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North America
Hilton’s New Partnership With Small Luxury Hotels of the World
Hilton and Small Luxury Hotels of the World announced an exclusive strategic partnership that will welcome Hilton guests to hundreds of independently minded luxury hotels in the most sought-after destinations around the world. -
North America
IHG to Launch a 19th Brand
Choice Hotels and IHG saw new 52-week highs after reporting their earnings. Service Properties Trust also had a positive day with a 4% stock increase. IHG introduced a new conversion-focused brand in the mid-market. Marriott acquired and integrated the City Express brand. Hilton introduced a new hotel in Times Square. Several other hotel groups, including Charlestowne Hotels, 21c Museum Hotels, and Six Senses, announced new properties or renovations. Tru by Hilton opened in Mississauga, Ontario. TUI is actively expanding its hotel portfolio. Mandarin Oriental and Six Senses revealed new luxury resorts in Italy and Greece, respectively. Personnel news highlighted new appointments at LBA Hospitality and Barriere. -
North America
Relative Optimism for Hotel Earnings Season Among Analysts
Truist expects varied 2Q earnings for the hotel sector, with C-Corps’ results depending on geography and customer mix. U.S. hotel industry performance in June 2023 showed improvements from the previous month but lower year-over-year changes. RLJ Lodging Trust ‘s Nashville property joins Hilton’s Tapestry Collection after a comprehensive renovation, marking the company’s third conversion in 2023. -
North America
Service Properties Trust Completes Sale of TravelCenters to BP
Last week BP plc completed the acquisition of TravelCenter of America Inc . Service Properties Trust received $379.3 million in cash as part of the transaction. Sonder Holdings was cut to Perform from Outperform by Oppenheimer and InterContinental Hotels Group was upgraded to Neutral from Sell by Redburn. The Baird/STR Hotel Stock Index rose 1.4% in April from March. The Hotel Brand sub-index rose 2.5% from March while the Hotel REIT sub-index was down -2.6%. -
North America
Marriott’s Stellar Quarter and Optimistic Outlook
Marriott International followed up Hilton’s solid 4Q earnings report with one of their own, easily beating estimates on solid 4.6% RevPAR growth. 21c Museum Hotels will open its tenth hotel this spring, a 10-story lodging in St. Louis, Missouri. Marriott was up $6.90 a share, Hyatt was up $4.73, Hilton was up $2.38 and Airbnb is currently surging double digits in after hours trading on their earnings report -
North America
Highgate Will Purchase Viceroy Hotels
JP Morgan said they see more compelling value and better risk-rewards in gaming versus lodging , given better values and differing sets of investors’ expectations for fundamentals. Barclays gave their US Gaming, Lodging & Leisure outlook, saying their preference is the Cruise Lines out of the sub-sectors. Highgate has entered into a definitive agreement to purchase Viceroy Hotels & Resorts. -
North America
Commonwealth Hotels Acquires 2 Houston Properties
Overall, stocks gave back most of their pre-market gains. Lodging stocks wound up mixed on the day. Commonwealth Hotels acquired the 120-suite Residence Inn Houston-West University and the 100-room Courtyard by Marriott Houston-West University. Aimbridge Hospitality announced the expansion of its portfolio with the addition of three extended stay properties recently acquired by Three Wall Capital, LLC. -
North America
U.S. Hotel RevPar Last Week Down YoY, Improved Over 2019
For a change, the markets went up when Fed Chief Powell spoke. They interpreted his commentary and body language as blinking, that the bulk of the interest rate hikes are over. STR said US hotel RevPAR the week ended November 26 was down -0.1% year over year . Cambria Hotels announced the opening of its six-story, 121-room location in downtown Minneapolis to complete the newly constructed dual-hotel building. -
North America
Strong Recovery Indicators for Remainder of 2022
The DJIA dropped 1.54%, Nasdaq fell 2.84%, the S&P 500 declined 2.11% and the 10-year treasury yield rose slightly, to 3.76%. After an outstanding summer of travel, Amadeus’ Agency360 and Demand360 data sources are showing strong recovery indicators for the remainder of 2022 and evidence of growing traveler confidence as the sector looks towards 2023. Service Properties Trust announced it entered into a purchase and sale agreement to sell 16 Marriott branded hotels totaling 2,155 keys for $137.3 million. -
North America
Graduate Hotels Launches a Short-Term Rental Brand
The vast majority of lodging company earnings, both REIT and C-Corp , have been very positive, with the REITs being the biggest surprise. Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel , to its Latitudes: Lifestyle by Crescent collection. Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta , from affiliates of Marriott Vacations Worldwide .