Dream Hotels

Scandic Hotels will manage Dalata's hotels in the UK and Ireland, expanding the group outside of Scandinavia. And more hotel deal and development news.

Hyatt launches new Unscripted brand with 40 hotels in talks. IHG sees total global conversion signings nearly doubling between 2023 and 2024.

Hyatt’s stock dropped over 6% after the company lowered its growth outlook, adjusted EBITDA, and free cash flow guidance for 2024.

Disney's Island Tower at Polynesian Villas & Bungalows, opening December 2024, says it will be an eco-friendly addition to Walt Disney World.

Truist reports that lodging companies aren't experiencing recession-driven demand declines, with strong group and individual business but weak domestic leisure. Dolly Parton may be venturing into Nashville's hotel market with a $75 million building acquisition, and Toftrees Golf Resort in Pennsylvania announces a $50 million renovation. A new $175 million development in Mishawaka, Indiana, includes apartments, townhomes, and a 125-room hotel.

DJIA, Nasdaq down; S&P 500 fell; 10-year treasury yield up. Hotel Trends: Global RevPAR growth; Canada's record ADR and RevPAR; mixed occupancy rates. Developments: Hotel expansions, renovations; Hyatt Vacation Club launch; new CEOs, brand in Croatia.

Financial markets experienced declines with the DJIA falling 187 points and the S&P 500 down 13 points, while Nasdaq dropped 18 points. However, lodging stocks showed mixed to higher performance despite the overall market decline. Ashford Hospitality Trust (AHT) expects to return 19 hotels to lenders in various cities, including Las Vegas and Atlanta, due to missed repayment deadlines on a $982 million mortgage pool. AHT faced negative equity in the properties and opted not to pay for an extension, potentially impacting the hotel industry's debt situation. STR's global "bubble chart" update revealed that 85% of markets saw growth in Revenue Per Available Room (RevPAR) compared to 2019. Occupancy rates played a significant role in driving RevPAR, with coastal countries along the Mediterranean Sea showing strong growth. However, Saudi Arabia experienced the largest decline in RevPAR at 51%.

Soho House reported mostly in-line estimates. Adjusted EBITDA was in line despite revenue being slightly lower than expectations. Morgan Stanley upped their target price on Hyatt to $142 from $139 while maintaining their Overweight rating. Marriott International announced a 30% increase in their quarterly dividend, to $0.52 a share.

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.

Aimbridge Hospitality has acquired the management arm of Terrapin Hospitality , with 71 hotels located in 21 states. This aggregates to over 8,100 keys transitioning to Aimbridge management. B.Riley lowered their price target on Ashford Inc. to $14 from $18, they maintained their Neutral rating on the stock. IHG Hotels & Resorts announced the opening of a new Holiday Inn Express & Suites Hotel in Glendale, California .