Autograph Collection

Marriott International followed up Hilton’s solid 4Q earnings report with one of their own, easily beating estimates on solid 4.6% RevPAR growth. 21c Museum Hotels will open its tenth hotel this spring, a 10-story lodging in St. Louis, Missouri.  Marriott was up $6.90 a share, Hyatt was up $4.73, Hilton was up $2.38 and Airbnb is currently surging double digits in after hours trading on their earnings report

According to STR , Phoenix’s hotel RevPAR is forecasted to reach $419 for February 10-12, which would be the second-highest level for a Super Bowl weekend . On Friday lodging stocks were lower. SOND was the biggest mover, down -8% while ABNB was down -5% on the day. White Lodging announced the renaming of its new Autograph Collection hotel in San Antonio, Texas , formerly known as The Otis Hotel .

Marriott International announced it signed an agreement with China Central Place, Suzhou to bring the Ritz-Carlton and Marriott Executive Apartments brands to Suzhou. Following in the footsteps of Hong Kong, Macau said they may start paying people to come to visit. Macau’s latest ploy to attract new visitors is an incentive scheme for foreigners that would mimic the promotional arrangement afforded to mainlanders. TIAD is a luxury hotel currently under construction and scheduled to open July 1 in central Nagoya in Japan . They formed a partnership with Marriott International.

After 25 consecutive months of year-over-year declines, U.S. hotel construction increased slightly in December. Wells Fargo cut their price target on Airbnb to $130 from $165. They maintained their Overweight rating. STR said US hotel RevPAR the week ended 1/14 was up 33.1%. RevPAR was up 9.4% versus the same week in 2019.

The DJIA  fell 392 points but Nasdaq was up 16, the S&P 500 rose 8 points and the 10-year treasury yield was up .02 to 3.54%. Lodging stocks were modestly higher with no major movers. Investment firm Sortis agreed to acquire Ace Group International for $85 million . The all-cash deal will give Sortis the boutique Ace Hotels brand and its hotel management company. International visitors spent more than $15.9 billion on travel to, and tourism-related activities within, the United States , an increase of nearly 57% compared to November 2021

Yesterday, Pebblebrook Hotel Trust lowered guidance for 4Q results and shook up the industry a bit. Today, Ryman Hospitality did the opposite. Lodging stocks were mostly lower with a long list of new lows, many of them REITs. New lows were set by PEB, PK, AHT, SHO, XHR, ABNB and VCSA Marriott International announced that long-time executive Stephanie Linnartz is leaving the company, effective February 24, 2023.

Pebblebrook Hotel Trust cut their guidance for 4Q , citing a demand impact from Hurricane Nicole in November and weaker business/leisure demand at the end of that month. STR said US hotel RevPAR the week ended 12/17 was up 12% year over year while up 35% over the week in 2019 . U.S. hotel occupancy for Christmas and New Years mirrors 2019 trends , with warm destinations proving popular according to Amadeus .

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.

The DJIA fell 211 points while Nasdaq was down 127, the S&P 500 fell 36 points and the 10 year treasury yield was up .05 to 3.87%. Lodging stocks were modestly lower. SLNA was the big mover, down -7%. B.Riley lowered its price target for Braemar Hotels & Resorts to $9 from $12; on Ashford Inc . to $18 from $23 and on Ashford Hospitality Trust to $9 from $12. Red Roof held its 2022 Brand Conference, telling their franchise owners they are positioned for long-term growth.

DiamondRock Hospitality reported 3Q results, beating the preliminary results they announced two weeks ago. Jefferies cut its rating on Xenia Hotels & Resorts to Hold from Buy. Lodging stocks were mixed. SLNA plunged another -20%, quickly becoming the biggest disaster in a long line of SPAC disappointments in the past year