Garner

NoMad's Las Vegas property will be left behind as new owner Hilton focuses on other properties currently – and in the future – of the brand.

The World Travel & Tourism Council predicts 2024 will be a record year for the sector, with an economic contribution expected to hit $11.1 trillion, indicating robust growth and significant job creation.

Club Med released new data showing the company has reached a fresh milestone by achieving more than $2 billion in international business volume for the first time ever.

Hyatt aims to expand its presence in China's economy and midscale hotel segments, leveraging local partnerships and focusing on second and third-tier cities.

The earnings season for hotel companies kicked into high gear with Host Hotels and Pebblebrook becoming the first REITs to show their hand.

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.

China’s outbound travel bookings for the upcoming Chinese New Year holidays have surged more than 10 times compared to the previous year.

Apple Hospitality REIT declared a regular monthly cash dividend and a special distribution. Bluegreen Vacation Holdings' acquisition by Hilton Grand Vacations moved forward with the expiration of the waiting period under the Hart-Scott-Rodino Act. Several new hotel openings and acquisitions were announced, including AC Hotels by Marriott in Naples, Moxy by Marriott in Houston, IHG's first Garner hotel, and Choice Hotels International's 100th Suburban Studios hotel.

Deutsche Bank initiated coverage on Hilton Grand Vacations with a Buy rating and a $59 price target, citing compelling stock levels. Hyatt CEO Mark Hoplamazian observed a return to offices in big cities, indicating potential growth in business transient travel. Hilton plans to install up to 20,000 Tesla Universal Wall Connectors at 2,000 hotels in North America, creating the largest EV charging network in the hospitality industry.

Market Performance: DJIA, Nasdaq, and S&P 500 experienced declines while the 10-year treasury yield increased. Lodging stocks showed mixed to modestly lower results. BHR traded down to a new low. Hotel Investment Insights: Baird reported on meetings with Xenia Hotels & Resorts' management, highlighting patience required due to leisure trends and Scottsdale renovation disruption. S&P upgraded XHR's ratings based on improved RevPAR and EBITDA outlook. Industry Developments: Hilton plans automatic housekeeping, Courtyard Wichita completes renovation, District Hospitality Partners acquires Westin Annapolis, Cascade Hotel Kansas City to open, Aimbridge to manage Marriott properties, Hyatt introduces Hyatt Studios brand, IHG launches midscale brand Garner, various expansion and renovation projects noted.