Latest news: US hotels down; Mandarin to Amsterdam; new IHG CDO

US hotels down last week. The U.S. hotel industry from January 4-10 reported negative year-over-year comparisons, according to CoStar data. Occupancy was 48.1% (-2.4% YOY); ADR was $142.85 (-0.9% YOY); and RevPAR was $68.69 (-3.3% YOY). Among the Top 25 Markets, Tampa reported the steepest declines across each of the three key performance metrics: occupancy (-23.2% to 60.9%), ADR (-12.0% to $156.81) and RevPAR (-32.4% to $95.44). San Diego registered the second-largest drops in ADR (-9.5% to $161.76) and RevPAR (-22.5% to $82.72). St. Louis saw the highest increases across each of the performance metrics: occupancy (+18.1% to 46.9%), ADR (+14.2% to $117.19) and RevPAR (+34.9% to $54.92). The market’s performance was helped by the U.S. Figure Skating Championships. Overall, 16 of the Top 25 Markets saw a decrease in RevPAR.

Amsterdam hotel rebrands. The Conservatorium Hotel in Amsterdam is rebranding as the Mandarin Oriental Conservatorium, Amsterdam, under Mandarin Oriental's management. Located in they city's Museum Quarter, the hotel opened in 2011. This will be Mandarin’s first hotel in the Netherlands. A new restaurant will open in the first quarter of 2026.

IHG names CDO for Americas. IHG Hotels & Resorts has named Mark Sergot as its new chief development officer for the Americas. Sergot will lead IHG’s Americas Development organization, including its current leadership team, spearheading the region’s growth strategy across the United States, Canada, Mexico, Latin America and the Caribbean. He has more than 25 years of industry experience in sales leadership roles across global hospitality organizations. He joined IHG in 2020 as vice president of Global Sales Operations & Enablement. Since 2022, he has led IHG’s Global Sales Organization as senior vice president of Global Sales. Prior to IHG, Sergot spent more than 16 years with Fairmont Hotels & Resorts. He also currently represents IHG on the board of the U.S. Travel Association.

Chicago dual-brand refinance. A joint venture between a pair of Chicago-area companies, Friedman Properties and White Lodging, has secured a fixed-rate, five-year refinance loan for a dual-brand 270-key Residence Inn River North and the 253-key SpringHill Suites River North in Chicago. JLL secured the financing through PGIM. Both hotels completed renovations of all guestrooms in April 2025 with public space and meeting room renovations scheduled for completion in February 2026. 

Houston hotel rebrands. The Sam Houston Hotel has reopened in Houston as part of Hilton’s Tapestry Collection following a renovation led by Austin, Texas-based Scenic Capital Advisors. The historic property first opened in 1924.

Leonardo adds 4 in Germany. Leonardo Hotels Central Europe has acquired IntercityHotels in Nuremberg, Freiburg, Magdeburg and Erfurt, Germany, with plans to rebrand each property following the completion of renovations. With this acquisition, the financial terms of which were not disclosed, the Berlin-based hotel group expands its presence in Germany to 73 hotels, adding 638 rooms. Each of the newly-acquired properties are near railway stations and will remain open throughout renovations operating under a white-label brands until works are completed in the second quarter of the year.

Ever Lodge's opening in Australia. Ever Lodges, a new portfolio of Australian lodges, is opening its first property in the second half of 2026 with Ever Bloomfield, a 14-key retreat in the Daintree Rainforest of Tropical North Queensland. The company, which Drew Kluska and Justin Liberman cofounded, said additional properties will follow.

Shilla debuts in China. Korea-based Shilla Hotels & Resorts, an affiliate of Samsung Group, is opening its first hotel in China, the 264-key Shilla Monogram Xi’an, on February 2. The Shilla Monogram Xi’an marks the third Shilla Monogram property, following Da Nang, Vietnam and Gangneung, Korea.

Paris hits a December high. Pushed by Christmas and New Year’s Eve, Paris’s hotel industry posted its highest December performance on record, according to preliminary CoStar data. Occupancy was 76.7% (+6.6% YOY), ADR was EUR371.87 (+1.1% YOY) and RevPAR was EUR285.13 (+7.8% YOY). The market’s performance peaked on New Year’s Eve and ADR and RevPAR were the highest in the market since the Summer Olympic Games in 2024.

Dubai surges. Several events, including Formula 1, helped Qatar’s hotel industry post its highest December  occupancy level since 2014, according to preliminary CoStar data. Occupancy was 84.3% (+3.4% YOY), ADR was AED 1,042.11 (+11.1% YOY), and RevPAR was AED 878.19 (+15% YOY). The market’s occupancy was the highest for a December since 2006.

NYE pushes Sydney to a record high. Highlighted by New Year’s Eve, Sydney’s hotel industry posted record-high monthly ADR, according to preliminary December data from CoStar. Occupancy was 81.3% (+3.2% YOY), ADR was AUD349.06 (+11.1% YOY) and RevPAR was AUD283.68 (+14.7% YOY). In addition to the ADR record, RevPAR was the highest for any December in the market. On the final night of the year, occupancy reached 95.4%, while ADR and RevPAR climbed to AUD 1,009.10 and AUD 962.95, respectively.