Fosun International

The DJIA rose 56 points while Nasdaq was up 162, the S&P 500 rose 35 points and the 10 year treasury yield fell .07 to 3.80%. Lodging stocks were modestly higher. Truist published a report on Vacation Ownership following 3Q results from the public companies involved in the segment. Genuine Hospitality announced the opening of Tru by Hilton Naperville Chicago , the first Tru by Hilton in Illinois.

Bloomberg said Fosun is also considering strategic options for French luxury resort chain Club Med SAS and could seek a value of about $1.5 billion for the business. Shanghai Disney Resort remains closed, two weeks after Covid-19 cases caused operations to cease. Marriott International announced plans to expand its select service portfolio in Greater China with the expected addition of 30 hotels in the segment by the end of 2023.

Accor said they are experiencing a sustained recovery in their Western Australia hotel, apartment, and resorts network . Accor also said they are bullish on India , with plans to open mid-level hotels across metros and budget brands in tier-2 and tier-3 cities but also adds to its luxury portfolio with another Raffles property in Jaipur soon. The Park Hotels will run a 65-room hotel at the Digha Convention Centre. An agreement was signed with the Kolkata Metropolitan Development Authority.  

Hyatt Hotels Corp announced plans for its continued growth in the Asia Pacific market. They unveiled a robust pipeline of landmark luxury and lifestyle hotels and resorts. CEL Australia has listed The Sebel Hotel Mandurah for sale as Western Australia reopens to the world post-pandemic. Andrew Tan’s flagship property firm Megaworld is opening a new Belmont Hotel within the 30-hectare Mactan Newtown in Lapu-Lapu City, Cebu.