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North America
U.S. Hotels See Best Rates and Occupancy Since 2019
The DJIA ended Friday with a gain of 395 points, while NASDAQ was up 255, the S&P 500 rose 59 points and the 10-year treasury yield ticked up a little to 4.15%. Lodging stocks were mostly… -
North America
Hilton Grand Vacations Completes Acquisition of Bluegreen Vacations
Hilton Grand Vacations Inc. completed the previously disclosed acquisition of Bluegreen Vacations. The transaction broadens HGV’s offerings, customer reach, and sales locations, creating a premier vacation ownership, and experiences company. -
Asia-Pacific
$750 Million Expansion of Las Vegas Sands’ Marina Bay Sands in Singapore
Las Vegas Sands’ Marina Bay Sands in Singapore’s expansion plans received another increase. Marina Bay Sands said they launched the second phase of its significant reinvestment program. -
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
Four Seasons Hotel and Condos Coming to Telluride
STR reported US lodging data for the week ended December 30. RevPAR was down -9.7% led by a -7.1% decline in occupancy. Speculators are questioning whether everyone is thinking the Fed is going to cut interest rates more than they really will. Real estate developers Fort Partners and Merrimac Ventures are building a Four Seasons hotel and condo resort in Telluride, Colorado . -
North America
Hyatt Unveils Luxury Development Pipeline
Citigroup downgraded Sonder Holdings from Buy to Neutral, with a new price target set at $4.Choice Hotels criticized Wyndham Hotels & Resorts for misrepresenting the lodging industry’s competitive landscape. This criticism came after Wyndham’s recommendation for shareholders to reject CHH’s exchange offer and their discontinuation of discussions regarding a potential transaction with CHH. Hyatt announced plans to open over 35 luxury hotels and resorts globally through 2025, including new Park Hyatt locations in the UK, Mexico, and Malaysia, and expanding the Thompson Hotel brand in Europe. -
Asia-Pacific
Mandarin Oriental Unveils Three Resorts in Japan
There are notable expansion and renovations worldwide, including the opening of the Hyatt Place Bodh Gaya in India, the launch of Mondrian Hong Kong, and the extensive refurbishment of Peppers Marysville in Australia’s Yarra Valley. Osaka, Japan, aims to attract 20 million visitors annually with the new MGM Osaka resort. Mandarin Oriental announces plans for three unique resorts in Setouchi, Japan. -
North America
Wyndham’s Board Tells Shareholders to Reject Choice
Wyndham’s Board rejects Choice Hotels’ unsolicited offer to acquire WH, backed by the Asian American Hotels Owners Association’s opposition. Hilton to open its first Tapestry Collection hotel in Los Cabos in 2024, alongside another project in La Paz. Preferred Hotel Group aims to expand its Beyond Green brand in Mexico, targeting 75 sustainable hotels globally. -
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.