U.S. Hotel Companies Largely Rebound to Profitability

Daily Lodging Report

Skift’s Daily Lodging Report is a subscription-required, email-only newsletter read by anyone and everyone in the hotel investor, owner, and operator space, including CEOs of some of the industry’s top brands. It covers North America and Asia Pacific with two separate regional editions.

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Here’s a sampling of what the Daily Lodging Report provided to its readers this past week. If you’re not a subscriber, you should be. Don’t wait. Sign up now here.

Extended Stay America appointed Greg Juceam as President and Chief Executive Officer, effective immediately. Juceam most recently served as ESA Management’s Executive Vice President and Chief Operating Officer. He succeeds previous President and CEO Bruce Haase, who has stepped down to pursue other opportunities.

Skift Note: Turnover for the top job at Extended Stay America arrives on the heels of Blackstone and Starwood Capital jointly acquiring the company for $6 billion. Juceam’s task will be transforming ESA into its new owners’ vision.

Crown Resorts Ltd. announced they agreed to the revised takeover offer from Blackstone Inc that values the company at A$8.9 billion. Shareholders will receive A$13.10 in cash per share. A shareholder vote will occur in the second quarter of 2022. The initial offer from Blackstone was A$11.85 nearly a year ago. Blackstone raised its offer multiple times but until this one the Crown board had continued to reject it.

Skift Note: Speaking of Blackstone, the investment group’s apparent deal for troubled Crown Results nets it yet another casino network outside its already active playground in Las Vegas.

J.W. Marriott, Jr. confirmed to the Board of Directors of Marriott International, Inc. that he plans to retire as Executive Chairman in May and will not stand for re-election to the Board at the upcoming Annual Meeting of Stockholders. The Board formally designated him Chairman Emeritus, effective immediately following the upcoming 2022 Annual Meeting. In