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North America
Hilton Unveils Plans for Luxury Hotels in 2024
Wells Fargo downgraded Sunstone Hotels and revised DiamondRock Hospitality and Apple Hospitality’s ratings. According to the National Travel and Tourism Office, international visitors to the U.S. in October 2023 spent $18.9 billion, marking a 23% increase from the previous year. In 2024, Hilton’s luxury portfolio, inclusive of Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts and LXR Hotels & Resorts will announce offerings that will provide guests with new brand signatures. -
North America
Lodging Stocks End the Week Higher
Stock market rallied as treasury bond yields fell, with DJIA, Nasdaq, and S&P 500 gaining points, while lodging stocks like SOND, AHT, and others saw significant increases. Several hotel-related developments were announced, including renovations, new hotels, and property sales in various locations across the United States. Rosewood Hotels & Resorts will introduce Rosewood Blue Palace in Greece in 2025, while the British Colonial Hotel in Nassau, Bahamas, will reopen on December 12 after a $100 million renovation. -
North America
Apple Hospitality REIT Adds Key Marriott and Hyatt Properties to Portfolio
DJIA fell 174 points, Nasdaq down 85, S&P 500 down 27, and 10-year treasury yield surged to 4.71%. Financial analysis by JP Morgan on Marriott Vacations Worldwide, noting risk factors and a Neutral rating. Acquisitions by Apple Hospitality REIT, renovations of Marriott properties, and promotions at Noble House Hotels & Resorts, KSL Resorts, JLL’s Value and Risk Advisory platform, and Auberge Resorts Collection. -
North America
U.S. Hotels Enjoy Second-Highest Room Demand Ever for Month of September
Stock market indices showed gains on Friday, with DJIA up by 288 points, Nasdaq up by 212 points, and S&P 500 up by 50 points, while the 10-year treasury yield increased to 4.78%. San Francisco saw a significant increase in weekday occupancy, and STR reported a 66.3% occupancy rate for US hotels in September 2023. Several new hotels and renovations were announced, including Aloft Hotel near Fort Lauderdale, Residence Inn in Vail, and the Union Station Nashville Yards. -
North America
Rosewood Hotels & Resorts Expands Branded Residences in High-Demand Markets
U.S. hotel industry saw positive growth in RevPAR and rates for the week ending September 30, with Group RevPAR showing significant improvement. Rosewood Hotels & Resorts is expanding its branded residence portfolio especially in Europe. Various hotel projects and developments are underway in different locations, including downtown Springfield, Norfolk, San Antonio, Beaufort, and Las Vegas, with a range of amenities and timelines. -
North America
Deer Valley Resort Announces Massive Terrain Expansion and Village Development Plan
-Stock market saw gains: DJIA up 247, Nasdaq up 127, S&P 500 up 29. Various hotel reopenings and renovations, including The Hadsten Solvang and The Woodlands Resort. New hotel projects and expansions, such as Deer Valley Resort and Canopy by Hilton Cannes. -
North America
Hilton and Hyatt Get Analyst Thumbs-Up
Major indices, including DJIA, Nasdaq, and the S&P 500, experienced significant drops. BHR reached a new low, and Bernstein and B.Riley adjusted ratings and price targets for several key hotels. Hotel Transactions & Development**: Numerous hotel properties underwent ownership changes, refinancing, or development, with notable mentions like the Delta Hotels by Marriott New York Times Square and the Four Seasons Private Residences Las Vegas nearing completion. Aimbridge Hospitality strengthened its team, Melia Hotels announced multiple openings in Mexico, and Selina Hospitality launched a new location in Evia, Greece. -
North America
Canada Is Eagerly Building Hotels
Canada ‘s construction pipeline has a total of 275 projects and 37,359 rooms, with Ontario and Toronto leading in projects and rooms. Jeff Vinik is selling his share in the company that developed Water Street in Tampa, Florida, to Cascade Investment Fund LLC . Q Group Hospitality is launching a new LGBTQ+ boutique hotel, Queen Las Vegas, in Las Vegas , Nevada, featuring themed rooms and a nightclub. -
North America
Omni Hotels Rolls out a New Identity
Xenia Hotels & Resorts reported an in-line to a modest miss result and narrowed guidance. They repurchased common stock in the quarter. Chatham Lodging Trust had a 5% increase in RevPAR year over year and a 5% AFFO rise, with RevPAR down less than -2% from 2019. Several hotels announced new openings, acquisitions, and rebranding, including Omni Hotels & Resorts , Sonesta , Braintree Group , Elise Capital , Hyatt Hotels Corporation , and DiamondRock Hospitality Company . -
North America
JP Morgan Is Cautious About Hotel Earnings Season
Financial Markets: DJIA up 184 points, Nasdaq up 26, S&P 500 rose 18 points, and 10-year treasury yield up to 3.86%. Lodging stocks performed poorly despite overall market gains. JP Morgan anticipates unimpressive 2Q23 RevPAR results and mixed net rooms growth in the lodging sector. They remain cautious due to tougher year-over-year comparisons and potential effects from tightening credit conditions. Several hotels are being developed or opened, including a 100-room hotel in Northeast Philadelphia, a Marriott Residence Inn in West Vail, and a Fairfield Inn & Suites in Conway, South Carolina. Some projects are facing challenges, like the halted construction of a Homewood Suites in Skokie, Illinois, due to high-interest rates.