Wyndham Expands Extended-Stay Portfolio
Photo Credit: A room insdie Reside Houston Downtown Room, a Wyndham Residence. Wyndham
Skift Take
Wyndham Hotels & Resorts, in partnership with Reside, has launched its new Wyndham Residence brand in the U.S., offering upscale, residence-style accommodations in major cities like Houston and Washington D.C., with plans for expansion across top U.S. markets.
The DJIA rose 273 points, Nasdaq was up 49, the S&P 500 was up 15 points and the 10-year Treasury yield was up another .05 to 4.28%. Lodging stocks were higher. CHH traded up to another new high, but SVC went down another -6% to another new low. AHT, on its first day of trading after their reverse split, was up 10%. VCSA rose 13% on the day.
According to the Q3 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics, the total U.S. pipeline stands at 6,211 projects/722,821 rooms, up 9% by projects and 7% by rooms Year-Over-Year. At the close of the third quarter, there are 1,185 projects/148,716 rooms under construction, marking an 11% increase in projects and a 6% increase in rooms YOY. Projects scheduled to start construction in the next 12 months total 2,209 projects/251,797 rooms. Projects and rooms in the early planning reached 2,817 projects/322,308 roo
