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North America
The U.S. Hotel Pipeline at the End of Q3 2023
Top U.S. hotel construction markets in Q3 2023: Dallas, Atlanta, Nashville, Phoenix, and the Inland Empire lead in the number of projects and rooms. Hotel renovation and conversion pipeline activity remains strong with 1,912 hotels and 285,568 rooms currently undergoing renovations. Notable openings and developments include the Candlewood Extended Stay Suites in Kennesaw, Avenue Hotels & Residences in Coral Gables, Hotel Lucine in Galveston, and Radisson RED Helsinki. -
North America
Accor Forecasts Robust Revenue and Profit for 2023
PEB reported better-than-expected 3Q results, but concerns arose from their commentary about a cooling US leisure demand and a weak 4Q guidance. Accor anticipates full-year RevPAR growth of over 20%, with strong 3Q RevPAR growth in the Middle East, Africa, and Asia Pacific segments. Various hotel developments were announced, including a Marriott conversion in New Orleans, renovations in Indian Wells, a hotel sale in Boston, and plans for a new luxury brand in San Miguel de Allende, among others. -
Asia-Pacific
China YoY RevPAR Growth up 103% but Still Short of 2019
China experiences a significant year-over-year increase in hotel **RevPAR**, while **India** anticipates robust growth in the hotel industry, driven by domestic and international tourism. Sri Lanka aims to revive its economy by offering free tourist visas to visitors from seven countries, as it targets five million foreign arrivals by 2026. Major hotel chains like Marriott, Hilton, and Red Planet are expanding their presence in Asia, while Sarovar Hotels opens an upscale Golden Tulip in Bhopal, India. -
North America
Disney to Open Pixar-Themed Hotel
The DJIA rose 205 points while Nasdaq was up 122, the S&P 500 rose 31 points and the 10 year treasury yield was flat at 4.84%. Lodging stocks were higher. We did see another new low… -
North America
$133 Million Margaritaville Hotel Approved in Kentucky
HSBC initiates stock coverage in the leisure and travel sector, including Buy ratings for Hyatt, Marriott, Hilton, and Host Hotels, along with Hold ratings for Park Hotels, Choice Hotels, and Service Properties Trust. Several hotel projects and acquisitions are highlighted, including the opening of the Ritz-Carlton Hotel in Portland, a new property by Maverick Hotels and Restaurants in Rockford, and North American Properties’ approval for a Margaritaville hotel in Newport, Kentucky. Notable developments and changes in the international hotel industry, such as Adrian Messerli’s promotion at Four Seasons, Hilton’s plans to open Italy’s first LXR Hotels & Resorts property, and Riu Hotels and Resorts opening a new all-inclusive resort in Jamaica next year. -
North America
Hotel Rates Expected to Continue Rising Globally in 2024
CBRE U.S. Hotels State of the Union (October 2023) shows August RevPAR declined by -0.7%, with a -1.7% occupancy drop. Total revenue growth outpaced RevPAR growth in July by 2.5%. U.S. loan origination decreased, and hotel job openings continue to decline. Hotel rates are expected to rise globally in 2024, with potential increases of up to 17.5% in some cities, according to American Express Global Business Travel’s Hotel Monitor 2024. The Baird/STR Hotel Stock Index was down -2% in September. Year-to-date, the Hotel Brand sub-index increased by 23%, while the Hotel REIT sub-index decreased by -1.5%. -
Asia-Pacific
Oyo Reported to Get More Financial Backing
Macau’s Golden Week holiday saw a surge in visitors, with over 932,000 arrivals and high hotel occupancy rates, mainly driven by mainland Chinese tourists. Indonesia plans a significant expansion in its tourism sector, aiming to attract up to $8 billion in investments for specific destinations. Several new hotel properties by Accor and Hilton are announced in countries including Australia, Vietnam, Sri Lanka, and Malaysia. -
Asia-Pacific
Macau Casinos Experience High Demand as Golden Week Approaches
Macau hotels experience high demand during Golden Week, with standard rooms sold out for at least three nights at 22 casino-associated properties, some offering rooms at around US$400 per night. Samhi Hotels raises Rs 1,370 crore through an IPO, with plans to use the proceeds for debt repayment and corporate purposes, resulting in a 7% trading increase from the IPO price. Blue Chandra Pte Ltd. also sells 50% of its equity holdings in SAMHI. Marriott International opens a Four Points by Sheraton resort in the Philippines and rebrands Le Meridien Phuket Mai Khao Beach Resort in Thailand, while Hilton debuts the Hilton Maldives Amingiri Resort & Spa. Hyatt announces the construction of the Hyatt House South Melbourne in Australia for a 2025 opening. -
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
San Francisco Hotels May Defy the Pessimists in 2024
Truist reported on its visit to San Francisco for the Visit Impact Summit. The good news is that the fall 2023 events are showing improvement. Marriott International announced the completion of a recent redesign and renovation to the 146-room Courtyard by Marriott Denver Central Park in Denver, Colorado . Airbnb stock received a big lift with the announcement of its inclusion in the S&P 500 .