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North America
Camino Real Plans Major Investments in 6 Mexico Properties
The Camino Real hotel chain plans to spend three billion pesos on remodeling and technology upgrades at its properties across several cities in Mexico. -
North America
Starwood Capital to Transfer 10 Hotels to a SPAC
Starwood Capital Group signed a deal with SPAC Jaws Mustang Acquisition to merge. If completed, the SPAC will become the direct or indirect owner of Starwood entities’ interests in an initial portfolio of 10 properties, including the 1 Hotel Brooklyn Bridge. -
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
Barclays Forecasts Optimistic Outlook for 2024
Barclays updated their U.S. lodging REIT estimates ahead of the onslaught of expected conservative earnings that are coming. -
North America
Global Hotel Rate Bubble Watch
A new report for 2023 shows 85% of markets with RevPAR higher than 2019. In terms of top-line performance, that means most markets have recovered from the significant declines caused by the pandemic. -
North America
Marriott and Hilton Embrace Dividends and Stock Buybacks
DJIA rose 391 points, Nasdaq up 277, and S&P 500 rose 68, with notable movements in lodging stocks, Hilton, and Marriott. PwC predicts economic challenges for hotels through 2024. CBRE reports mixed trends in the U.S. hotel industry, with RevPAR contraction, short-term rentals gaining market share, and outbound U.S. travelers surpassing inbound. Several hotel developments and expansions are underway, including in Banff, Nashville, and Park City. Hilton expands to Monaco, Marriott brings The Luxury Collection to Greece, and Minor Hotels debuts in Paris. Various hotel acquisitions, developments, and renovations are announced across the United States, reflecting a dynamic and evolving hospitality landscape. -
North America
Wells Fargo Ups Price Targets on Lodging Stocks
Stock market performance: DJIA was up 86 points, Nasdaq up 158 points, and S&P 500 rose 33 points, while lodging stocks mostly declined. Wells Fargo raised target prices on lodging stocks, including RHP, APLE, HST , and DHR , maintaining their ratings. Various hotels underwent renovations, including Courtyard Louisville Airport and Chancellor’s House Hotel , while new hotels were announced, such as the Hampton Inn & Suites in Pittsburgh and Riversuites in Philadelphia. -
North America
A Sad Sack of Lodging SPACs Struggling as Public Companies
In an amazing recovery from over 700 points down, the DJIA ended the day down only 280 points while Nasdaq rallied to end up 6. Vacasa’s stock price plunged well into penny stock category, joining Sonder, before recovering somewhat, ending the day down -25%. Braemar Hotels & Resorts and Ashford Hospitality Trust both issued press releases, clarifying that their cash holdings are safe . STR reported US lodging data for the week ended 3/11. US hotel RevPAR was up 11.1% year over year. -
North America
Raines Buys HP Hotels, Hilton to Expand in France
Raines announced they acquired HP Hotels , a full-service, third party hotel management company. Raines said this will result in operational expansion throughout the Southeast and Southwestern U.S. The Courtyard by Marriott Long Beach Downtown announced the addition of two Topgolf Swing Suites at their 216-room hotel. Borgata Hotel Casino & Spa , in Atlantic City, New Jersey , is embarking on a $55 million redesign and rebranding of The Water Club, in time for the resort’s twentieth anniversary. -
North America
Belmond and the Cipriani Family Make Peace
RLJ Lodging Trust reported in-line results with some limited guidance they gave in January at ALIS. Summit Hotel Properties reported 4Q results ahead of estimates with strong earnings contributions from the recently acquired properties, including NewcrestImage. Argus Research upped their rating on Airbnb to Buy from Hold with a $144 price target.