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North America
Club Med Says It’s Hit a Milestone
Club Med released new data showing the company has reached a fresh milestone by achieving more than $2 billion in international business volume for the first time ever. -
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
Marriott Is Upgrading Caribbean Properties
Marriott International, Hyatt, CBRE, Xenia Hotels & Resorts, Airbnb, and others, experienced shifts in ratings, acquisitions, and expansions. Renovations & Openings: Numerous hotels underwent renovations, expansions, and rebranding across cities like Boca Raton, Key West, and Tempe. Ongoing projects in Virginia, Alabama, and Texas showcase substantial financial commitments, indicating growth and expansion in these regions. -
North America
Baird Expects Growth in Hotel Revenue Per Available Room
Baird provides insights into investor sentiment and expectations for 2024 RevPAR growth among hotel brands. Several hotel renovation and construction projects are announced, including a new Westin Resort in Cocoa Beach, Florida, and a Ritz Carlton Residences in Lake Woodlands, Texas. Multiple hotel acquisitions and developments are highlighted, such as the Kastrati Group’s acquisition of SLS Brickell in Miami and IHG Hotels & Resorts introducing the Kimpton brand in Portugal with Kimpton Algarve Sao Rafael Atlantico. -
North America
First Hospitality Buys 17 Hotels in Hostmark Deal
DJIA, Nasdaq, and S&P 500 all experienced declines while the 10-year treasury yield rose to 4.32%. Lodging stocks had mixed performance. Truist updated price targets for lodging/hotel group stocks, with several adjustments both up and down. Various hotels announced renovations, expansions, and new locations, including the Westin Denver Downtown, Hyatt’s growth plans, and the EV Evolution Venue Hotel in Tampa and Washington, DC. -
North America
San Francisco Hotels May Defy the Pessimists in 2024
Truist reported on its visit to San Francisco for the Visit Impact Summit. The good news is that the fall 2023 events are showing improvement. Marriott International announced the completion of a recent redesign and renovation to the 146-room Courtyard by Marriott Denver Central Park in Denver, Colorado . Airbnb stock received a big lift with the announcement of its inclusion in the S&P 500 . -
North America
Apple Hospitality and Xenia Hotels Beat Expectations
Apple Hospitality and Xenia Hotels were the next up to report earnings. APLE beat expectations and continues to be one of the few hotel REITs reporting EBITDA above 2019 levels. XHR also beat expectations on a higher top line with RevPAR growth of 23.9%. STR reported US lodging data for the week ended April 29. Year over year hotel RevPAR was up 5.6%. -
North America
Kimpton Adds Resorts, Goldman Sachs Buys Resorts
Kimpton’s first-ever resort in the Western Caribbean is officially opening this summer, with the debut of the new Kimpton Grand Roatan in the Bay Islands of Honduras . According to The Wall Street Journal, Goldman Sachs is investing between 150 million and 200 million euros in three seaside resorts in the northern region of Halkidiki . Key International completed the purchase of The Perry Hotel on the waterfront in Key West, FL as part of an ambitious expansion of its $2 billion portfolio. -
North America
Insider Buying at Lodging Companies
Despite the jitters and dire predictions we have been hearing for getting close to a year, lodging demand remains consistent with any concern of deterioration stemming from headline economic risk not yet manifesting in fundamentals. Baird reported on something we touched on recently, insider buying at lodging companies . A majority of the U.S. corporate travel buyers expect their company’s business travel to ramp up and return to pre-pandemic levels by the end of 2023 -
North America
A Sad Sack of Lodging SPACs Struggling as Public Companies
In an amazing recovery from over 700 points down, the DJIA ended the day down only 280 points while Nasdaq rallied to end up 6. Vacasa’s stock price plunged well into penny stock category, joining Sonder, before recovering somewhat, ending the day down -25%. Braemar Hotels & Resorts and Ashford Hospitality Trust both issued press releases, clarifying that their cash holdings are safe . STR reported US lodging data for the week ended 3/11. US hotel RevPAR was up 11.1% year over year.