Blackstone's $550 Million Renovation of Hotel del Coronado in California
Photo Credit: Exterior of the Hotel del Coronado in California. Blackstone
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In Coronado, California, the Hotel del Coronado announced the completion of the revitalization of its iconic Victorian building, the final milestone in Blackstone Real Estate's more than $550 million restoration plan to enhance the hotel.
The DJIA rose 35 points on Friday while Nasdaq was down 99, the S&P 500 fell 13 points and the 10-year treasury yield was down .02 to 4.38%. Lodging stocks were mixed.
According to data from CoStar, in May 2025, the U.S. hotel industry experienced minor changes in performance metrics year over year. The occupancy rate across the country declined slightly to 65.3%, a decrease of 0.7% from May 2024. Despite the slight drop in occupancy, the ADR for hotels increased to $162.72, marking a 0.8% rise. RevPAR also saw a minimal increase of 0.1%, reaching $106.30. Among the Top 25 Markets, New York City reported the highest occupancy level, although it decreased by 1.0% to 87.9%. On the other end, New Orleans and Houston recorded the lowest occupancy rates at 60.1% and 61.4%, respectively.
As the brand's first resort in Mexico, Waldorf Astoria Los Cabos Pedregal will continue to redefine luxury in 2025 and beyond with the culmination of
