Hilton and Hallmark Launch Christmas-Themed Partnership
Skift Take
- Hilton Worldwide Holdings Inc has entered into a partnership with Hallmark Channel to create Christmas-themed suites inspired by Hallmark’s “Countdown to Christmas” movies.
- The Waldorf Astoria Las Vegas has completed phase one of a multimillion-dollar property-wide transformation. This includes a redesign of all 389 guestrooms and suites and upgrades to meeting and event spaces.
- Margaritaville Resort Lake Tahoe, located in South Lake Tahoe, California, has announced its December 14th opening date. The transformation of the former Lake Tahoe Resort Hotel into a Margaritaville property cost over $70 million.
The DJIA was up 222 points, Nasdaq was up 210, the S&P 500 rose 44 points and the 10-year treasury yield was down .09 to 4.79%. Lodging stocks were mixed. HGV and CHH traded down to new lows. AHT was down -5%.
Xenia Hotels & Resorts reported an inline quarter. They slightly reduced their 4Q outlook. XHR repurchased 2.1 million common shares in the quarter for $25 million as well as an additional 0.9 million shares for $10 million since the quarter ended. XHR also repurchased $5 million of its 6.375% senior unsecured notes during 3Q.
DiamondRock Hospitality beat 3Q estimates, beating adjusted EBITDA by 6%. DRH did not repurchase any shares in the quarter.
STR released its U.S. Hotel Performance Review for September 2023. September 2023 Top-Line Metrics (percentage change from September 2022): Occupancy: 66.2% (-0.5%); ADR: $160.18 (+3.5%); and RevPAR: $106.07 (+2.9%). RevPAR growth acceler
