For 3-5 February 2017, the Houston metro market reported occupancy of 84.2% and average daily rate (ADR) of US$278.03. In the Houston CBD submarket, occupancy averaged 99.0% during the three-day period, and ADR hit US$546.24.
Combined company would result in the third-largest pure-play publicly traded lodging REIT by enterprise value
Amid these dog days of summer when the temperatures are brutal enough to melt asphalt and every last measure of patience, it bears noting that one of the most inventive marketing ideas of the 19th century has found occasion to make a comeback: the hotel roof garden.
Vail Resorts, Inc. (NYSE: MTN) today announced that on Feb. 17, 2017, it entered an agreement to acquire Stowe Mountain Resort from Mt. Mansfield Company, Inc. (MMC), a wholly owned subsidiary of American International Group, Inc. (AIG), for a purchase price of $50 million, subject to certain adjustments.