IHG's New Prototypes for 3 Brands
Photo Credit: IHG's latest designs for Atwell Suites' rooms. IHG
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IHG Hotels & Resorts unveiled new prototype options for Staybridge Suites, Candlewood Suites, and Atwell Suites, set to roll out by Q2 2024 and debut in properties as early as 2025.
The DJIA fell 31 points, Nasdaq was down 69, the S&P 500 fell 15 points and the 10 year treasury yield was down .02 to 4.23%. Lodging stocks were modestly higher. New highs were set by TNL, H and HLT.
Mizuho initiated coverage on the lodging space today. They launched with Buy ratings on Hilton, Hyatt, Marriott Vacations, Hilton Grand Vacations and Vail Resorts with Marriott International and Travel + Leisure initiated at Neutral. Price targets given were $245 for HLT, $128 for VAC, $263 for MAR, $197 for H, $55 for TNL, $63 for HGV and $256 for MTN.
STR’s global “bubble chart” update as of March 9, 2024 showed 77% of markets increased RevPAR from the comparable period in 2023. Occupancy and ADR were also steadily higher than last year. Among countries with 50,000 rooms and adequate hotel reporting levels
