Aiden by Best Western

IHG posted slightly better than expected results with the most publicized part of the release being their intention to give more $1 billion back to shareholders in 2024.

IHG chose Kuala Lumpur as the site of its 150th Hotel Indigo. The new hotel features unique amenities like a living vertical garden and a large-scale installation made from recycled plastic bottles. Pro-invest is preparing to sell an $800 million hotel portfolio, including eight Holiday Inn Express properties across Australia and New Zealand. Best Western is launching its first Aiden property in Southeast Asia in Phu Yen, Vietnam.

DJIA and Nasdaq dropped significantly, 10-year yield surged, and lodging stocks declined. U.S. hotel industry saw lower occupancy but improved year-over-year comparisons. Peachtree Group announced multiple hotel acquisitions and new development projects, while other hotels are under renovation and expansion.

The big news was a rumor with the Wall Street Journal reporting Choice Hotels is making a move to acquire Wyndham Hotels & Resorts . Truist upped their price target on Hyatt Hotels to $149 from $145. This follows H’s Investor Day and the tours of Apple Leisure Group resorts. Pebblebrook Hotel Trust gave their monthly update saying for 2Q23, overall demand and profitability trends continue to remain within expectations .

The Philippines Hotel Sales and Marketing Association said hotels in the country remain optimistic of the industry’s performance this year as the average occupancy has already surpassed pre-pandemic levels. Marriott International is planning 14 new luxury properties opening in the Asia Pacific region this year. IHG Hotels & Resorts announced the signing of voco Bangkok Surawong with Tawanna Property Company Limited, a real estate investor and developer in Thailand .

Gordon Haskett downgraded Airbnb to Underperform from Hold. They lowered their price target to $87 from $94. The firm also cut their rating on Booking.com to Hold from Buy. STR reported US lodging data for the week ended 1/21. RevPAR was up 26.2% year over year while up 5.6% versus 2019. The DJIA  rose 9.88 points, or little change. Nasdaq fell 0.2%; S&P 500 was barely changed. The 10-year Treasury yield fell to 3.461%.