Days Inn

North America

NoMad Las Vegas Will Be Rebranded

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.
North America

Hotel Job Growth Slows Down

While U.S. unemployment remains below 4%, employment growth has been slowing and hotel job openings have also slowed. Wage growth outpaced inflation, but RevPAR contracted again in January.
North America

Global Hotel Rate Bubble Watch

A new report for 2023 shows 85% of markets with RevPAR higher than 2019. In terms of top-line performance, that means most markets have recovered from the significant declines caused by the pandemic.
North America

Hilton and Hallmark Launch Christmas-Themed Partnership

Hilton Worldwide Holdings Inc has entered into a partnership with Hallmark Channel to create Christmas-themed suites inspired by Hallmark’s “Countdown to Christmas” movies. The Waldorf Astoria Las Vegas has completed phase one of a multimillion-dollar property-wide transformation. This includes a redesign of all 389 guestrooms and suites and upgrades to meeting and event spaces. Margaritaville Resort Lake Tahoe, located in South Lake Tahoe, California, has announced its December 14th opening date. The transformation of the former Lake Tahoe Resort Hotel into a Margaritaville property cost over $70 million.
North America

Apple Hospitality, RLJ and Sunstone Beat Estimates

Stock market indices, including DJIA, Nasdaq, and S&P 500, experienced declines on Friday, with the 10-year treasury yield also dropping notably. Some lodging companies reported mixed earnings, with Apple Hospitality , RLJ , and Sunstone Hotel Investors beating expectations, while DiamondRock Hospitality and Playa Hotels missed estimates. Several hotel chains, including Wyndham Hotels & Resorts and LuxUrban Hotels, Inc. , are making expansion deals, and various hotel properties are undergoing renovations and acquisitions in different locations.
Asia-Pacific

Vietnam Has an Oversupply of Hotels

China hotel RevPAR showed significant year-over-year growth of 50.4% for the week ending July 1, 2023, compared to a decline in 2019 and 7.6% decline in the same period. Vietnam’s international visitor numbers reached 70% of their 2023 projection but remained below expectations due to fierce competition and an economic recession. Domestic tourism in Vietnam is also experiencing a decline. Worldwide Hotels Group made significant acquisitions in Melbourne and Singapore , representing the largest hotel transaction in Melbourne in over six years and the largest single-asset Singapore hotel transaction in Asia Pacific in 2023.
North America

Commonwealth Hotels Acquires 2 Houston Properties

Overall, stocks gave back most of their pre-market gains. Lodging stocks wound up mixed on the day. Commonwealth Hotels acquired the 120-suite Residence Inn Houston-West University and the 100-room Courtyard by Marriott Houston-West University. Aimbridge Hospitality announced the expansion of its portfolio with the addition of three extended stay properties recently acquired by Three Wall Capital, LLC.
North America

Lodging Stocks Hit New Lows While RevPAR Continues to Impress

The Fed Sell Off continues in the financial markets as the DJIA fell another 486 points on Friday, Nasdaq was down 199, the S&P 500 fell 65 points and the 10-year treasury yield was down .01 to 3.70%. In New York City, the Skift (parent company of this publication) conference generated a lot of headlines, the biggest one being Barry Diller of IAC once again trashing working from home. Lodging stocks are hitting new lows, while RevPAR continues to impress.
Asia-Pacific

Macau Visitors Still Down YoY

Macau’s tally of visitors reached 81,798 for the seven days from August 12 to August 18 inclusive, a daily average of about 11,685. According to the latest Construction Pipeline Trend Report from Lodging Econometrics , the total China hotel construction pipeline is at 3,693 projects/701,974 rooms. Hilton signed six new luxury hotels in Asia Pacific which will open over the next four years.