Cobblestone Hotels

Some takeaways from Truist include that the hotel transaction market is finally showing actual signs of thawing, instead of being talked about. Plus, more hotel deal and development news.

Sultan of Brunei reportedly bids $2 billion for Pierre Hotel, threatening IHCL's Taj brand management contract. Plus other hotel deal and development news.

First Hospitality unveils $400 million fund to acquire premium hotels, opening decades-old investment division to outside investors.

Multiple hotel companies announced property openings globally, including Peachtree Group receiving USCIS approval for a SpringHill Suites in Utah.

U.S. hoteliers expect strong group sales growth by 2025, driven by demand from tech, healthcare, and construction, with resorts seeing the fastest increase despite federal spending concerns.

Wells Fargo adjusted ratings and price targets for several hotel stocks, upgrading some while cutting price targets for others.

At the close of 2023, analysts state that the total global construction pipeline stands at 15,196 projects and 2,367,727 rooms, a 7% increase in projects and a 3% increase in rooms year-over-year.

Stock market indices experienced a decline, with DJIA falling 102 points, Nasdaq down 165 points, and S&P 500 falling 23 points. The American Hotel & Lodging Association successfully lobbied for new PPP eligibility guidelines, allowing hotel owners who used third-party management companies to qualify for loan forgiveness. The U.S. hotel industry reported improved performance in May 2023 compared to the previous year, with increased occupancy, ADR, and RevPAR, particularly in the top 25 markets.

Airbnb definitely got a better response from investors on their 4Q earnings report than traditional lodging analysts. Choice Hotels continued the parade with 4Q revenue and EBITDA comfortably above estimates with the Radisson acquisition helping with that. STR reported U.S. lodging data for the week ended 2/11. RevPAR was up 18.9% year over year.

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.