Marriott to Expand Apartments by Marriott Bonvoy
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Marriott International, Inc. announced plans to further expand its new Apartments by Marriott Bonvoy brand offering with signed agreements in the United States, Italy, and the Kingdom of Saudi Arabia.
The DJIA fell 99 points while Nasdaq was up 56, the S&P 500 was up 4 points and the 10 year treasury yield was up .04 to 4.18%. Lodging stocks were mixed. MAR traded up to a new high, VCSA was up 8% but AHT was down -5% on the day.
STR said US lodging RevPAR for the week ended January 20th was down -2.2%. Rates were up 1.6% but occupancy was down -3.8%. Group RevPAR was up 5.9%.
According to the Q4 2023 U.S. Construction Pipeline Trend Report by Lodging Econometrics, Dallas emerged as a powerhouse, leading the nation. Here are the tables that tell the full story:
U.S. Construction Total Pipeline by City in Q4 2023 CityTotal ProjectsTotal RoomsDallas19322,291Atlanta15118,730Nashville12316,148Phoenix12215,977Inland Empire11611,649 U.S. Pipeline Under Construction by City in Q4 2023 CityProjectsRoomsNew York City447,338Dallas283,607Atlanta254,279P