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Morgan Stanley changed price targets on its covered hotel companies . Hilton’s PT was lowered to $167 from $171, while Wyndham’s PT was upped to $90 from $87. Chatham Lodging Trust announced they repaid in full three mortgages with outstanding principal of $73.3 million and a weighted average interest rate of 8%. Four Seasons Resort and Residences Los Cabos at Costa Palmas will begin taking reservations for its ultra-luxury Private Retreats collection soon.

Wells Fargo changed price targets on a bunch of hotel names in their coverage. In November 2022, total non-US resident international visitor volume to the United States increased 61.3% compared to November 2021 According to the Q4 2022 Hotel Construction Pipeline Trend Report for Canada by Lodging Econometrics, Canada’s total construction pipeline stands at 267 projects/35,758 rooms.

Truist said they are finding the sentiment at the ALIS Lodging Conference as mostly positive , with lots of “hope” that the most well-anticipated recession in the history of recessions will be a mild one. STR and Tourism Economics made a modest upgrade to the 2023 U.S. hotel forecast released at ALIS. Four Seasons said they started 2023 with new leadership, brand extensions and strategic portfolio growth.

Jefferies gave their ALIS Conference preview saying they anticipate the lodging management teams will provide incremental color on the trajectory of lodging in a variety of economic scenarios. Marriott International, Inc. announced the company’s deal signings accelerated again in 2022 . The company signed a total of 726 management and franchise agreements. Wyndham Hotels & Resorts is setting its sights on a continued expansion in 2023 , following a banner year that saw the company cap multiple milestones and accomplishments across the globe.

Lodging stocks were higher led by AHT, up another 10%. ABNB and PLYA were both up 7% on the day while VCSA was up 6% and HST rose 5%. Truist gave their 2023 lodging preview , saying they see a mixed bag for demand/pricing/supply trends for the lodging companies. Similar to the past nine months, they see “macro over micro” at the moment. DiamondRock Hospitality said their preliminary 4Q22 comparable revenue grew 23.4% year over year and 8.5% compared to 2019.

The DJIA rose 133 points while Nasdaq was up 72, the S&P 500 was up 29 points and the 10 year treasury yield was down .08 to 3.71%. Canada’s hotel performance came in lower than the month prior but showed improved comparisons to 2019, according to STR ‘s November 2022 data. Kolter Urban is planning to build a Ritz-Carlton Hotel Residences in Sarasota Bay, Florida .

Yesterday, Pebblebrook Hotel Trust lowered guidance for 4Q results and shook up the industry a bit. Today, Ryman Hospitality did the opposite. Lodging stocks were mostly lower with a long list of new lows, many of them REITs. New lows were set by PEB, PK, AHT, SHO, XHR, ABNB and VCSA Marriott International announced that long-time executive Stephanie Linnartz is leaving the company, effective February 24, 2023.

Morgan Stanley cut their rating on Airbnb to Underweight from Equal Weight, slashing its target price to $80 from $100. Marriott International announced plans to introduce more than 35 luxury hotels in 2023 to its portfolio of luxury brands. STR reported US lodging data for the week ended 12/3. Hotel RevPAR was up 11.7% year over year while up 1.2% versus 2019.

For a change, the markets went up when Fed Chief Powell spoke. They interpreted his commentary and body language as blinking, that the bulk of the interest rate hikes are over. STR said  US hotel RevPAR  the week ended November 26 was  down -0.1% year over year . Cambria Hotels  announced the  opening of its six-story, 121-room location in downtown Minneapolis  to complete the newly constructed dual-hotel building.

DiamondRock Hospitality reported 3Q results, beating the preliminary results they announced two weeks ago. Jefferies cut its rating on Xenia Hotels & Resorts to Hold from Buy. Lodging stocks were mixed. SLNA plunged another -20%, quickly becoming the biggest disaster in a long line of SPAC disappointments in the past year