Blackstone is set to acquire the 277-room Four Seasons hotel in downtown San Francisco for approximately $130 million.

The average daily room rate at a U.S. luxury hotel is a record high at $394 this year. It is also $168 more than the average cost for a room in the next-priciest tier. The divide has been widening since 2008, when the difference was $60, but it has grown sharply in recent years to its largest ever.

The American Hotel and Lodging Association (AHLA) estimates that the government shutdown costs the economy $31 million in lost activity that would have been generated by hotel stays. As of last week, the AHLA estimated that the hotel industry had already lost $650 million in business.

The total cost of the Waldorf acquisition and makeover came to about $6 billion, including the purchase price and eight years of lost revenue while the hotel was closed but the owners were still paying property taxes and insurance. Much of it was covered by the Chinese government.

Among hotel properties with commercial mortgage-backed securities debt, the delinquency rate was 6.59% in July — up slightly from the 6.17% posted within the sector in July 2024 but still lower than the 6.9% delinquency rate recorded among retail properties in July 2025 and 11.04% within office real estate that same month.

Traffic to U.S. restaurants has fallen 1.7% so far this year, and is down 2.7% for fast-food eateries.

The U.S. hotel industry started the year with a growth projection of +1.8 percent but is now revised to +1 percent for the year due to underperformance and elevated macroeconomic concerns.

Hyatt, Marriott and other hotel chains are upgrading pay-one-price resorts to lure affluent travelers.

Airbnb is making a renewed push into what it calls Experiences and Services—its second attempt after a 2016 effort failed to gain traction.

New York City hotels averaged an occupancy rate of 82% a week for roughly the first half of the year. That is on par with last year—and nearly 20 percentage points higher than the national rate. Revenue per available room is at $238.93 was well above the national average figure of $99.94.