Driftwood Capital

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

Marriott Vacations exceeded first quarter 2024 expectations, with steady EBITDA performance and a large share buyback, despite underwhelming results in its core Vacation Ownership segment.

Thanks to the shift in Easter in 2024 from March to April, RevPAR was down as a whole – but not in the top 25 markets in the U.S.

Barclays previewed the first quarter for the lodging sector, suggesting mixed RevPAR results due to the March Easter shift, but maintaining expectations for in-line EBITDA among large caps, while adjusting target prices for major hotel brands including Marriott, Hilton, Hyatt, Wyndham, and Choice Hotels.

Las Vegas saw a significant tourism and economic boost in 2023, highlighted by a surge in convention attendance, international visitors, and major events like the Las Vegas Grand Prix and the Super Bowl.

The market liked this conclusion: both companies' stock prices rose, with Choice Hotels up 6% and Wyndham Hotels 2%, indicating investor relief – or strategic reassessment.

In 2024, the company’s expansion plans include an initial goal of opening more than twenty hotels and continuing to sign as many new projects.

Wells Fargo predicts a stabilization in interest rates in 2024, benefiting hotel sector growth, with a focus on high-end leisure and Asia Pacific markets. Oppenheimer raised the target price for Host Hotels, and Driftwood Capital secured a significant refinancing loan for Hilton Cocoa Beach Oceanfront Hotel. There were key personnel changes in various hotel groups, such as Concord Hospitality and Great Wolf Resorts, indicating a focus on business development and wellness.

JP Morgan expects strong international performance in 3Q23 RevPAR, net rooms, and pipeline growth, particularly driven by ADR gains. Truist discusses potential challenges and concerns in the Choice Hotels and Wyndham Hotels deal, including antitrust issues and franchisee resistance. US hotel industry reports a modest 0.8% YoY increase in RevPAR, with ADR compensating for soft occupancy; group RevPAR up 0.9% for the week ending 10/14.

Somm Hotel and Spa in Woodinville, Washington, part of Marriott's Autograph Collection, is set to open in the summer of 2025 as part of a $700 million development. Home2 Suites by Hilton Houston/Katy in Texas completed renovations, featuring upgraded guestrooms and amenities. The Balbin Bros. Cigar Factory in Tampa, Florida, is undergoing transformation into a 70-room boutique hotel, aiming to open by March 2025 while preserving its historical value.