What Do Guests Want? Connected Rooms
Skift Take
- Stock market summary: DJIA up 429 points, Nasdaq up 156, S&P 500 up 53.
- Increased demand for connecting rooms and suites in hotels due to multigenerational family and group travel.
- Acquisitions and expansions: Fairmont Hot Springs Resort acquired for $40 million, Rimrock Resort Hotel acquired for $170 million with renovations planned, and Bluegreen Vacations expanding accommodations across various properties.
The DJIA rose 429 points, Nasdaq was up 156, the S&P 500 was up 53 points, the 10-year treasury yield was down .07 to 3.73% but lodging stocks were lower. Soho House (SHCO) was the biggest mover, down -9% but VCSA was up 7% and SLNA and Sotherly Hotels (SOHO) were both up 5%.
Host Hotels & Resorts announced their board of directors authorized a regular quarterly cash dividend of $0.15 per share, a 25% increase over the prior quarter.
According to the Wall Street Journal, the most in-demand hotel room for travelers right now is the room right next to theirs. Hotel and resort managers say requests for connecting rooms and suites have increased recently as multigenerational families and large groups of friends travel together. Some hotels have reported a more than 20% increase in the demand for these types of rooms, meaning more competition for connecting rooms, which families already struggle to book due to outdated rooms-assignment technology and limited supply. Some hotels are adding the ability to connect more rooms. Others are adding suites or upselling larger rooms with living space to groups.
The Ritz-Carlton New York, NoMad, is now offering
