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North America
All Hotel Classes Are Showing ADR Recovery
The DJIA fell 400 points on Friday while Nasdaq was down 328, the S&P 500 fell 86 points and the 10- year treasury yield pierced the 4% ceiling and probably is not done yet. According to CoStar , boutique hotels are performing well in 2022 and all classes show recovery in ADR, surpassing 2019 peak levels and leading the U.S. hotel industry. Hilton and Dittmar Company announced the signing of Hilton at The Key, Arlington-Rosslyn , located just minutes from Washington D.C. in Arlington, VA. -
North America
Early October U.S. Hotel RevPAR Up 13% Over Same Period 2019
The DJIA fell 28 points, Nasdaq was down 9, the S&P 500 fell 12 points and the 10-year treasury yield was down .04 to 3.90%. Braemar Hotels & Resorts Inc . reported the company expects to report occupancy of approximately 71% for the third quarter of 2022 with an ADR of approximately $403 resulting in RevPAR of approximately $288. Ashford Hospitality Trust, Inc . announced the company expects to report occupancy of approximately 71% for the third quarter of 2022 with an ADR of approximately $179 resulting in RevPAR of approximately $127. -
North America
Hurricane Ian’s Impact on Florida Hotels
The DJIA surged 765 points while Nasdaq was up 234, the S&P 500 rose 90 points and the 10 year treasury yield was down .15 to 3.66%. Raymond James reported on hotels impacted by Hurricane Ian ’s decimation of southwest Florida. While Tampa Bay dodged the bullet, Sarasota all the way down took a hit led by Naples, Fort Myers, Sanibel, Captiva, Boca Grande, Venice and Punta Gorda. Aimbridge Hospitality announces its international division , Interstate Hotel & Resorts has launched its new corporate identity, formally debuting as the Aimbridge EMEA division. -
Asia-Pacific
Standard International Seeks APAC Expansion
Dajia Insurance Group Co has put three hotels in the US up for sale, hoping to generate US$1.3 billion to take advantage of an expected surge in leisure travel and resort business. U.S. hotel operator Standard International is betting on Thailand’s post-pandemic tourism recovery. Bloomberg said Standard is hoping to power an expansion in Asia that will see it open properties in popular and less-explored destinations. The new $340 million dual-tower Docklands development in Melbourne, Australia will include a huge rooftop infinity pool, spanning 35 meters when it opens in 2026. -
North America
Two Perspectives on Hotel Recovery
The DJIA fell 139 points on Friday while Nasdaq was down 104, the S&P 500 fell 28 points and the 10-year treasury yield was down .01 to 3.45%. Citigroup cut its rating on IHG Hotels & Resorts to Sell from Neutral. Citi believes the incomplete recovery in corporate travel will weigh on IHG’s RevPAR. Berenberg , on the other hand, sees hotels as the top travel play . The brokerage firm says concerns about the hotel industry are overblown and the outlook for RevPAR for 2023 and 2024 will strengthen further. -
North America
Short-Term Rental Demand Is Up
The DJIA ended the day down 280 points while Nasdaq was down 67, the S&P 500 fell 31 points and the 10 year treasury yield was up .02 to 3.13%. Lodging stocks were lower. MCG fell -8% today and hit a new all time low. SOND was up 5%. STR said U.S. hotel RevPAR for the week ending August 27 th was up 18.2%. RevPAR versus the same week in 2019 was up 12.1%. Speaking during a session at the Hotel Data Conference , AirDNA Director of Product Max Bernstein said as of June 2022, demand for short-term rentals is up 21% indexed to 2019 -
North America
Wells Fargo Changes Lodging Coverage
The DJIA fell 184 points, Nasdaq was down 124, the S&P 500 was down 27 points and the 10-year treasury yield was up .08 to 3.11%. Wells Fargo made a few changes to their coverage of lodging names . They cut their ratings on Hersha Hospitality, DiamondRock Hospitality and Pebblebrook Hotel Trust to Equal Weight from the previous Overweight ratings Four Seasons Hotels and Resorts unveiled its new brand creative platform, Luxury Is Our Love Language , celebrating the brand’s unique and energetic perspective on the definition of luxury.