Ascend Hotel Collection

North America

Choice Is Pursing Wyndham

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 .
North America

IHG to Get New CEO Elie Maalouf

InterContinental Hotels Group announced Keith Barr has informed the Board of his decision to step down from his role as Group Chief Executive Officer and from the IHG Board. Playa Hotels & Resorts reported a 1Q beat and repurchased 5 million shares for $42.6 million in 1Q as well as another 2.1 million shares for $20 million in April. During Q1 2023, RevPAR grew 13% compared to 2019 , fueled by higher ADR and growth in business and group demand as well as strong leisure travel, according to JLL’s latest U.S. Hotel Investment Trends report.
North America

Kayak’s Hotel May Be Seized in a $13 Million Foreclosure Lawsuit

Truist gave their 1Q lodging earnings preview . While they continue to see macro over micro with the main driver/wildcard coming from the economic impact of high interest rates and inflation, at a minimum they expect results to be in-line but more likely ahead. The Kayak Miami Beach hotel could be seized in a $13.68 million foreclosure lawsuit. The ART Hotel Denver, Curio Collection by Hilton announced the completion of its $3 million property-wide refresh to its 165 rooms and suites, 7,500 square feet of flexible meeting and event spaces, fitness center, private dining and public spaces.
North America

U.S. Hotel Sector Continues Its Recovery

The  DJIA gained about 1%, or about 270 points, while  Nasdaq  rallied 2.4%. The  S&P 500  added about 1.7%, erasing an earlier decline of 0.7%, and the  10-year treasury yield  climbed to 3.58%. It’s been a wild week. Baird upgraded their rating on Choice Hotels International to Outperform. They believe their earnings outlook is improving for 2023-2024. IHG Hotels & Resorts continues to demonstrate the strength of its Holiday Inn brand family in Southern Europe
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.
North America

Baird’s 2023 REIT Outlook Is Cautious

Lodging stocks were higher with the only big mover of note once again being AHT, up another 6%. Baird gave their 2023 Hotel REIT outlook saying they are taking a more balanced approach in early 2023 as macroeconomic risks and growing expense pressures keep them selective. STR announced U.S. lodging data for the week ended January 7th. Year over year RevPAR was up 21.8% on easy comps due to holiday/school timing and the Omicron outbreak last year.
North America

Allegiant Air Delays Opening of Florida Resort

The  DJIA  fell 94 points,  Nasdaq  was down 110, the  S&P 500  fell 27 points and the  10-year treasury yield  was up .01 to 3.89%. The parent of  Allegiant Air  said that damage from Hurricane Ian has caused the company to delay the planned opening of a resort north of Fort Myers, FL at Charlotte Harbor. Royal Investments LLC , the developer of a proposed Downtown hotel in  Louisville, KY , is seeking a new tax increment financing district for the project.