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North America
Analysts Favor Hotel Brands Over Airbnb
The DJIA rose 27 points while Nasdaq was up 71, the S&P 500 was down 12 points, and the 10-year treasury yield was up .08 to 4.03%. MAR was up about 1.45% at the close. -
Asia-Pacific
Taylor Swift Concerts Boost More Hotels
China hotel industry shows strong rebound: RevPAR up 36.9%, surpassing pre-pandemic levels by 5.4%. Hong Kong hotels attract investors with discounts up to 30%, driven by cash-rich buyers seeking business district properties. Vietnam’s tourism recovery gains momentum: July international arrivals tripled compared to last year, reaching 79% of 2019 levels. -
Asia-Pacific
Accor’s $300 Million in APAC Hotel Renos and Refurbs
Accor Pacific’s partners have invested over $300 million in hotel renovations and refurbishments across various locations in the Pacific region to enhance guest satisfaction and maintain a leading position in the industry. Centara Udon in Thailand underwent renovations and now offers remodeled facilities, new dining options, and event spaces. S Hotels and Resorts PCL is set to open SO/ Maldives , a new resort on a private island with beachfront and over-water pool villas, and various dining venues in November 2023. -
North America
U.S. Hotel Sales Fell in First Half 2023
Stock Market: DJIA rises while Nasdaq and S&P 500 experience slight declines. Hotel Sales: Major U.S. hotel sales show decreases in transactions, dollar volume, and prices per key. Hotel Developments: Construction progresses on a skyscraper in New York and new hotels are planned in Virginia , Connecticut , and South Carolina . -
North America
New York Delays Airbnb Crackdown
Stock market: DJIA, Nasdaq, and S&P 500 showed gains, while lodging stocks were mixed. American travelers: High excitement for travel, but concerns about finances and travel costs have increased. Hotel developments: Renovations and new constructions announced in various locations, including Alabama, Oregon, Pennsylvania, Florida, and Massachusetts. -
North America
More San Francisco Hotels Face Loan Pressures
Stock Market: DJIA, Nasdaq, and S&P 500 showed gains, while lodging stocks had mixed performance. San Francisco Hotels: Park Hotels plans to surrender ownership, raising concerns about more foreclosures. Multiple hotels face loan due dates in the next two years. Hotel Updates: Various hotels undergo management changes, renovations, and new openings in different locations, including California, Illinois, Texas, and Canada. -
Asia-Pacific
Surge in Global Summer Travel Bookings
Summer travel bookings on Trip.com have surpassed 2019 levels, with intra-regional travel leading the way and significant increases in Asia and European markets. Top booked cities in Asia include Bangkok, Seoul, Tokyo, Hong Kong, and Taipei , while European users show interest in hotels in Asian and Middle Eastern destinations such as Bali, Dubai, Bangkok, Hong Kong, and Marrakech. Forecasts by the Pacific Asia Travel Association (PATA) indicate strong growth in international visitor arrivals across Asia Pacific destinations, although full recovery is expected to vary by scenario and region, with China projected to reach pre-pandemic volumes by 2024. -
North America
CBRE Raises Hotel Performance Forecast for 2023
STR reported US RevPAR for the week ended May 13 was down -1.3% year over year, possibly impacted by Mother’s Day timing. CBRE is again raising its forecast for hotel performance this year . The company has revised its forecast for 2023 RevPAR to $97.89, up 6.0% YOY and an increase of $0.43 from its previous forecast. Hilton announced the opening of Canopy by Hilton San Francisco SoMA . -
North America
Hyatt to Expand in Upper-Midscale Through Luxury
Hyatt Hotels held an Investor Day today. They are forecasting $650 to $850 million of free cash flow by 2025 and will be 80% asset-light for their earnings mix. Effective Thursday, the Board of Directors of Louvre Hotel Group has appointed Federico J. Gonzalez as Group CEO. Hilton announced the signing of a management agreement for the first all-inclusive Curio Collection by Hilton property in the Dominican Republic , the new build Zemi Miches All-Inclusive Resort, Curio Collection by Hilton. -
Asia-Pacific
Macau to Get Karl Lagerfeld Hotel, Maldives to Get a Rosewood
Golden Week started off with a bang in the SAR with Hong Kong reporting 165,000 people crossed the border into the city on the first day while more than 110,000 tourists from the Mainland left Hong Kong. In June, SJM will open the 271-room Karl Lagerfeld Hotel on Cotai in Macau . The project was initially unveiled in 2014 but was delayed for various reasons including the pandemic. The Rosewood Ranfaru in the Maldives is expected to open in 2027, stretched across a striking chain of private islands around a pristine lagoon in the South Male Atoll