Thursday, November 2, 2023
North America

Hyatt’s Heavy Canadian Expansion

  • Earnings reports from various hotel and hospitality companies have mixed results, with Marriott International and Hyatt facing disappointment, while Park Hotels, Chatham Lodging Trust, Host Hotels, RLJ Lodging Trust, and Summit Hotel Properties pleased investors.
  • Hyatt Hotels plans to double its brand footprint in Canada with 23 new hotels by 2026, including airport locations and Hyatt Centric and Hyatt House properties.
  • Various hotel acquisitions, openings, and renovations are announced, including the launch of Pendry Tampa and Pendry Residences Tampa, and the renovation of L’Ermitage Beverly Hills. Selina Hospitality faces financial challenges and seeks to restructure its debt.

The DJIA surged 565 points, Nasdaq jumped 233, the S&P 500 as up 80 points and the 10-year treasury yield was down .12 to 4.67%. Lodging stocks jumped, led by earnings, led by the market, possibly short covering. AHT and PK were the big winners, up 18% and 12% respectively while INN was up 11%. SHCO and VCSA were both up 8% while […]

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In Today's Issue - North America

Companies

Ashford Hospitality Trust, Chatham Lodging Trust, Choice Hotels International, Collective Retreats, Comfort, Concord Hospitality, Crowne Plaza, DiamondRock Hospitality Company, EOS Hospitality, Hyatt, Hyatt Centric, Hyatt Hotels Corporation, Hyatt House, Hyatt Place, IHG Hotels & Resorts, Marriott International, Marriott Vacations Worldwide, Park Hotels and Resorts Inc., Pendry Hotels and Resorts, Red Lion Inn & Suites, RLJ Lodging Trust, Selina, Soho House and Co Inc., Sonesta International Hotels Corporation, Summit Hotels, TownePlace Suites, Tribute Portfolio, Vacasa, Whitestone Capital, Woodspring Suites, Xenia Hotels & Resorts

Locations

Canada, Georgia, Illinois, Iowa, Kansas, Los Angeles, Mexico City, Montreal, New Hampshire, North Carolina, South Dakota, Tampa, Toronto, Vancouver, Virginia, Wisconsin