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North America
IHG Gives a Strategy Update
IHG posted slightly better than expected results with the most publicized part of the release being their intention to give more $1 billion back to shareholders in 2024. -
North America
Barclays Forecasts Optimistic Outlook for 2024
Barclays updated their U.S. lodging REIT estimates ahead of the onslaught of expected conservative earnings that are coming. -
North America
Wyndham Hotels’ Instant Group Booking Windows
Group bookings across the industry’s largest portfolio of economy and midscale hotels will soon take minutes, not days, thanks to Groups360 and the rapid rollout at over 5,600 Wyndham hotels. -
Asia-Pacific
Seibu Prince Is Creating a New Membership Program and Unifying Its Brand
Seibu Prince Hotels will offer a consolidated membership program and unify its brand identity under a single brand. -
North America
Global Hotel Rate Bubble Watch
A new report for 2023 shows 85% of markets with RevPAR higher than 2019. In terms of top-line performance, that means most markets have recovered from the significant declines caused by the pandemic. -
North America
Accor to Expand Luxury and Lifestyle Brands
As 2024 begins to unfold, Accor is continuing to expand the brands within its Luxury & Lifestyle division to meet the world’s accelerating demand for high-end and culturally relevant travel experiences. -
North America
Hilton’s Names its New Extended Stay Brand
Hilton announced LivSmart Studios by Hilton is the official name of its new studio apartment-style, extended-stay hotel brand. LivSmart Studios already has more that 350 deals in various stages of negotiation. -
Asia-Pacific
Maldives Hotel Bookings Are Victims of Social Media Spat
China’s hotel RevPAR surged 56.1% year-over-year for the week ending December 30th, showing a significant recovery compared to the previous year’s decline. The Maldives experienced a backlash from Indian tourists, with a significant number of hotel booking and flight ticket cancellations, following offensive comments by Maldivian politicians against Indian Prime Minister Narendra Modi. Major hotel groups are announcing new projects and expansions, such as Accor’s partnership to launch Grande Mercure Jaipur Kukas in India, and Oberoi Group’s legal setback in Himachal Pradesh. -
North America
Wells Fargo Expects Hotels Exposed to Group and Leisure to Thrive in 2024
Wells Fargo predicts a stabilization in interest rates in 2024, benefiting hotel sector growth, with a focus on high-end leisure and Asia Pacific markets. Oppenheimer raised the target price for Host Hotels, and Driftwood Capital secured a significant refinancing loan for Hilton Cocoa Beach Oceanfront Hotel. There were key personnel changes in various hotel groups, such as Concord Hospitality and Great Wolf Resorts, indicating a focus on business development and wellness. -
North America
U.S. Average Daily Rates Continue Increase
The DJIA fell 285 points, Nasdaq was down 174, the S&P 500 fell 38 points, and the 10-year treasury yield was down nearly .10 to 3.91%. Let’s hope the first two trading days do not represent the rest of the year. STR’s global “bubble chart” update through December 16, 2023 showed 75% of markets with growth in RevPAR compared to 2019. Could there be a hotel building moratorium in one of the most popular areas of Southern Florida?