Hotel Deal Challenges, Flight Cancellations and Oyo's Couples Ban
The U.S. hotel transaction market is flourishing for properties valued under $50 million or over $250 million, but mid-size full-service hotels have essentially frozen due to owners clinging to 2019 prices and increased renovation costs. Meanwhile, a severe winter storm caused over 1,400 flight cancellations in the Mid-Atlantic and Midwest, most notably at Washington, D.C.’s Reagan National Airport, with airlines waiving rebooking fees. Lastly, Indian budget hotel operator Oyo has barred unmarried couples from its Meerut properties, sparking questions about the legality and potential spread of this policy to other cities.
- The U.S. hotel transaction market is currently hot for luxury properties
- Airlines canceled more than 1,400 flights in the U.S. on Monday
- Oyo will no longer permit unmarried couples to stay in Meerut, India
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