Crowds of American tourists this summer filled the streets of European and Asian cities, with many branching out after three pandemic-era years of vacationing closer to home. This shift of American travel patterns had a big impact on hospitality markets and the multibillion-dollar companies that own and operate hotels, with some profiting from the trend while others felt the pain. 
The giants like Marriott and Hilton that have hotels in travel destinations across the globe reported strong earnings last quarter, as they benefited from this boost in demand. But the real estate investment trusts that largely limit their portfolios to the U.S. revealed a different picture: declining revenues at many resort hotels. The reports came… Read the full story here. | 
