U.S. Lodging REITs Hit 52-Week Lows as Markets Face Uncertainty

It was a rough one for the financial markets and Lodging REITs on Friday, with the DJIA falling 716 points, Nasdaq down 481 or -2.7%, the S&P 500 falling 112 points and the 10-year treasury yield down .11 to 4.26%. For the lodging stocks, the big mover was SHCO, down -7%, but the list of REITs hitting new 52-week lows is reaching epic proportions: RLJ, CLDT, INN, RHP, PEB, HST, SHO, DRH, XHR, and APLE. We'd love to tell you the group is bottoming, but there is no bottom, with no clarity in the political and economic landscape. Way too much uncertainty out there to call a bottom.

Home2 Suites by Hilton announced its new location on Waccamaw Medical Park Drive in Conway, South Carolina is now open and taking reservations. According to a press release, the hotel offers a heated saltwater pool, a fitness center and other amenities.

The Waldorf Astoria Las Vegas has unveiled its newly remodeled 23rd floor, including a Peacock Alley and a new bar, Hard Shake. Originally on the 23rd floor was the lobby and front desk, which was moved to the ground floor to make room for the new additions. Renovations have been underway at the 47-story, 389-room property operated by Hilton for around two years, including moving the lobby, redesigning all guestrooms and suites, as well as upgrading their over 15,000 square feet of meeting and event space.

The former development partners of the St. Regis tower are seeking to offload their last piece of the project, listing about three dozen of its residential units for bulk purchase. According to Crain's Chicago Business, Dalian Wanda Group has hired Newmark to seek a buyer for 37 condominium units it owns in the 101-story condo and hotel tower at 363 E Wacker Drive in Chicago, Illinois. Dalian Wanda Group was a co-developer with Magellan Development Group on the project but sold their 90% share to Magellan for $270 million. It is unclear what a buyer might pay for the 37 units or why Wanda is seeking to sell them in bulk rather than to individual owners. If the units find a buyer, it would be the second bulk sale of condos in the St. Regis. GD Holdings bought 84 residential units in the building from Magellan for about $117 million late last year.

Hotel Maya, located in Long Beach, California, announced its transition to an independent boutique lifestyle hotel, effective April 1, 2025. This transformation coincides with Hotel Maya's 50th Anniversary, celebrating its legacy since opening in 1975 while embarking on a multi-million dollar renovation to the waterfront property. Updates include a refreshed lobby, restaurant, upgraded amenities, additional suites, and a modern redesign of all guestrooms.

Quality Inn owners Kiran and Vanita Patel and Pete and Keyri Patel celebrated the hotel's grand opening at 7 Kimberly Avenue in West Haven, Connecticut, on Wednesday. The Patels invested $2 million into renovating the former Super 8 motel into a new Quality Inn hotel with modern amenities. Renovations of the two-story hotel include a new roof, siding, and windows, as well as new rooms.

StayAPT Suites announced the signing of a multi-location franchise agreement with Destiny Partners, LLC/Destiny Hospitality, LLC. This partnership will bring five new stayAPT Suites locations to key markets across Pennsylvania, including Lancaster, Reading, York, Bethlehem and Allentown. Construction will begin in the spring of 2025 on the first stayAPT Suites property in Lancaster. This new hotel will feature 94 rooms in a four-story prototype.

The oldest street in New York City is home to the newest micro-hotel. Now Now NoHo is a Sleeper Cabin Hotel located on the Bowery in the heart of Downtown Manhattan. The building has 177 rooms measuring 30 to 40 square feet each, shared but private bathrooms, a women's only floor, vending machines, and items like Gameboys and iPads available to rent. Now Now NoHo opens for business on April 1.

SHOP Development announced Larch House, a 39-key boutique hotel, is set to open late this summer in Whitefish, Montana. The rooms will be spread among an enclave of 10 buildings with a central courtyard, garden, and firepits; a rooftop heated pool and sundeck; ski storage; and four dining experiences.

Personnel News

The American Hotel & Lodging Association announced two critical executive leadership roles to bolster AHLA's executive team and help advance the industry's priorities. Ralph Posner was appointed as AHLA's Chief Communications Officer, and Khristyn Brimmeier joined as the Chief of Staff. Posner will oversee all aspects of AHLA's external communications efforts, including media relations, member communications, and campaign strategy. Posner was most recently a partner with Seven Letter, a strategic communications firm. In her new role, Brimmeier will serve as a strategic advisor to AHLA CEO Rosanna Maietta, advancing association priorities and key projects. She was most recently an Executive Vice President at Lot Sixteen, a public affairs and lobbying firm. Additionally, Neil Daftary joined AHLA this week as Vice President, Market Development, Green Key Global. Daftary will be responsible for expanding the certification programs of Green Key Global, a joint venture of AHLA and the Hotel Association of Canada that empowers hospitality businesses in North America to achieve excellence in sustainability. He most recently served as Director of Franchise & Sales Development at OYO Hotels.

Europe Highlights

Hilton is on track to have 1,000 hotels in Europe, the Middle East, and Africa this spring, with growth that includes two new brands and several openings. Hilton will introduce the Tempo by Hilton brand this year, with the Tempo by Hilton Belfast City Centre, Tempo by Hilton Lisbon Parque das Nacoes and Tempo by Hilton Reykjavik opening first. Additionally, the Spark by Hilton brand will enter Turkiye and Spain with the signings of Spark by Hilton Van City Centre and Spark by Hilton Madrid Alcala. Additionally, there are also three new Spark by Hilton properties coming to France in 2026.

Accor continues to grow its Handwritten Collection across Europe, announcing the opening of more than 50 new hotels in the region over the coming months. The collection will soon debut in Greece, Switzerland, Albania and Hungary, as well as increase its presence in France, the Netherlands, and more key European destinations. Among the new locations, the Handwritten Collection will open its first hotel in Greece, the 36-room Rocca A Mare in Crete in spring 2025. In Italy, Hotel Giacomo Morra Alba is set to open this spring following a complete renovation of the 92-room property. The Grand Canal Boutique Hotel Amsterdam will open in the summer of 2025. The 25-room property marks the second Handwritten Collection hotel in the Netherlands. In France, the Handwritten Collection will grow with the opening of the 39-room Hotel Kasano Calvi in Corsica in April 2025. Another French addition is Hotel de l'Abbaye du Tronchet, a newly opened property housed in a former abbey.

Nestled in the heart of Porto Cervo, Sardinia, Italy, the iconic Cervo Hotel reopened today. The property boasts multiple food and beverage venues, a private white sand beach, a freshwater pool, an outdoor gym, and tennis courts.

A listed former NatWest bank building on Piccadilly is being converted into central London's latest £1,000 a night super-luxury hotel. Asok Kumar Hiranandani's Royal Group of Companies is investing around £110 million in its first London site. The company bought the former NatWest Bank building for £65 million last month and plans to spend another £45 million to turn the 102-year-old property into a luxury boutique hotel with 50 suites. The purchase was handled by London investment advisers Michael Elliott.

Singapore real estate firm RealVantage has joined forces with a London firm to buy the Arthouse Hotel in the Scottish city of Glasgow for £12 million. RealVantage owns 85% of the 59-room hotel, with its British partner Oberland accounting for the rest. C1 Capital Partners is the appointed interim operator for the hotel, which will have 74 keys once renovations are completed late in 2025. RealVantage and Oberland aim to improve the hotel's financial performance over three to four years before returning it to the market.