Cobblestone Hotels

North America

Global Hotel Construction Pipeline Sets a New Record

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.
North America

U.S. Hotels See RevPAR Surge

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.
North America

Airbnb Has Its First Profitable Year

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.
North America

Hotel Asset Sales Pick Up

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.
North America

Deutsche Bank Forecasts Modest Hotel Sector Growth in 2023

Lodging stocks were modestly lower. SOND fell -8%, the biggest mover in the group Friday. SLNA traded down to yet another new low. Both Hersha Hospitality Trust and Host Hotels announced special dividends. HT announced its board of trustees approved a special dividend of $0.50 per common share for the year 2022. Deutsche Ban k said 2022 was a year when the lodging recovery was swiftly realized.
North America

DiamondRock Beats Preliminary Results

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
North America

Short-Term Rental Demand Is Up

The  DJIA  ended the day down 280 points while  Nasdaq  was down 67, the  S&P 500 fell 31 points and the 10 year treasury yield was up .02 to 3.13%. Lodging stocks were lower.  MCG  fell -8% today and hit a new all time low.  SOND  was up 5%. STR  said  U.S. hotel RevPAR  for the week ending August 27 th  was up 18.2%.  RevPAR versus the same week in 2019 was up 12.1%. Speaking during a session at the  Hotel Data Conference ,  AirDNA Director of Product Max Bernstein  said as of June 2022,  demand for short-term rentals  is up 21% indexed to 2019