CoralTree Hospitality

Global hotel investments are booming, with a 13% RevPAR increase, high cross-border deals, and $42.1B in transactions, driven by strong demand for luxury and select-service hotels.

Skyline Investments sold 11 Courtyard by Marriott hotels in the U.S. for $101 million, retaining ownership of three other Courtyard properties, which are up for sale.

citizenM has opened its second Boston property, citizenM Boston Back Bay, a 15-story hotel with 399 guestrooms, curated artwork, and a rooftop bar, making it the company's largest hotel within the Lyrik development.

Hilton beat estimates and cut guidance, and seemed to have a report that was accepted more than Marriott ’s.  The company has raised their net room growth target for the year and it repurchased shares this quarter.

NoMad's Las Vegas property will be left behind as new owner Hilton focuses on other properties currently – and in the future – of the brand.

Marriott Vacations Worldwide introduced The Marriott Vacation Clubs City Collection, featuring branded properties in seven cities with plans for expansion to other urban areas, including the addition of two Westin Vacation Club properties.

The Fed Chief made it pretty clear there will be no interest rates lowered for some time and the markets seemed to like the certainty.

Home2 Suites by Hilton announced its newest property, Home2 Suites by Hilton Phoenix Downtown.

JP Morgan upgraded Choice Hotels to Neutral and shifted Host Hotels, Park Hotels, Ryman Hospitality, and Sunstone Hotels to Neutral, citing less downside in lodging REITs. CoStar forecasts U.S. hotel demand growth of 1.8% in 2024, with occupancy increasing by 1% and room rate growth aligning with inflation, leading to RevPAR growth of 4.8% this year and 4% in 2024. Barclays shifted to Equal Weight on Marriott Vacations, expressing uncertainty in company-specific execution and favoring Hilton Grand Vacations in the timeshare sector.

Stock market: DJIA fell 233 points, Nasdaq rose by 53 points, and S&P 500 increased by 4 points Federal Reserve: Paused interest rate hikes but anticipates at least two more in the next 6 months, causing confusion in the financial markets Lodging industry: SOND experienced a notable decline of -7%, while other lodging stocks were modestly lower. Various hotel companies reported on post-pandemic themes, opportunities for rate growth, and potential impacts of a recession scenario.