Global Hotel Pipeline Slows in Q3
Skift Take
- The DJIA surged 749 points on Friday while Nasdaq was up 245, the S&P 500 rose 87 points and the 10 year treasury yield was down .01 to 4.21%. Lodging stocks were modestly higher.
- According to September 2022 data from STR, Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the third quarter.
- IHG Hotels & Resorts reported a good 3Q, with RevPAR up 28% year over year and up 2.7% from 3Q19. The problem is they also announced Paul Edgecliffe-Johnson is leaving his CFO position.
The DJIA surged 749 points on Friday while Nasdaq was up 245, the S&P 500 rose 87 points and the 10 year treasury yield was down .01 to 4.21%. Lodging stocks were modestly higher. The biggest mover was to the downside with SOND down -6%.
According to September 2022 data from STR, Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the third quarter. In Europe, Germany (38,676) and the U.K. (29,471) lead Europe in total rooms in construction. Among the countries in Asia-Pacific, China has the most rooms in construction (311,859), followed distantly by Vietnam (28,692). Most of the Middle East & Afirca's pipeline activity is focused in the Middle East. Saudi Arabia (39,070) and UAE (32,272) lead in construction activity. The U.S. holds the majority of rooms in construction in the region, followed by Mexico (14,077) and Canada (7,126).&
