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Despite the jitters and dire predictions we have been hearing for getting close to a year, lodging demand remains consistent with any concern of deterioration stemming from headline economic risk not yet manifesting in fundamentals. Baird reported on something we touched on recently, insider buying at lodging companies . A majority of the U.S. corporate travel buyers expect their company’s business travel to ramp up and return to pre-pandemic levels by the end of 2023

If you are wondering about who in the sector has exposure to the collapse of Silicon Valley Bank , Sonder Holdings confessed to having $2 million in an operating cash account and approximately $20 million in deposit accounts with SIVB. Marriott International, Inc. received approval from Mexico’s Federal Economic Competition Commission for the acquisition of the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V. According to a new report from HVS , hotel operators need to learn to manage the entire building they operate and start thinking of performance in terms of the total revenue or profit per available square meter.

Baird lowered their price target on Wyndham Hotels & Resorts to $86 from $88 while maintaining their Outperform rating. Barclays cut their rating on Hyatt Hotels to Equal Weight from Overweight. They cut their price target to $125 from $130. They upped Hilton to an Overweight rating from Equal Weight. Travel + Leisure Co . announced their upped their quarterly dividend per share to $0.45 per share from $0.40.

voco hotels celebrated 100 properties signed and opened globally. The emerging IHG Hotels & Resorts’ brand reached the milestone in just five years after its first-ever hotel opening. Island Hospitality Management announced the company added 14 hotels to its third-party management portfolio during 2022. Moxy Williamsburg debuted today as the brand’s first hotel in Brooklyn, New York.

Earnings rolled out at a rapid pace with  Hyatt, Wyndham, Host and Hersha reporting results. Hyatt reported above expectations and sounded very confident on the conference call. The lodging stock star of the day was definitely  Service Properties Trust . SVC owns nearly 8% of Travel Centers of America and RMR has 1.67%. Travel Center agreed to be bought by BP for $1.3 billion. CBRE is raising its forecast for hotel performance on the heels of industry gains in Q4 2022 and the expectation of slightly positive GDP growth in 2023.

According to STR , Phoenix’s hotel RevPAR is forecasted to reach $419 for February 10-12, which would be the second-highest level for a Super Bowl weekend . On Friday lodging stocks were lower. SOND was the biggest mover, down -8% while ABNB was down -5% on the day. White Lodging announced the renaming of its new Autograph Collection hotel in San Antonio, Texas , formerly known as The Otis Hotel .

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.