Development & Capital

Why chains keep adding hotel brands: conversion flags bring signings and fees, but not reliably RevPAR. A 2026 checkpoint.

ECB and Fed hikes raise hotel debt costs as lenders and developers reassess projects, leverage and refinancing risk.

Hotel construction loans are available again in 2026, but banks are applying tighter terms as hotel debt maturities reshape financing.

KPMG’s H1 2026 data: hospitality & leisure M&A value rose 106.6% YoY as deal count fell 6.1%. What “higher-conviction” buying means for owners.

Ground-up builds are out; portfolio-scale conversions are in. Inside the corporate land grab as IHG, Hilton & Marriott race for existing hotel inventory.

TUI says Spain and Italy are full. Japan, Bali, Iceland and Peru are capping visitors too — and hotel capital is moving to where room remains.

Third-party hotel operators are consolidating fast. The fee and termination language owners actually sign hasn’t moved the same way — yet.

Financing gets blamed for slow hotel construction. Skilled-trades scarcity is now the binding constraint in several major markets — here’s where.

Franchise fee revenue is outgrowing RevPAR at Marriott, Hilton and IHG, with the widest gap in upper-upscale hotels.

Brand royalty fees stay fixed as PIP scope keeps growing. Here’s how property improvement plans shifted renovation risk from franchisor to owner.