DiamondRock Hospitality Company

Marriott International has begun a company-wide restructuring with layoffs across its corporate business, confirmed after hints in previous conference calls.

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.

Analysts expect the Fed's interest rate cuts to boost hotel REIT earnings, with Ashford Hospitality Trust and Braemar Hotel Trust being the biggest beneficiaries.

Wells Fargo adjusted ratings and price targets for several hotel stocks, upgrading some while cutting price targets for others.

About 400 workers at four Boston hotels began a three-day strike on Thursday. They're seeking higher wages and staffing levels.

Truist reports slight downward revisions in U.S. hotel booking and pricing trends for 3Q and 4Q, with modest growth expected in 2025, but no signs of a sudden pullback or near-term upside for RevPAR.

Truist reported that Lodging Econometrics expects steady hotel supply growth rates through 2026, supporting Ryman Hospitality with minimal new competition in large convention hotels.

Key events included DiamondRock Hospitality's upgrade, Hyatt and Apple Hospitality lowering guidance, and IHG reporting strong new room signings despite challenges in China.

Quarterly reports were mostly positive, but the week ended on a down note as hospitality stocks were down across the board.

In the shorter term, CBRE expects a 2% RevPAR growth in 2024, driven by international tourism and limited supply, despite a weaker first quarter and a reduced forecast from 3%.