La Quinta

Dolly Parton has announced plans for a downtown Nashville hotel called Songteller Hotel, along with a museum showcasing her fashion and career artifacts.

ITC shareholders approved the company's plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.

The Wyndham Orlando Resort on International Drive is set to close on April 30, with potential plans for partial preservation and redevelopment by owner Unicorp National Developments Inc.

U.S. hotel performance in February 2024 saw modest revenue gains driven largely by Las Vegas and major events, with luxury and upscale chains leading growth amidst varied demand across other segments.

While U.S. unemployment remains below 4%, employment growth has been slowing and hotel job openings have also slowed. Wage growth outpaced inflation, but RevPAR contracted again in January.

Marriott International, Inc. announced plans to further expand its new Apartments by Marriott Bonvoy brand offering with signed agreements in the United States, Italy, and the Kingdom of Saudi Arabia.

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 .

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.

Morgan Stanley favors C-Corps over hotel REITs for their growth potential and downside protection, while Barclays upgraded Park Hotels and Resorts due to its high dividend yield. Choice Hotels missed estimates, and the potential acquisition by Wyndham remains uncertain, with suggestions for possible negotiation tactics.   Various hotels reported earnings and developments, with openings, auctions, and construction plans in different regions, including California, Texas, and North Carolina.

Global hotel businesses are rebounding to pre-pandemic levels except in Asia-Pacific. Vietnam lags in recovery with reduced Chinese tourism and increased flight costs, despite aggressive hotel development since 2016. Macau's August hotel occupancy averaged 88.7%, with significant visitor growth during the Golden Week, particularly from mainland China, showing signs of a robust recovery to near 2019 levels. Wyndham Hotels unveils its first Auckland hotel, Espire Hospitality launches the ZANA Forest Resort in India, and Ascott Limited partners with Vimut Hospital in Thailand to offer combined lodging and healthcare benefits.