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North America
U.S. Lodging Stocks Are in Safe Mode
Ryman Hospitality Properties became the latest lodging REIT to reinstate something more than a token dividend. CBRE Hotels said they are raising their forecast for hotel performance on the heels of industry gains in Q2 2022 and the expectation of slightly positive GDP growth in 2023. Wolfgramm Capital has acquired the Waldorf Astoria Park City hotel in Park City, UT. The property was acquired off-market and as part of an all-cash deal. -
North America
New U.S. Lodging Per Diems Disappoint
Fed Chief Jerome Powell once again roiled the financial markets with a speech. JP Morgan cut its view on IHG Hotels & Resorts to Neutral from Overweight. Hoteliers did not seem very pleased with the US General Services Administration’s increase in lodging per diems for 2023.