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North America
Pebblebrook, Hilton and Travel + Leisure All Beat First-Quarter Estimates
During the hotel group’s earnings season, Hilton’s report stood out as the most impressive – despite showing slowing RevPAR growth – due to strong performance in Net Unit Growth and EBITDA flow through. -
North America
CBRE’s 2024 U.S. Hotel Industry Outlook
CBRE anticipates continued growth in the U.S. hotel industry in 2024, with a 3% RevPAR increase driven by recovery in international travel and strong segments performance, amidst challenges of increasing operational costs and pressure on profit margins. -
North America
Lodging Stocks Rise on U.S. Fed Statement
The Fed Chief made it pretty clear there will be no interest rates lowered for some time and the markets seemed to like the certainty. -
North America
Travel + Leisure Finalizes Accor Vacation Club Acquisition
Travel + Leisure Co. has closed the acquisition of the vacation ownership business of Accor. The acquisition is expected to be immediately accretive to Travel + Leisure Co. earnings. -
North America
IHG Gives a Strategy Update
IHG posted slightly better than expected results with the most publicized part of the release being their intention to give more $1 billion back to shareholders in 2024. -
North America
Four Seasons Unveils Expansion of Residential Offerings
Four Seasons will develop the Four Seasons Residences at The Ocean Club in Nassau, Bahamas. This project, set to open in 2027, will include 67 Private Residences with luxurious amenities including an oceanfront pool, private cabanas, a beachfront restaurant, a spa, and more. -
North America
U.S. Average Daily Rates Continue Increase
The DJIA fell 285 points, Nasdaq was down 174, the S&P 500 fell 38 points, and the 10-year treasury yield was down nearly .10 to 3.91%. Let’s hope the first two trading days do not represent the rest of the year. STR’s global “bubble chart” update through December 16, 2023 showed 75% of markets with growth in RevPAR compared to 2019. Could there be a hotel building moratorium in one of the most popular areas of Southern Florida? -
North America
U.S. RevPAR Projected to Jump 4% in 2024
Deutsche Bank’s conference highlighted mixed optimism in the lodging and gaming sectors, with expectations of growth driven by international markets. Revised forecasts for the U.S. hotel industry in 2023 indicate slight adjustments in occupancy, ADR, and RevPAR predictions. The sector saw various activities, including MHG’s acquisition of Marriott West Palm Beach Airport, 3H Group’s plans for a new Hilton in Florida, and the opening of a new Holiday Inn Express in Arizona. International expansions and renovations were also notable, with new properties and rebranding efforts in several countries. Valencia Hotel Group rebrands to Valencia Hotel Collection, marking its 20th anniversary with leadership restructuring and expansion plans. Libertyland USA, a mixed-use development, is set to open in South Dakota by 2026, featuring an indoor waterpark and other amenities. Agora Realty & Management acquires a 73-acre site in Las Vegas for mixed-use development. -
North America
Hilton Grand Vacations to Buy Bluegreen Vacations
Hilton Grand Vacations is acquiring Bluegreen Vacations for approximately $1.5 billion, expanding its membership base and resort portfolio. HEI Hotels & Resorts takes over management of the Renaissance Times Square hotel in New York. Hyatt is collaborating with Parks Hospitality Holdings to develop four new properties in Mexico, including the Park Hyatt Cancun and Grand Hyatt Mexico Santa Fe. -
North America
Choice Tells Wyndham to Reconsider
Choice Hotels has urged Wyndham Hotels to consider a merger, but Wyndham has firmly declined any interest in the proposal. The chairman of Wyndham revealed they almost acquired Choice Hotels 20 years ago. The U.S. construction pipeline shows growth, with over 5,700 projects and 672,000 rooms, driven by a strong upper midscale chain scale presence. Renovation and conversion projects are on the rise, and new hotel openings are expected to increase in the coming years. Several hotel and resort projects are underway, including Westin Washington, DC Downtown, Opry Entertainment Group’s renovation in Austin, Four Seasons expanding its Private Retreats collection, and Tommy Bahama’s debut resort in California. Additionally, new developments in Florida, Rhode Island, and Indiana are on the horizon.