Design Hotels Announces 10% Global Portfolio Growth
Photo Credit: A sitting room at the Ham Yard Hotel in London. Its parent company Firmdale has a partnership with Design Hotels. Design Hotels
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Design Hotels reported 10% portfolio growth, highlighted by new agreements including new Firmdale properties, and expansion with Grupo Habita, Drift Hotels, and ASH.
Sunstone Hotel Investors reported a 3Q miss with guidance also reduced thanks to the labor strikes. Maui continues to be a drag on results as well while SHO said the reopening and rebranding of the Andaz Miami Beach will be pushed to February with an increase in the renovation budget to $95 million. SHO bought back 2.3 million shares in 3Q for $22.8 million.
Oppenheimer upped price targets on RLJ Lodging Trust and Wyndham while keeping their Outperform ratings on both. RLJ’s PT went to $12 from $11, while Oppenheimer boosted WH’s target to $115 from $90.
Mizuho upped their price target on Marriott Vacations to $117 from $110 while lowering their Hilton Grand Vacations target to $55 from $57. They maintained Outperform ratings on both.
Design Hotels announced 29 signed agreements and 10% growth of its global portfolio within the la
