Choice Hotels Unveils Renovations for Radisson and Radisson Blu
Skift Take
Choice Hotels International is refreshing over 50 properties in its Radisson and Radisson Blu brands with contemporary designs and personalized service, featuring Scandinavian-inspired minimalist styles.
The DJIA rose 57 points while Nasdaq was up 5, the S&P 500 rose 14 points, and the 10-year treasury yield was down .06 to 4.22%. Lodging stocks were mixed. HLT traded up to a new high, and the big winner today was VCSA, which was up 23%.
In observance of the Juneteenth holiday, there will be no Daily Lodging Report on Wednesday, June 19th.
CBRE released its U.S. Hotels State of the Union June 2024 Edition. Regarding the economy, CBRE stated the upside to GDP fails to catalyze incremental demand. Between 3Q23 and 2Q24, CBRE positively revised its 2024 GDP forecast from 0.4% to 2.3%, +190bps. Over the same period, CBRE lowered its hotel demand growth forecast from +1.9% to +0.9%, -100bps. The burndown of COVID savings and increasing credit levels are headwinds. Credit card borrowings are now above pre-pandemic levels, and leverage is increasing. Stabilizing interest rates and maturities drive loan issuance. Total loans originated in April 2024 inc
