Hard Rock Hotels & Casinos

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.

Efforts to attract Chinese tourists to Southeast Asia are falling short, with drops in arrivals to Thailand, Cambodia, and Vietnam; Thailand's visa exemption offers a temporary boost. Numerous hotel developments across Asia include expansions by Amora Group, partnerships in Malaysia and Indonesia, and potential property transformations in Singapore and Australia. DigiPlus Interactive Corp. aims to resurrect a $500 million casino resort on Boracay Island, hoping for favorable response from the Marcos administration.

The Thai Hotels Association (THA) expresses concerns about new regulations that exclude accommodations with up to eight rooms and 30 guests from the hotel business, anticipating a 15% to 20% loss in tourism revenue and increased safety risks. The THA believes these regulations have more disadvantages than benefits, while the Tourism Council of Thailand supports them. Speculation grows regarding the legalization of casino gambling in Thailand within three years, attracting international and regional operators. The text emphasizes the importance of the government's approach to legalization, as it could affect investor interest, citing examples from other countries like Vietnam, South Korea, and Japan. New World Hotels & Resorts, an upper-upscale hotel brand under Rosewood Hotel Group, is actively expanding in Asia. They plan to have 18 operating hotels by the end of the year, with two more opening in 2024. The brand is entering various markets, including Mainland China, Vietnam, and Japan.