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North America
Selina Receives Nasdaq Delisting Warning
Selina Hospitality received a delisting notice from Nasdaq due to its low stock price, but plans to implement a reverse stock split to regain compliance. -
North America
Las Vegas Saw 20% Increase in Convention Attendees in 2023
Las Vegas saw a significant tourism and economic boost in 2023, highlighted by a surge in convention attendance, international visitors, and major events like the Las Vegas Grand Prix and the Super Bowl. -
North America
Hotel-Branded Residential Developments Grow in Popularity
Stock market performance: DJIA up 66 points, Nasdaq up 97, S&P 500 up 19 points, and 10-year treasury yield down to 4.60%. Lodging industry updates: US hotel RevPAR increased 5.2%, Group RevPAR was up 29.5%. Stifel lowered target price on Wyndham Hotels & Resorts, while Exane BNP Paribas downgraded IHG Hotels & Resorts. International travel data: International visitors spent $19.0 billion on US travel in August 2023, with a trade surplus of $1.8 billion. Travel and tourism accounted for 7.4% of US exports of goods and services in August 2023. -
North America
International Spending in U.S. Improves 24% Year Over Year
TD Cowen increased price targets for Hilton and Marriott, maintaining Outperform ratings. U.S. international travel spending surged in July 2023, with a trade surplus of $777 million. Various hotel developments and management changes were announced, including HEI Hotels & Resorts’ management of Aloft Tampa Downtown and plans for new properties in New Brunswick and Denver, as well as a significant renovation of The Olana mansion in Texas. -
North America
Hotels May End the Year Strong Thanks to Group Business
Truist reports strong trends in the U.S. hotel industry, with no signs of demand slowdown and expectations of growth in Q4 2023, driven by group business, business travel, and international visitors. CoStar data indicates a shift in U.S. hotel occupancy trends, with family travel slowing, group events strengthening, and a return of business travel, particularly during weekdays. Various hotel-related developments include property updates, new hotel constructions, and management changes across different locations in the United States. -
North America
Hawaii Gets a Rosewood Luxury Resort
Stock market decline: DJIA and Nasdaq both down, S&P 500 fell, causing investor anxiety due to rising interest rates. Hotel acquisitions and auctions: Apple Hospitality acquires Courtyard by Marriott in Cleveland, Sheraton Bucks County Langhorne hotel up for auction, Holiday Inn in Charleston to become Live Oak in Marriott’s Tribute Portfolio. Hotel developments: Hampton Inn & Suites in Manistee near completion, Resorts World Las Vegas opens private members’ club, Virgin Hotel in Dallas changes ownership, Kona Village in Hawaii opens as a Rosewood Resort. -
North America
Truist Talks U.S. Hotel Trends for Rest of Year
Stock market indices experienced gains, with DJIA, Nasdaq, and S&P 500 rising while the 10-year treasury yield decreased. Truist’s RevPAR Monitor highlighted positive and negative trends in the hotel industry, including the recovery of group travel and sluggish corporate individual business/transient segment. Various hotel-related announcements were made, including the launch of IHG’s Wi-Fi Auto Connect feature, expansion of Saks Fifth Avenue’s personal shopping service to luxury resorts, and the opening of new hotels by Hyatt, IHG, Palisociety, and others. -
North America
Hotel Recovery Is Uneven Worldwide
STR’s global report reveals positive RevPAR growth in most markets, with notable gains in occupancy, particularly surpassing 2019 levels in half of all markets. Israel, Singapore, Greece, Italy, and Ireland emerge as top performers in terms of RevPAR among countries with over 50,000 rooms, indicating strong tourism and hotel demand. Summer approaches with rising occupancy rates in 40 out of 48 countries , signaling a promising season for the hospitality industry worldwide. However, Vietnam and Saudi Arabia experience significant declines in RevPAR compared to 2019. -
North America
London to Overtake Las Vegas in Hotel Supply
Wyndham Hotels & Resorts received a much better response to their earnings report than Hilton did yesterday. Pebblebrook Hotel Trust kicked off the Lodging REIT earning season with Hersha Hospitality . Hersha Hospitality revenue was in line, EBITDA was lower than expected. -
North America
Oyo Says It Will Add 100 U.S. Hotels This YearÂ
B of A Securities initiated coverage on Hilton Grand Vacations with a Neutral rating and $50 price target. OYO plans to expand its market presence in the U.S. with an addition of over 100 hotels in CY2023. Morgan Stanley cut their price target on Park Hotels to $13 a share from $14 while maintaining their Equal Weight rating.