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North America
Lodging Stocks End the Week Higher
Stock market rallied as treasury bond yields fell, with DJIA, Nasdaq, and S&P 500 gaining points, while lodging stocks like SOND, AHT, and others saw significant increases. Several hotel-related developments were announced, including renovations, new hotels, and property sales in various locations across the United States. Rosewood Hotels & Resorts will introduce Rosewood Blue Palace in Greece in 2025, while the British Colonial Hotel in Nassau, Bahamas, will reopen on December 12 after a $100 million renovation. -
North America
Disney to Open Pixar-Themed Hotel
The DJIA rose 205 points while Nasdaq was up 122, the S&P 500 rose 31 points and the 10 year treasury yield was flat at 4.84%. Lodging stocks were higher. We did see another new low… -
North America
Truist Discusses Challenges in Choice Hotels and Wyndham Deal
JP Morgan expects strong international performance in 3Q23 RevPAR, net rooms, and pipeline growth, particularly driven by ADR gains. Truist discusses potential challenges and concerns in the Choice Hotels and Wyndham Hotels deal, including antitrust issues and franchisee resistance. US hotel industry reports a modest 0.8% YoY increase in RevPAR, with ADR compensating for soft occupancy; group RevPAR up 0.9% for the week ending 10/14. -
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
Rosewood Hotels & Resorts Expands Branded Residences in High-Demand Markets
U.S. hotel industry saw positive growth in RevPAR and rates for the week ending September 30, with Group RevPAR showing significant improvement. Rosewood Hotels & Resorts is expanding its branded residence portfolio especially in Europe. Various hotel projects and developments are underway in different locations, including downtown Springfield, Norfolk, San Antonio, Beaufort, and Las Vegas, with a range of amenities and timelines. -
North America
Canada Notches Record High Average Room Rates
Wedbush initiated coverage on lodging REITs, with Ryman Hospitality and Host Hotels receiving Outperform ratings and price targets of $94 and $19, respectively. Park Hotels and Pebblebrook Hotel Trust were initiated with Neutral ratings and price targets of $13 and $14, respectively. Keybanc downgraded Airbnb’s rating to Sector Weight from Overweight. A report by Morning Consult indicates that the “revenge travel” trend may be declining, with travel intentions increasing in some countries but declining in others, particularly in Europe. China is experiencing a significant surge in travel, driven by pent-up demand. -
North America
Puerto Vallarta Will Get an All-Inclusive by Marriott Bonvoy
Somm Hotel and Spa in Woodinville, Washington, part of Marriott’s Autograph Collection, is set to open in the summer of 2025 as part of a $700 million development. Home2 Suites by Hilton Houston/Katy in Texas completed renovations, featuring upgraded guestrooms and amenities. The Balbin Bros. Cigar Factory in Tampa, Florida, is undergoing transformation into a 70-room boutique hotel, aiming to open by March 2025 while preserving its historical value. -
North America
Hyatt Announces Plans for New Short-Term Vacation Rental Platform
Barclays expects a weak quarter for lodging REITs in 3Q23 and adjusted price targets for several hotel stocks. Various hotels across the US, including Marriott Vail and Signia by Hilton Atlanta, are undergoing construction or renovation. Hyatt Hotels plans to launch a vacation rental platform, Homes & Hideaways, while Sonesta opens a new hotel in Houston and Mandarina Oriental expands into Zurich. -
North America
Hilton Plans to Display Mandatory Fees Upfront
Stock markets experienced mixed performance, with DJIA and Nasdaq rising, while S&P 500 increased. Mortgage holders who didn’t lock in rates may regret their decision as the 10-year treasury yield rose. Several lodging stocks had varied results, with SHCO and SLNA showing gains, while AINC rebounded and INN, AHT, and VAC hit new lows. SOND declined. B of A Securities raised the price target for Soho House, Argus Research initiated coverage on Choice Hotels, and Baird discussed Hersha Hospitality Trust’s preliminary proxy statement. -
North America
Even Hotels Plans 40% Expansion in the U.S. with Revamped Prototype
Stifel reduced Hyatt Hotels’ target price to $115/share while maintaining a Hold rating. Pebblebrook Hotels warned of 3Q impacts due to storms in California and Florida, affecting same property RevPAR. U.S. Travel Association reports a federal government shutdown could cost the travel economy up to $140 million/day, causing negative consequences for air travel and travelers’ plans.