The DJIA rose 184 points, Nasdaq was up another 215, the S&P 500 rose 48 points, and the 10-year treasury yield was down .13 to 4.20%. Lodging stocks were modestly higher, but the big mover was SOHO dropping -11%. VCSA traded down to another new all-time low.
Either the reporters at Dow Jones are bored, or they didn’t get any upgrades the last time they stayed in hotels. Whichever it is, they are quite fascinated with pointing out every negative thing they can in the space, the latest being that some hotels are now charging if customers want late or early checkouts/check-ins. Las Vegas casino hotels have been doing this for years, but now more hotels are doing it, with the problem being that they are also charging elite members in some cases. We can understand charging non-loyalty or even business customers. Still, it seems to go against being elite when some of the members of the top tiers of the loyalty programs that have been accustomed to late checkouts are now seeing charges for it.
The 2023 Big Book of Travel Data reported that Marriott is the top-ranked among 10 leading hotel groups globally, with $61.4 billion in system-wide room revenue. Hilton was second with $41.5 billion. Regarding individual brands, the Big Book said Hampton by Hilton led in 2022 with nearly $10.22 billion in room revenue, followed by Hilton Hotels & Resorts with $9.24 billion and then Marriott Hotels with $8.78 billion. This is the second annual publication of this new report from Allianz and IdeaWorksCompany..
STR reported U.S. lodging data for the week ended 8/19. U.S. hotel RevPAR was up 1.8% year over year. Group RevPAR was up 3.1%.
Waramaug Hospitality acquired the Atlanta Marriott Peachtree Cornershotel within Technology Park in Atlanta, Georgia. The 222-room property, which Aimbridge Hospitality will now manage, offers over 5,000 square feet of meeting space spread throughout nine rooms, a fitness center, an indoor pool, and an outdoor fire pit seating area.
Meoli Companies held a grand opening ceremony for a new hotel on Route 1 in Frederica, Delaware. The SpringHill Suites by Marriott is part of Asbury Square, about 22 acres. Meoli Companies is developing six other commercial pad sites near the D.E. Turf sports complex. The 86-room hotel features a conference/banquet room, an indoor pool, an exercise room, and an upscale lobby.
PEG Companies will begin welcoming guests to its SpringHill Suites by Marriott Scottsdale hotel starting August 30. Located in the thriving ASU Skysong neighborhood in Scottsdale, Arizona, the 117-room hotel features an outdoor pool, hot tub, and a fitness center. PEG’s hotel management company, PEG Hospitality Group, runs the hotel.
Concord Hospitality Enterprises is set to manage the Hyatt House Lansing/University Area, set to open in Lansing, Michigan. Opening this year, this Hyatt House features 139 rooms and suites, onsite laundry, an indoor pool, and a fitness center.
Choice Hotels and Matrix Hotels announced the October opening of the newly-built Cambria Hotel in Lake Placid, New York. The modern hotel features 185 rooms, 4,000 square feet of meeting space, an onsite bar and bistro, a marketplace, coin laundry, an indoor pool, and indoor and outdoor wedding venues. Cambria Hotel Lake Placid is situated on the shores of scenic Lake Placid.
The Oyo Hotel in downtown St. Louis, Missouri, is slated for a $46 million renovation and rebranding. Midas Hospitality filed plans to turn the financially distressed hotel into a 220-room Sheraton. Condominiums, which take up three floors, would remain. The hotelier also plans to restore the top floor as an events space and turn another floor into Apartments by Marriott Bonvoy. The hotel would be the first in the country to feature the Bonvoy Apartments. The 13-story Oyo Hotel is owned by Acres Capital, who took over the property after the prior owner, Consolidated Land Holdings LLC, filed for bankruptcy in 2019.
Sacramento County received an early-stage proposal for a four-story, 122-room WoodSpring Suites on empty land on the corner of Date Avenue and Chippendale Drive. The application by HMC Development LLC states that the hotel would offer limited service and have no restaurant, bar, or meeting facilities. Plans in the pre-application show a fitness center and guest laundry room as the only obvious amenities for guests.
