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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
Hawaii Gets a Rosewood Luxury Resort
Stock market decline: DJIA and Nasdaq both down, S&P 500 fell, causing investor anxiety due to rising interest rates. Hotel acquisitions and auctions: Apple Hospitality acquires Courtyard by Marriott in Cleveland, Sheraton Bucks County Langhorne hotel up for auction, Holiday Inn in Charleston to become Live Oak in Marriott’s Tribute Portfolio. Hotel developments: Hampton Inn & Suites in Manistee near completion, Resorts World Las Vegas opens private members’ club, Virgin Hotel in Dallas changes ownership, Kona Village in Hawaii opens as a Rosewood Resort. -
North America
Los Cabos, Mexico’s Growth Attracts More Hotel Brands
Lodging stocks were mostly lower. SOND was up 6% but that was pretty much it for any type of positive movement. MCG fell another -11%, SLNA was down -7%, SOHO and ABNB both fell -5%. JP Morgan lowered their rating on Membership Collective Group to Neutral from Overweight. JPM said their downgraded was based on MGC’s exposure to Europe. Los Cabos Tourism Board announced unprecedented growth in tourism arrivals is expected by the end of 2022 with more than 3.3 million visitors.