Edition Hotels

The Baird Hotel Stock Index was down -13.7% in March. But they were up modestly today. Goldman Sach re-rated a few hotel groups. And more news.

Ashford Hospitality Trust cut board and management compensation in an attempt to save at least $14 million in EBITDA toward its $50 million goal.

Hilton partnered with NILE Hospitality to open 75 Hampton by Hilton hotels in India, expanding its presence in the upper-midscale segment.

Marriott International is expanding its luxury portfolio with new brand extensions, experiential travel offerings, and over 260 properties in development, solidifying its leadership in high-end hospitality.

Minor Hotels Group aims to expand to over 1,000 hotels globally by 2028, focusing on Asia, especially China and India, through an asset-light strategy and franchising.

STR reported U.S. lodging data for the week ending August 31, showing a 3.6% rise in RevPAR, with ADR up 1.6% and occupancy up 1.9%. Group RevPAR increased 7.2% on a 7.1% occupancy boost.

IHG Hotels & Resorts and Six Senses announced the signing of Six Senses Telluride, a luxury property with extensive amenities set to open in 2028 in North America's Mountain West Region.

India has now slipped to the fifth position for tourist arrivals into Maldives in January, with just over 13,000 visitors. This is per the latest data from the Maldives tourism industry and is quite different than the commentary last week from the Maldives.

The Tokyo Edition, Ginza, designed by Ian Schrager and Kengo Kuma, is now open with 86 guestrooms, including 10 suites. It follows Edition's first Japan venture with the Tokyo Edition, Toranomon, and features large standard rooms and a blend of old and new architecture. IHG Hotels & Resorts and Accor announce multiple global openings for 2024, including luxury and premium hotels in various locations like France, Malaysia, Mexico, New Zealand, Thailand, and others.  Banyan Tree and China Vanke are dissolving their joint ventures, with Banyan Tree acquiring and selling stakes in different ventures for a combined 480 million yuan.

Wells Fargo downgraded Sunstone Hotels and revised DiamondRock Hospitality and Apple Hospitality's ratings. According to the National Travel and Tourism Office, international visitors to the U.S. in October 2023 spent $18.9 billion, marking a 23% increase from the previous year. In 2024, Hilton’s luxury portfolio, inclusive of Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts and LXR Hotels & Resorts will announce offerings that will provide guests with new brand signatures.