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North America
MCR Refinances Its Hotel Portfolio
MCR has refinanced a 16-hotel portfolio for $333 million, generating $51 million of net proceeds. In less than three years, MCR doubled the portfolio’s new operating income, increasing it from $15 million at acquisition to $36 million. -
Asia-Pacific
Vietnam Sets International Tourism Goal at 18 Million
A recent implementation of unilateral visa exemptions for 13 European countries was credited for the strong growth in arrivals from the UK, France, Germany, and Russia in January. -
North America
Vancouver Leads Canada’s Hotel Boom
Canada is seeing a surge of hotel construction in major cities, with Vancouver leading the way in new building applications. It is now seen as the most attractive bet by analysts because it leads the way in hotel profits and occupancy, which was almost 80% in October. -
North America
Hospitality Ventures Management’s Expanded Portfolio
Hospitality Ventures Management added 15 new hotels in 2023 to its portfolio of select-service, full-service and resort properties. Most of these additions are Marriott, Hilton, and Hyatt brands. -
North America
Hilton and Marriott’s Banner 2023
Hilton said they ended 2023 with the strongest development quarter in its history while Marriott International, Inc. announced the company’s record year of global signings with 52% more organic rooms signed in 2023 than the previous year. -
North America
Ryman Hospitality Anticipates $1 Billion CapEx Allocation
Ahead of Ryman Hospitality Properties’ Investor Day, Truist Securities upped their price target for the REIT. -
North America
Choice Hotels Disputes Wyndham’s Claims
Choice Hotels International issued an investor presentation that they said disputed the false and misleading antitrust claims made by Wyndham Hotels & Resorts in connection with CHH’s attempt to acquire WH. -
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. -
Asia-Pacific
The Peninsula’s Parent Company Seeks a New CEO
The Philippine Department of Tourism achieved over 5 million international visitors in 2023, nearing pre-pandemic levels, with a focus on their National Tourism Development Plan 2023-2028. China’s tourism rebound is driven by domestic demand, though sustainability into the next year is uncertain. The Hongkong and Shanghai Hotels announced executive changes effective 2024, with a formal search for a new CEO. -
North America
JP Morgan Re-Ranks Many Hotel Stocks
JP Morgan upgraded Choice Hotels to Neutral and shifted Host Hotels, Park Hotels, Ryman Hospitality, and Sunstone Hotels to Neutral, citing less downside in lodging REITs. CoStar forecasts U.S. hotel demand growth of 1.8% in 2024, with occupancy increasing by 1% and room rate growth aligning with inflation, leading to RevPAR growth of 4.8% this year and 4% in 2024. Barclays shifted to Equal Weight on Marriott Vacations, expressing uncertainty in company-specific execution and favoring Hilton Grand Vacations in the timeshare sector.