed a $19.975 million USDA Business & Industry (B&I) loan for the refinance and renovation of two historic hospitality assets in Mendocino, California: The Mendocino Hotel & Garden Suites and Hill House Inn. The new owners, New York City-based Castle Peak Holdings, will undertake a comprehensive restoration of both hotels, which have fallen into disrepair. The loan will fund renovations at both properties, including the restoration of a three-meal restaurant and a lobby bar at the Mendocino Hotel, as well as the reopening of the North Coast’s largest indoor wedding venue. The loan has an 80% USDA guarantee, a 30-year term, and no balloon payments. The Mendocino Hotel & Garden Suites will be the only full-service hotel in the downtown district and the Hill House Inn is famous as the setting for the TV series “Murder She Wrote.”

Stonebridge adds 2. Denver-based Stonebridge has added two new hotels to its portfolio: the Hyatt Place Peña Station Denver Airport and the Hyatt House Denver Airport, according to a post on its LinkedIn page. Stonebridge now operates nine hotels and over 1,400 rooms at Denver International Airport.

IHCL deal for 15 hotels. Indian Hotels Co. Ltd. (IHCL) has signed an agreement with Kolkata, India-based Ambuja Neotia Group for 15 new hotels across IHCL’s brands over the next five years. The asset-light deal will grow their partnership to over 40 hotels. The 15 new sites identified for development are a combination of greenfield, brownfield, and conversion projects, spread across the states of West Bengal, Sikkim, and Himachal Pradesh. This includes a Taj resort in Sunderban, Darjeeling, Shimla and Rabong; SeleQtions hotels in Kolkata and Siliguri and a Tree of Life in Lataguri. A few projects will also feature Taj-branded villas in Darjeeling, Sikkim, Lataguri and Raichak.

Interest in travel to US improving. Intent to visit the U.S., which began to decline earlier this year, is starting to improve, according to Brand USA’s consumer sentiment study, conducted monthly in 10 key international markets. In 2023 and 2024, the survey found that among those likely to travel internationally in the next 12 months, 29% expressed a desire to visit the U.S. This year, that intent decreased from 28% in January to 23% in April. But more recently, “we’re seeing early signs of stabilization,” said Chelsea Benitez, Brand USA’s director of consumer research. The survey is fielded in Australia, Brazil, Canada, France, Germany, India, Japan, Mexico, South Korea and the U.K. Speaking during the marketing organization’s mid-July board meeting, Benitez said intent “ticked up slightly in May and again in June, reaching 25%, a modest but meaningful improvement.

Biz travel to hit $1.57T. Global spending on business travel is expected to reach a record $1.57 trillion in 2025 and $1.69 trillion in 2026, according to the Global Business Travel Association’s newly published Business Travel Index Outlook, but the organization has downgraded its growth expectations amid ongoing geopolitical uncertainty. In the latest edition of its annual report, GBTA projects “moderate” year-on-year growth in business travel spend of 6.6% in 2025, due to trade tensions, policy uncertainty and economic pressures, rising due to anticipated growth of 8.1% in 2026. A year ago, the organization had predicted 10.4% growth this year and 9.2% in 2026.

Hilton adds in KSA. Hilton is partnering with Al Musbah Group to sign the 221-key Diyar Ajwa, Tapestry Collection by Hilton, marking the debut of the lifestyle Tapestry Collection brand in Saudi Arabia. The hotel is scheduled to open later in 2025. Hilton partnered with Al Musbah Group in May to sign Spark by Hilton Makkah Aziziyah in KSA. Hilton currently operates 20 hotels across Saudi Arabia, with 77 more in the pipeline.

IHG adds another Garner in India. IHG Hotels & Resorts has signed a franchise agreement for the 40-key Garner Kutch in Gujarat, marking the brand’s third signing in India within months of its IMEA launch. The hotel is scheduled to open in the first quarter of 2026. Royal Buildspace LLP will operate Garner Kutch and will be sourced and managed by Rosastays (Rosaoul Hotelco Pvt. Ltd.). Rosastays will also manage and operate Garner Etawah and Garner Kathua, scheduled to open in 2026 and 2027, respectively. IHG currently operates 50 hotels across six brands in India, with a pipeline of 63 hotels set to open over the next three to five years.