RLJ Lodging Trust

Bill Hornbuckle, CEO of MGM Resorts International, was named the national chair of the U.S. Travel Association’s board for a two-year term, succeeding Hilton’s Chris Nassetta.

The U.S. hotel deals market is expected to see steady annual growth of around 10% over the next few years, despite regional variations in activity.

Design Hotels reported 10% portfolio growth, highlighted by new agreements including new Firmdale properties, and expansion with Grupo Habita, Drift Hotels, and ASH.

Many U.S. hotel companies reported earnings, with RLJ Lodging Trust beating estimates but giving a softer forecast, Xenia Hotels missing across the board, and Host Hotels posting a modest beat despite hurricane impacts.

The Regent Santa Monica Beach opened on October 1 as Regent's first U.S. hotel since IHG's 2018 acquisition, following a $150 million renovation.

Wells Fargo adjusted ratings and price targets for several hotel stocks, upgrading some while cutting price targets for others.

Financial markets plunged with major indices and lodging stocks down sharply, except for SHCO which rose 6%.

Quarterly reports were mostly positive, but the week ended on a down note as hospitality stocks were down across the board.

IHG Hotels & Resorts plans to double the Hotel Indigo portfolio within three to five years, adding new properties in diverse locations such as the Cayman Islands, Oman, Mexico, and more, with several openings scheduled throughout 2024.

Kimpton Hotels & Restaurants is partnering with Coco Palms Resort to open a luxury resort in Kauai, Hawaii in 2026, featuring 350 accommodations, a coconut grove, spa, pools, and dining options.