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North America
New York Hotel Union Marks Historic Victory
Craig-Hallum initiated coverage of LuxUrban Hotels with a Buy rating and a $10 price target. A New York hotel union reached a deal with hotel owners and operators, boosting the wages of hospitality workers by $7.50 an hour, the largest increase in the union’s 100-year history . Beginning this month, Waldorf Astoria Orlando in Florida will undergo a comprehensive, multi-phase re-imagination expected to debut in December 2023. -
North America
Belmond and the Cipriani Family Make Peace
RLJ Lodging Trust reported in-line results with some limited guidance they gave in January at ALIS. Summit Hotel Properties reported 4Q results ahead of estimates with strong earnings contributions from the recently acquired properties, including NewcrestImage. Argus Research upped their rating on Airbnb to Buy from Hold with a $144 price target. -
North America
State of Global Hotel Construction Pipeline for Q4 Year End
The biggest surprise of this earnings season is how bullish analysts seem to be coming out of it. Lodging Econometrics released its Q4 year-end Global Construction Pipeline Trend Report . At the close of 2022, LE analysts state that the total global construction pipeline stands at 14,267 projects with 2,298,846 rooms. The 473-room, La Concha Resort , in San Juan, Puerto Rico, has joined Marriott International’s Autograph Collection .