-
North America
MCR Looks to Miami Hotels
MCR plans to build two eight-story hotels with a total of 400 rooms and additional parking facilities next to the Hilton Miami Airport Blue Lagoon. -
North America
Travel + Leisure Finalizes Accor Vacation Club Acquisition
Travel + Leisure Co. has closed the acquisition of the vacation ownership business of Accor. The acquisition is expected to be immediately accretive to Travel + Leisure Co. earnings. -
North America
IHG Gives a Strategy Update
IHG posted slightly better than expected results with the most publicized part of the release being their intention to give more $1 billion back to shareholders in 2024. -
North America
Even Hotels Plans 40% Expansion in the U.S. with Revamped Prototype
Stifel reduced Hyatt Hotels’ target price to $115/share while maintaining a Hold rating. Pebblebrook Hotels warned of 3Q impacts due to storms in California and Florida, affecting same property RevPAR. U.S. Travel Association reports a federal government shutdown could cost the travel economy up to $140 million/day, causing negative consequences for air travel and travelers’ plans. -
North America
Canada’s Hotel ADR and RevPAR Hit Record High in 2022
Gordon Haskett downgraded Airbnb to Underperform from Hold. They lowered their price target to $87 from $94. The firm also cut their rating on Booking.com to Hold from Buy. STR reported US lodging data for the week ended 1/21. RevPAR was up 26.2% year over year while up 5.6% versus 2019. The DJIA rose 9.88 points, or little change. Nasdaq fell 0.2%; S&P 500 was barely changed. The 10-year Treasury yield fell to 3.461%. -
North America
Hyatt’s Grand Ambitions for 2023
Lodging stocks were higher. SLNA topped the list with a 10% gain followed by AHT and VCSA, both up 6%. We start today’s newsletter on a sad note as many of you probably heard that Bruce White , the founder and chairman of White Lodging , passed away at the age of 70. Pebblebrook Hotel Trust gave a January operations update and include an update on 4Q preliminary results. Remember they roiled the Lodging REIT stocks when they preannounced weaker than expected 4Q results. -
North America
Airbnb’s Listings in New York Will Shrink
Morgan Stanley re-launched coverage on the lodging sector, saying they prefer C-Corps over REITs . Truist updated their estimates and price targets on some hotel names in their coverage. According to the NY Daily News, more than 10,000 Airbnb listings for short-term rentals in New York City are likely to disappear when tight new housing rules take effect next year. -
North America
International Tourist Arrivals Triple YoY
The DJIA fell 347 points while Nasdaq was down 75, the S&P 500 fell 39 points and the 10-year treasury yield was up .07 to 3.83% STR said US hotel RevPAR the week ending 10/1 was up 22.6% year over year , helped by Hurricane Ian and the holiday shift. According to the latest UNWTO World Tourism Barometer , international tourist arrivals almost tripled from January to July 2022 (+172%) compared to the same period in 2021