WorldHotels Distinctive

Macau hotels experience high demand during Golden Week, with standard rooms sold out for at least three nights at 22 casino-associated properties, some offering rooms at around US$400 per night. Samhi Hotels raises Rs 1,370 crore through an IPO, with plans to use the proceeds for debt repayment and corporate purposes, resulting in a 7% trading increase from the IPO price. Blue Chandra Pte Ltd. also sells 50% of its equity holdings in SAMHI. Marriott International opens a Four Points by Sheraton resort in the Philippines and rebrands Le Meridien Phuket Mai Khao Beach Resort in Thailand, while Hilton debuts the Hilton Maldives Amingiri Resort & Spa. Hyatt announces the construction of the Hyatt House South Melbourne in Australia for a 2025 opening.

Reuters published an article on how the hoped for, fast out of the gate, revenge travel by the Chinese following the demise of Zero-Covid has not occurred. Instead of a stampede, it has been more like a fast walk . South Korea and Australia were left off the next list of 40 countries to which China will resume outbound group tours as of tomorrow . Macau authorities are easing measures for entry to mainland China for visitors coming from Hong Kong , aimed at further improving circulation between the SARs and the mainland

In a day that was everything that was expected, the financial indexes and individual stocks were whipsawed. B.Riley lowered their price target on Ashford Hospitality Trust to $6.50 from $9. They maintained their Neutral rating. Jon Bortz , chairman of Pebblebrook Hotel Trust has been on a bit of an insider buying spree the past few weeks. He has purchased a total of 64,000 shares between 2/28 and 3/9 at prices ranging from $14.30 to $14.67.

Marriott International’s Ritz-Carlton is presenting a newly elevated experience at The Ritz-Carlton Club across its Asia Pacific hotels, joining a successful launch in Mainland China last summer. Hanwha Hotels & Resorts signed a memorandum of understanding with Lodgis Hospitality Holdings to forge a strategic partnership to mutually boost each of their hotel and resort portfolios. New Zealand’s Sotheby’s International Realty is listing an exclusive Queenstown  development site, expected to sell for more than $40 million.

Equity investors were once again willing to give the Federal Reserve Board the benefit of the doubt on the 0.75% rate hike today but then Fed Chief Powell held a press conference and it got ugly pretty quickly. STR reported US lodging data for the week ended 9/17. US hotel RevPAR was up 30.6% year over year. RevPAR was up 12.7% versus the same week in 2019. A group of hotel franchisees has filed a lawsuit against IHG Hotels and Resorts , claiming a cyber attack on its booking system earlier this month cost them millions of dollars in lost revenue, according to various news sources.