Latest news: Marriott adds in Austria; US performance up; Ascott growth

Marriott adding in Austria. Marriott International has signed an agreement with Vienna-based Verkehrsbuero Hospitality to open five properties (1,100 rooms) in Austria across its Tribute Portfolio, AC Hotels, and Four Points Flex by Sheraton brands. All five properties are expected to be converted from existing hotels operated by Verkehrsbuero Hospitality under its Austria Trend Hotels brand. Four Points Flex by Sheraton, one of Marriott’s midscale brands, will make its debut in Austria with four properties. The Austria Trend Hotel Ananas in Vienna will transition into a dual-branded hotel, featuring Four Points Flex by Sheraton and AC Hotel by Marriott Vienna. As part of the multi-deal agreement, the historic Parkhotel Schönbrunn in Wein, Austria will join Marriott’s Tribute Portfolio. Marriott’s footprint in Austria currently features 21 properties and nearly 4,000 operating rooms.

US hotels up last week. The U.S. hotel industry for April 27 through May 4 reported positive year-over-year comparisons, according to CoStar data. Occupancy was 65.8% (+1.8 YOY), ADR was $164.33 (+2.2% YOY) and RevPAR was $108.06 (+4.1% YOY). Growth was lifted early in the week on the positive side of the Passover calendar shift. Among the top 25 Markets, San Francisco saw the largest increases in each of the three key performance metrics: occupancy (+26.9% to 81.9%), ADR (+70.2% to $325.57) and RevPAR (+116% to $266.58), driven by the RSA Conference. The steepest RevPAR declines were reported in Las Vegas (-19.1% to $125.67) and New Orleans (-15% to $134.67).

Virginia property sells. Fredericksburg, Virginia-based James M. Bowen Co. has sold the Best Western Fredericksburg to a local undisclosed buyer for an undisclosed amount. The hotel plans cosmetic renovations and will retain its Best Western affiliation. Newport News, Virginia-based Mumford Company assisted with the sale.

Braemar earnings. Dallas-based REIT Braemar Hotels & Resorts reported comparable RevPAR for all hotels increased 4.2% year-over-year to $404 on ADR gains of 4.5% and occupancy declines of 0.3% as part of its first-quarter earnings. Braemar President and CEO Richard Stockton said the company’s urban hotel portfolio delivered 11.3% RevPAR growth YOY and said the company’s previously announced conversion of the Sofitel Chicago Magnificent Mile from brand-managed to a franchise asset is expected to provide an immediate uplift in the value of the property due to the Sofitel brand remaining and the management deal with Remington being terminable on sale. Analyst Michael Bellisario of R.W. Baird said hotel-level performance for the REIT was ahead of expectations. “Our primary focus remains on the company’s negative free cash flow profile and elevated balance sheet leverage," he said. "Progress is being made… but we believe a lot more progress is needed for both the equity value to improve and to position the company for growth.”

Ascott plans growth. Singapore-based The Ascott Ltd. plans to achieve a 20% annual growth rate over the next five years in the Middle East, Africa, and Turkey (MEAT). The company aims to steadily grow its regional presence toward 15,000 units in operation or under development by 2030, leveraging its flexible living portfolio and experience-led hospitality models. Strategic growth in Saudi Arabia and the United Arab Emirates anchors Ascott’s expansion plans. In Saudi Arabia, the company intends scaling operations across Riyadh, Jeddah, Makkah, Madinah, and key secondary cities, supported by upcoming openings such as Ascott Villas Riyadh, an upper-upscale living concept set to launch in Q3 2025 and the recent signing of a The Crest Collection hotel located on King Fahd Road in Riyadh. In the UAE, Ascott is deepening its presence in Dubai and entering Abu Dhabi, targeting both tourism and business demand. New projects include The Crest Collection Ras Al Khaimah on Marjan Island, bringing bespoke, story-driven hospitality to one of the UAE’s fastest-growing leisure destinations.

Minor shifting Oaks Hotels. Bangkok, Thailand-based Minor Hotels reveals an evolution of Oaks Hotels, Resorts & Suites, announcing a shift from serviced apartments to a full-service hotel, resort and suites brand. The brand will introduce new operating principles and a refreshed brand identity.