Marriott Vacations Worldwide's stock fell sharply due to a disappointing earnings report and a significant loan loss provision, indicating struggles in the timeshare market.
The DJIA rose 99 points while Nasdaq surged 452, the S&P 500 rose 86 points and the 10-year treasury yield was down .03 to 4.11%. Lodging stocks were modestly higher, did much better due to the…
A stalking-horse buyer has offered $500 million for the abandoned Oceanwide Plaza in Downtown Los Angeles, which includes a partially built Park Hyatt hotel.
Blackwells Capital attempted to buy Braemar Hotels & Resorts, failed, and is now trying to elect four directors to BHR's board despite owning a minimal amount of shares, facing opposition and legal action from BHR.
Travel + Leisure Co. has closed the acquisition of the vacation ownership business of Accor. The acquisition is expected to be immediately accretive to Travel + Leisure Co. earnings.
Marriott International announced a year of robust room signings and additions across the Caribbean and Latin America in 2023. The Company nearly doubled its number of organic deal signings in the region versus the prior year.
STR reported US lodging data for the week ended 2/10. US hotel RevPAR was up 3.9% with ADR up 7%. RevPAR in Las Vegas was up 140% year over year thanks to the Super Bowl.
Hospitality Ventures Management added 15 new hotels in 2023 to its portfolio of select-service, full-service and resort properties. Most of these additions are Marriott, Hilton, and Hyatt brands.