Home2 Suites by Hilton

DJIA and Nasdaq dropped significantly, 10-year yield surged, and lodging stocks declined. U.S. hotel industry saw lower occupancy but improved year-over-year comparisons. Peachtree Group announced multiple hotel acquisitions and new development projects, while other hotels are under renovation and expansion.

Sonder Holdings announces a 1 for 20 reverse split to maintain its Nasdaq listing, with Selina also considering a reverse split. STR reports US hotel data with a slight increase in US hotel RevPAR but a decrease in Group RevPAR for the week ending 9/16. Various hotel acquisitions and developments are underway, including Omni Hotels & Resorts in Raleigh, Travel + Leisure Co.'s sports-themed resorts, Life House in Palm Springs, and more.

B of A Securities gives IHG Hotels & Resorts a Buy rating. Sonder announces a 1-for-20 reverse stock split. Hyatt plans to expand with over 30 new hotels in the Americas by 2025, emphasizing luxury, resort, and lifestyle rooms. Miraval Resorts unveils its spa after a $60 million renovation. Raffles Boston and The Fontainebleau Las Vegas announce their openings.

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.

DJIA gained 213 points, Nasdaq increased by 114 points, and S&P 500 rose 28 points; 10-year treasury yield decreased by 0.03 to 4.21%. Lodging stocks surged on Hersha Hospitality buyout news, particularly REITs: HT up 56%, BHR up 16%, AHT up 10%, others up 6% each, while AINC traded down -9%. Hersha Hospitality Trust and KSL Capital Partners will merge in an all-cash deal worth $1.4 billion, where common shareholders receive $10.00 per share and preferred shareholders receive varying amounts based on their holdings. The merger aims to close in Q4 2023, leading to a rally in hotel REIT stocks. Major US and Chinese hotel groups have strengthened post-pandemic, while Europe lags behind. Marriott, Jin Jiang, and Hilton lead the world hotel ranking, with only one European representative (Accor). US has six companies in top 10, China has three, and Spanish companies see shifts in their rankings.

Stock Market Performance: DJIA fell by 291 points, Nasdaq decreased by 158 points, and S&P 500 dropped by 34 points. The 10-year treasury yield increased to 4.31%. Lodging Industry Trends: Lodging stocks, including SLNA and BHR, traded lower. Truist held a conference call on US lodging supply growth, with Marriott having the largest pipeline, and Hyatt showing the largest year-over-year increase. Hotel Performance Forecasts: CBRE Hotels revised down its 2023 RevPAR forecast due to weak summer demand, expecting a 4.6% YoY growth in RevPAR. Hotel supply growth is projected to be 1%, below the industry's historical average of 1.6% over the next five years.

Canada 's construction pipeline has a total of 275 projects and 37,359 rooms, with Ontario and Toronto leading in projects and rooms. Jeff Vinik is selling his share in the company that developed Water Street in Tampa, Florida, to Cascade Investment Fund LLC . Q Group Hospitality is launching a new LGBTQ+ boutique hotel, Queen Las Vegas, in Las Vegas , Nevada, featuring themed rooms and a nightclub.

The DJIA rose 27 points while Nasdaq was up 71, the S&P 500 was down 12 points, and the 10-year treasury yield was up .08 to 4.03%. MAR was up about 1.45% at the close.

Market Summary: DJIA rose 82 points, Nasdaq fell 17, S&P 500 down 1 point, 10-year treasury yield down to 3.85%. Uncertainty remains about the Fed's rate hike decision. Certares Real Estate Hospitality Fund : Certares closes its first real estate fund with $284 million in equity commitments, investing in 10 U.S. hotels. Hilton and Travel + Leisure face mixed responses from investors. JD Power study highlights staff service as the highest contributor to guest satisfaction in hotels.

Financial Markets: DJIA up 184 points, Nasdaq up 26, S&P 500 rose 18 points, and 10-year treasury yield up to 3.86%. Lodging stocks performed poorly despite overall market gains. JP Morgan anticipates unimpressive 2Q23 RevPAR results and mixed net rooms growth in the lodging sector. They remain cautious due to tougher year-over-year comparisons and potential effects from tightening credit conditions. Several hotels are being developed or opened, including a 100-room hotel in Northeast Philadelphia, a Marriott Residence Inn in West Vail, and a Fairfield Inn & Suites in Conway, South Carolina. Some projects are facing challenges, like the halted construction of a Homewood Suites in Skokie, Illinois, due to high-interest rates.