Urban Villages celebrated the topping out of Populus, a new 265-room, 13-story hotel located in downtown Denver, Colorado, that is aiming to be the first carbon-positive hotel in the United States. The hotel, expected to open in spring 2024, will have a rooftop restaurant and bar as well as retail and event space.
An ambitious, nearly $30 million renovation and rebranding of the historic Floridan Palace Hotel in downtown Tampa is slated to wrap up in October. 1754 Properties purchased the aged Floridan in late 2021 and launched the renovation project in late 2022. The renovation includes all public areas of the hotel, with work on the ballrooms expected to be finished by the end of August. The 212 guest rooms are being renovated, with 10 of the 15 floors of rooms currently closed for work. The Floridan Palace opened The Dan restaurant in May and, in mid-August, added the Cass Street Coffee Company café and coffeehouse. After the project is finished in October, the Floridan will become part of the Hilton brand’s Tapestry Collection.
A new hotel with the concept of being a home away from home is now open in Jackson, Tennessee. The new Stay APT Suites is located adjacent to the Rockabillys baseball stadium.
WaterWalk announced the appointment of Jim Anhut as interim president and chief development officer to support the strategic expansion of its next-generation product. Anhut brings more than 36 years of extensive industry experience, including having worked alongside WaterWalk’s late founder, Jack DeBoer, in his early career. WaterWalk’s immediate past president, Jim Korroch, will step away from the daily responsibilities and retain an active seat on the company’s Board of Directors. In his new role, Anhut will target franchise partnerships to develop new properties in key markets across the U.S. Additionally, he will leverage hotel conversion opportunities to transform existing properties into upscale destinations under WaterWalk’s innovative operating model.
Virgin Hotels announced the opening of Virgin Hotels Glasgow, the Group’s second European destination. The 240-chamber hotel features multiple food and beverage venues and an array of state-of-the-art meeting and event spaces.
Sunwing Vacations customers can soon enjoy two new luxury Princess Hotels & Resorts beachfront resorts in Jamaica. Opening in April 2024, the family-friendly Princess Grand Jamaica and the enchanting adults-only Princess Senses the Mangrove will be available exclusively to those booking with Sunwing Vacations. The all-inclusive Princess Grand Jamaica boasts 590 suites, five pools, a selection of themed restaurants, a Thematic Game Zoneand supervised Kids Club Center. The impressive adults-only Princess Senses the Mangrove is a 415 all-suite resort with 14 restaurants, a spa, and a rooftop infinity pool.
RIU Hotels & Resorts is reopening the Riu Gran Canaria following a full refurbishment. The all-inclusive hotel boasts a new design and has been equipped with new facilities, restaurants, bars, and services, including the famous RIU Party. The hotel Riu Gran Canaria has 639 renovated rooms, a remodeled lobby with a larger reception area, and a new swimming pool, bringing the total number of pools to seven.
The Leading Hotels of the World welcomed four new member hotels to its portfolio. This season’s collection includes a host of recent hotel openings and significant renovations. LHW’s Autumn Collection includes The Adria, located in London, UK, and reopened in January 2022. The home away from home offers 24 elegant rooms and suites, a fitness suite, a tranquil spa, and several lounges. In Vancouver, Canada, the newly opened Azur Legacy Collection Hotel features elevated dining and the city’s first rooftop garden restaurant. Spanning over 13 floors of a newly constructed building, the hotel has 104 rooms, 13 suites, and multiple restaurants. The Chedi Katara Hotel and Resort in Katara, Qatar, opened in November 2022. The 91-room palatial property is a new landmark for Doha with its private beach, destination dining options, and a wellness spa and pool. Newly opened in April 2023, the Aleenta Retreat, in Chiang Mai, Thailand, is a 44-bedroom retreat featuring four antique teakwood Thai dwellings, which the hotel has revamped into a spa, a restaurant, a boutique, and a family-size villa. The Ayurah Spa, set in a teakwood-clad building, is near the central pool.