Phoenix Hotels Project Second-Highest Revenue for a Super Bowl Weekend

The DJIA rose 169 points on Friday while Nasdaq fell 71, the S&P 500 was up 9 points and the 10-year treasury yield continued its march to 4%, up another .06 to 3.74%. Lodging stocks were lower. SOND was the biggest mover, down -8% while ABNB was down -5% on the day.

According to STR, Phoenix’s hotel RevPAR is forecasted to reach $419 for February 10-12, which would be the second-highest level for a Super Bowl weekend. The market, also hosting the Phoenix Open this week, is projected for Friday through Sunday night occupancy of 94% and ADR of $455. The ADR level would rank third among host markets behind Miami in 2020 and San Francisco in 2016. The overall Phoenix, Arizona market comprises 544 hotels accounting for 70,488 rooms.

White Lodging announced the renaming of its new Autograph Collection hotel in San Antonio, Texas, formerly known as The Otis Hotel. The 253-room Plaza San Antonio Hotel & Spa, Autograph Collection features three 19th-century bungalows, a garden oasis, a resort-style pool, modern meeting space, a destination spa, outdoor bar and onsite restaurant. The Plaza San Antonio will be the first Autograph Collection hotel in San Antonio and is set to open in the Summer of 2023. 

Concord Hospitality celebrated the topping off of the Westin Atlanta Gwinnett, located in the Gas South District of Duluth, Georgia. A significant milestone, the 11-story, 348-room hotel is on track for a grand opening in the Spring of 2024. Amenities at the Westin Atlanta Gwinnett include 12 event rooms totaling more than 27,000 square feet, a Starbucks, two restaurants, an indoor pool, fitness center, and outdoor fire pit.

Vision Hospitality Group, Inc., in partnership with Wolftever Development, announced the groundbreaking of the Home2 Suites by Hilton East Ridge, Tennessee. The new hotel will deliver a long-awaited, extended-stay lodging option to the growing Jordan Crossing Development. The property will feature 101 suites, a