Quebec

Late last week, hotel REITs in the U.S. released an avalanche of earnings and investors were in a good mood again.

In 2024, Hilton achieved 7.3% net unit growth by adding nearly 1,000 hotels and strengthening its global pipeline, while expanding its brand portfolio with new lifestyle and luxury offerings worldwide.

Hilton is expanding on Maui with a new Hampton Inn & Suites opening in April and the conversion of Maui Seaside Hotel into a Tapestry Collection by 2026.

Hyatt’s stock dropped over 6% after the company lowered its growth outlook, adjusted EBITDA, and free cash flow guidance for 2024.

A proposed bill in New York City aims to ban nonunion hotels from outsourcing key functions, potentially disrupting hotels that subcontract consumer-facing work to firms that pay employees lower wages for tasks like housekeeping and security.

International tourism nearly reached pre-pandemic levels in early 2024, with notable growth in the Middle East, Europe, and Africa, and a full recovery projected for the year.

Park Hotels exceeded adjusted EBITDA and AFFO estimates and raised their financial guidance, citing optimism in their group and leisure outlook, likely due to recently renovated properties.

Selina Hospitality issued an update, emphasizing management's confidence through executive stock conversions and alignment with shareholders, clarifying that insider stock sales were automatic transactions for tax purposes, not discretionary market sales.

Hilton's expansion in Canada includes nearly 20 deals signed in 2023, with plans to introduce Spark by Hilton and Motto by Hilton in 2024 – aiming to surpass 200 hotels.

Apple Hospitality REIT declared a regular monthly cash dividend and a special distribution. Bluegreen Vacation Holdings' acquisition by Hilton Grand Vacations moved forward with the expiration of the waiting period under the Hart-Scott-Rodino Act. Several new hotel openings and acquisitions were announced, including AC Hotels by Marriott in Naples, Moxy by Marriott in Houston, IHG's first Garner hotel, and Choice Hotels International's 100th Suburban Studios hotel.