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.
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.
Wells Fargo downgraded Sunstone Hotels and revised DiamondRock Hospitality and Apple Hospitality's ratings.
According to the National Travel and Tourism Office, international visitors to the U.S. in October 2023 spent $18.9 billion, marking a 23% increase from the previous year.
In 2024, Hilton’s luxury portfolio, inclusive of Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts and LXR Hotels & Resorts will announce offerings that will provide guests with new brand signatures.
Major hospitality companies reported mixed trends at the Morgan Stanley Global Consumer & Retail Conference, with lodging demand remaining positive but margins affected by high wages.
Several companies, including Crescent Hotels & Resorts and HHM Hotels, announced the addition of new properties to their portfolios.
Evermore Orlando Resort is set to open a unique beach paradise, and other hotels are undergoing significant renovations and refurbishments, indicating a continued focus on luxury and expansion in the hospitality industry.
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.
PEB reported better-than-expected 3Q results, but concerns arose from their commentary about a cooling US leisure demand and a weak 4Q guidance.
Accor anticipates full-year RevPAR growth of over 20%, with strong 3Q RevPAR growth in the Middle East, Africa, and Asia Pacific segments.
Various hotel developments were announced, including a Marriott conversion in New Orleans, renovations in Indian Wells, a hotel sale in Boston, and plans for a new luxury brand in San Miguel de Allende, among others.