Hard Rock Hotels & Casinos

In January, Toronto hotels charged slightly more than Vancouver’s amid rising rates and lower occupancy nationwide, with Edmonton notably lagging behind.

Aimbridge Hospitality is restructuring its finances by converting $1.1 billion in debt to equity, securing $100 million in new capital, and shifting majority ownership to its first lien lenders, with completion expected in early 2025.

Marriott International has begun a company-wide restructuring with layoffs across its corporate business, confirmed after hints in previous conference calls.

Baird predicts short-term negative impacts on hotel revenues from recent hurricanes but expects a boost in the intermediate term due to FEMA, insurance, and clean-up crew spending, especially benefiting select service and extended-stay hotels

Asia's largest Hard Rock Hotel will open in 2027 at Genting Highlands' King's Park, featuring 1,001 rooms and various amenities as part of a larger entertainment and business district project.

The Pacific Asia Travel Association (PATA) laid out tourism recovery scenarios for the Asia Pacific, predicting a slow recovery with 2024 arrivals still 31% below 2019 levels, and a range of outcomes for Thailand by 2026.

Hard Rock International will cease operations of The Mirage Hotel & Casino to begin transforming the venue into the Hard Rock Hotel & Casino and Guitar Hotel Las Vegas. The new resort will feature a guitar-shaped hotel nearly 700 feet in height.

Barclays updated their U.S. lodging REIT estimates ahead of the onslaught of expected conservative earnings that are coming.

Ahead of Ryman Hospitality Properties’ Investor Day, Truist Securities upped their price target for the REIT.

JP Morgan upgraded Choice Hotels to Neutral and shifted Host Hotels, Park Hotels, Ryman Hospitality, and Sunstone Hotels to Neutral, citing less downside in lodging REITs. CoStar forecasts U.S. hotel demand growth of 1.8% in 2024, with occupancy increasing by 1% and room rate growth aligning with inflation, leading to RevPAR growth of 4.8% this year and 4% in 2024. Barclays shifted to Equal Weight on Marriott Vacations, expressing uncertainty in company-specific execution and favoring Hilton Grand Vacations in the timeshare sector.