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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
Vancouver Leads Canada’s Hotel Boom
Canada is seeing a surge of hotel construction in major cities, with Vancouver leading the way in new building applications. It is now seen as the most attractive bet by analysts because it leads the way in hotel profits and occupancy, which was almost 80% in October. -
North America
Dolly Parton Could Open a Nashville Hotel
Truist reports that lodging companies aren’t experiencing recession-driven demand declines, with strong group and individual business but weak domestic leisure. Dolly Parton may be venturing into Nashville’s hotel market with a $75 million building acquisition, and Toftrees Golf Resort in Pennsylvania announces a $50 million renovation. A new $175 million development in Mishawaka, Indiana, includes apartments, townhomes, and a 125-room hotel. -
North America
NewcrestImage Expands Portfolio with Three Marriott Hotel Acquisitions
Truist expects strong international and group earnings in 3Q lodging reports but weak domestic leisure. CoStar reports higher hotel performance in September 2023, with New York City leading in occupancy. Several hotel transactions and developments are mentioned, including Omni Pontoque Resort and Alt Hotel Calgary University District. -
North America
Hilton to Create Largest EV Charging Network in Hospitality Sector
Deutsche Bank initiated coverage on Hilton Grand Vacations with a Buy rating and a $59 price target, citing compelling stock levels. Hyatt CEO Mark Hoplamazian observed a return to offices in big cities, indicating potential growth in business transient travel. Hilton plans to install up to 20,000 Tesla Universal Wall Connectors at 2,000 hotels in North America, creating the largest EV charging network in the hospitality industry. -
North America
Canadian Hotels Enjoy Record Average Daily Rates
DJIA, Nasdaq down; S&P 500 fell; 10-year treasury yield up. Hotel Trends: Global RevPAR growth; Canada’s record ADR and RevPAR; mixed occupancy rates. Developments: Hotel expansions, renovations; Hyatt Vacation Club launch; new CEOs, brand in Croatia. -
North America
Positive Outlook for RLJ Lodging Trust
Stock Market Update: DJIA, Nasdaq, and S&P 500 all ended the day with gains, reflecting a broad market RLJ Lodging Trust : Baird reports positive investor meetings, highlighting underappreciated growth outlook and company drivers. Hotel Developments: AC Hotels by Marriott planned in East Memphis , acquisition of Westin Annapolis , and Equinox Hospitality ‘s acquisition and rebranding of Four Points by Sheraton San Rafael Marin County. -
North America
Ashford REIT to Return 19 Hotels To Lenders
Financial markets experienced declines with the DJIA falling 187 points and the S&P 500 down 13 points, while Nasdaq dropped 18 points. However, lodging stocks showed mixed to higher performance despite the overall market decline. Ashford Hospitality Trust (AHT) expects to return 19 hotels to lenders in various cities, including Las Vegas and Atlanta, due to missed repayment deadlines on a $982 million mortgage pool. AHT faced negative equity in the properties and opted not to pay for an extension, potentially impacting the hotel industry’s debt situation. STR’s global “bubble chart” update revealed that 85% of markets saw growth in Revenue Per Available Room (RevPAR) compared to 2019. Occupancy rates played a significant role in driving RevPAR, with coastal countries along the Mediterranean Sea showing strong growth. However, Saudi Arabia experienced the largest decline in RevPAR at 51%. -
North America
New York Delays Airbnb Crackdown
Stock market: DJIA, Nasdaq, and S&P 500 showed gains, while lodging stocks were mixed. American travelers: High excitement for travel, but concerns about finances and travel costs have increased. Hotel developments: Renovations and new constructions announced in various locations, including Alabama, Oregon, Pennsylvania, Florida, and Massachusetts. -
North America
Truist Talks U.S. Hotel Trends for Rest of Year
Stock market indices experienced gains, with DJIA, Nasdaq, and S&P 500 rising while the 10-year treasury yield decreased. Truist’s RevPAR Monitor highlighted positive and negative trends in the hotel industry, including the recovery of group travel and sluggish corporate individual business/transient segment. Various hotel-related announcements were made, including the launch of IHG’s Wi-Fi Auto Connect feature, expansion of Saks Fifth Avenue’s personal shopping service to luxury resorts, and the opening of new hotels by Hyatt, IHG, Palisociety, and others.