Hilton Hotels & Resorts

North America

Magna Buys Three Manhattan Hotels for $160 Million

Crescent Real Estate acquired the Element Orlando Universal Boulevard hotel, and the Delta Hotel in Wichita Falls, Texas, opened. Various hotel acquisitions and rebranding activities occurred, including the purchase of Hilton-branded hotels in New York, rebranding of properties as Trademark Collection by Wyndham, and the addition of Arlo Williamsburg to the Arlo Hotels portfolio. A $1.5 billion development plan for the Tennessee Titan's domed stadium area was announced, including a 40-story hotel, apartments, and retail spaces, with construction set to begin in 2025.
North America

Davidson, Dimension and HEI Lead in Satisfaction

The J.D. Power 2023 North America Third-Party Hotel Management Guest Satisfaction Benchmark reveals that hotel management companies' investments in renovations, maintenance, and staffing have led to increased guest satisfaction in areas like guest rooms and staff service. The benchmark highlights that guest anticipation of needs is a crucial factor, with 82% of interactions meeting this goal. Many guests desire modern lobby designs, but only 13% of branded hotels fulfill this criterion. Additionally, there's a demand for electric vehicle charging stations, with 19% of guests expressing interest.
North America

International Spending in U.S. Improves 24% Year Over Year

TD Cowen increased price targets for Hilton and Marriott, maintaining Outperform ratings. U.S. international travel spending surged in July 2023, with a trade surplus of $777 million. Various hotel developments and management changes were announced, including HEI Hotels & Resorts' management of Aloft Tampa Downtown and plans for new properties in New Brunswick and Denver, as well as a significant renovation of The Olana mansion in Texas.
Asia-Pacific

Accor Is Full Speed Ahead on China

Singapore's August visitation decreased by -7.8% compared to July, with 1.31 million visitors. Total eight-month arrivals remain nearly -30% lower than 2019. Accor SA aims to sign approximately 125 hotel partnership projects in China this year, with plans to introduce the Orient Express brand. Hilton plans to expand its Hilton Garden Inn brand throughout the Asia Pacific region, with a new regional room prototype introduced in Australia and New Zealand.
North America

JP Morgan Is a Bit More Enthused About Hyatt

Financial markets showed mixed performance with the DJIA, Nasdaq, and S&P 500 rising while the 10-year treasury yield also increased. JP Morgan expressed optimism about Hyatt's future, anticipating growth in RevPAR and an asset-light business model. Various hotel-related developments were reported, including property sales, renovations, and new openings, with several companies expanding their portfolios.
Asia-Pacific

South Korea Takes Steps to Woo More Chinese Tourists

China hotel RevPAR increased by 30.7% YoY but was down by -6.8% compared to 2019. South Korea aims to attract 1.5 million Chinese tourists, lifting group visit bans with incentives. H World Group refines strategy for post-pandemic tourism in China, focusing on quality growth and lower-tier cities.
North America

Motto and Voco Add Locations in New York City

Marriott is planning a new Residence Inn in Cary, North Carolina, featuring 122 guestrooms, meeting facilities, and various amenities. Hilton has opened Motto by Hilton New York City Times Square, marking the second Motto by Hilton brand in the city and the sixth Motto by Hilton overall. IHG Hotels & Resorts has celebrated the opening of a new Holiday Inn property in South Philadelphia after a $10 million conversion, marking their first IHG-banded property in the area.
North America

Hilton to Create Largest EV Charging Network in Hospitality Sector

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.
North America

Hotels May End the Year Strong Thanks to Group Business

Truist reports strong trends in the U.S. hotel industry, with no signs of demand slowdown and expectations of growth in Q4 2023, driven by group business, business travel, and international visitors. CoStar data indicates a shift in U.S. hotel occupancy trends, with family travel slowing, group events strengthening, and a return of business travel, particularly during weekdays. Various hotel-related developments include property updates, new hotel constructions, and management changes across different locations in the United States.
Asia-Pacific

Thai Hotels Association Warns Regulations Will Hurt Tourism

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.