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North America
Hotel Asset Sales Pick Up
Jefferies said the looming recession and stabilizing credit market could be positive for the prospects of timeshare, but with a harder landing not off the table, they see stocks trading at rich valuations. Truist said with earnings season about to kick into gear for the lodging sector, they continue to see macro over micro. Park Hotels and Resorts Inc. closed on the sale of the 508-room Hilton Miami Airport , located in Miami, Florida , for $118.25 million. -
Asia-Pacific
Macau Marks Highest Visitation Numbers in 3 Years
Macau has received 245,000 visitors in the first four days of the Chinese New Year/Spring Festival holiday week. Wyndham Hotels & Resorts announced the signing of The Earth Amritsar, Trademark Collection by Wyndham, its first hotel for the brand in India . Sarovar Hotels and Resorts announced the opening of Shyama Sarovar Portico in the city of Orai, Uttar Pradesh in India. -
North America
Upbeat Mood and News Frenzy at ALIS
Truist said they are finding the sentiment at the ALIS Lodging Conference as mostly positive , with lots of “hope” that the most well-anticipated recession in the history of recessions will be a mild one. STR and Tourism Economics made a modest upgrade to the 2023 U.S. hotel forecast released at ALIS. Four Seasons said they started 2023 with new leadership, brand extensions and strategic portfolio growth. -
Asia-Pacific
Thailand May Add Tourism Fee and Expand Domestic Hotel Subsidy
Hotels in Thailand still want the government to accelerate the launch of the new phase of the domestic stimulus scheme even with an influx of Chinese tourists expected to show up. Hyatt Hotels announced the opening of Andaz Pattaya Jomtien Beach , the debut of the Andaz brand in Thailand . IHG Hotels & Resorts has opened its first Crowne Plaza hotel in Bangladesh in partnership with Doreen Hotels & Resorts -
Asia-Pacific
Accor Reveals Asia Property Openings for 2023
Accor announced its list of highly anticipated properties that will open in 2023 . Marriott International announced it expects to reach 50 hotels in Thailand by mid-2023, including adding an anticipated eight hotels next year. Anantara Veli Maldives Resort reopened on December 1, following nine months of extensive renovations. -
Asia-Pacific
Covid Cases in China Spur Multiple Lockdowns
The rumors about Covid in China have reached epic proportions including 20,000 people testing positive at the Foxconn plant, thousands of holidaymakers locked in Shanghai Disney and more. Marriott International announced the signing of an agreement with Australian property developers Pelligra Group and Giannarelli Group . IHG Hotels & Resorts has officially opened its first Crowne Plaza Resort in Micronesia. -
Asia-Pacific
Lockdowns and Testing in Shanghai, Wuhan and Macau
Shanghai ordered mass testing of all 1.3 million residents amidst another lockdown, Wuhan locked down 900,000 people for at least five days, while in Macau the MGM Cotai casino resort was locked down after a dealer tested positive. The hospitality sector in India is looking at rapidly adding managed hotels to its portfolio. Hong Kong -based Langham Hospitality Group has launched an upper midscale brand called Ying’nFlo . -
Asia-Pacific
China Won’t Ease Zero-Covid Policy Anytime Soon
The commentary from President Xi at the National Congress in Beijing certainly did not sound like the Zero-Covid policy that has hampered tourism and business travel in and outside of China is going to change anytime soon. Anantara Chiang Mai Resort recently hosted an event to celebrate the renovations at the property. Chatrium Hospitality is set to unveil Chatrium Grand Bangkok on November 28, 2022. The hotel is located in the city’s Siam area and is an enhanced version of Chatrium’s luxury collection. -
North America
Strong Recovery Indicators for Remainder of 2022
The DJIA dropped 1.54%, Nasdaq fell 2.84%, the S&P 500 declined 2.11% and the 10-year treasury yield rose slightly, to 3.76%. After an outstanding summer of travel, Amadeus’ Agency360 and Demand360 data sources are showing strong recovery indicators for the remainder of 2022 and evidence of growing traveler confidence as the sector looks towards 2023. Service Properties Trust announced it entered into a purchase and sale agreement to sell 16 Marriott branded hotels totaling 2,155 keys for $137.3 million. -
North America
Canadian Hotels Will Return to Pre-Pandemic Revenues in 2023
The DJIA rose 197 points, Nasdaq was up 87, the S&P 500 rose 27 points and the 10-year treasury yield was up .04 to 3.49%. Hersha Hospitality is the latest lodging REIT to announce they have reinstated their quarterly cash dividend on the common shares. According to CBRE , Canadian hotels will return to pre-pandemic revenues next year, two years ahead of its previous forecast.