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North America
Hotel Job Growth Slows Down
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. -
North America
Accor Plans to Open 100 Luxury and Lifestyle Hotels by 2025
Accor will open 100 luxury and lifestyle hotels by 2025, with plans to sign at least 50 more projects per year. -
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
Canada’s Surging Hotel Performance
Market Performance: DJIA fell 5 points, Nasdaq rose 128, and S&P 500 increased by 16 points; lodging stocks underperformed consumer and leisure stocks. Jefferies Nantucket Conference: Lodging companies report moderation in leisure demand, strength in group business, and mixed recovery of business transient; limited conviction impacting strategies and stock performance. Hotel Industry Updates: Canada’s hotel industry shows improved performance; various hotels undergo renovations, acquisitions, and openings across different locations. -
North America
Las Vegas’ and Charleston, S.C.’s Four Seasons
It was a rough one for Airbnb as investors seemed blindsided by their guidance. The 1Q results were in line but ABNB said they expect 2Q bookings to have slower growth . The best thing to be said about Vacasa’s earnings report came from JP Morgan . Their headline was the quarter was better than feared. STR reported US lodging data for the week ended 5/6. US hotel RevPAR was up 8.4% year over year. -
North America
New Builds, Conversions and Proposals to Start the Year
The DJIA fell 350 points, Nasdaq was down 154, the S&P 500 fell 45 points and the 10-year treasury yield was up .01 to 3.72%. Mizuho cut their price target on Airbnb to $110 from $125. They maintained their Neutral rating on the stock. STR reported US lodging data for the week ended 12/31. US hotel RevPAR was up 4.2% year over year while up 35.6% versus the same week in 2019. -
North America
Deutsche Bank Forecasts Modest Hotel Sector Growth in 2023
Lodging stocks were modestly lower. SOND fell -8%, the biggest mover in the group Friday. SLNA traded down to yet another new low. Both Hersha Hospitality Trust and Host Hotels announced special dividends. HT announced its board of trustees approved a special dividend of $0.50 per common share for the year 2022. Deutsche Ban k said 2022 was a year when the lodging recovery was swiftly realized. -
North America
Graduate Hotels Launches a Short-Term Rental Brand
The vast majority of lodging company earnings, both REIT and C-Corp , have been very positive, with the REITs being the biggest surprise. Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel , to its Latitudes: Lifestyle by Crescent collection. Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta , from affiliates of Marriott Vacations Worldwide .