HRI Hospitality

What started out as a promising rebound day fizzled by the close with the DJIA up 15, Nasdaq down 20, the S&P 500 down 5 points and the 10-year treasury yield up .08 to 4.57%. Lodging…

Baird predicts short-term negative impacts on hotel revenues from recent hurricanes but expects a boost in the intermediate term due to FEMA, insurance, and clean-up crew spending, especially benefiting select service and extended-stay hotels

CBRE has lowered its U.S. hotel performance forecast for 2024 due to weakening leisure travel and corporate profits but still expects RevPAR growth driven by international tourism and election-related events.

Barclays updated their U.S. lodging REIT estimates ahead of the onslaught of expected conservative earnings that are coming.

The stock market being as ugly as NJ and NY weather this morning probably had a lot more to do with Marriott’s outsized decline than the actual earnings report.

Extended Stay America announced its growth outlook through franchising, following the momentum from a strong year of milestones, including 20% growth of its franchise portfolio across its family of brands.

CBRE forecasts 3.0% RevPAR growth in 2024, driven by improved international travel and economic factors. Lodging stocks were mixed today with SOND biggest mover, down -12%, SHCO and AHT both down -6%, VCSA fell -5%. Various hotel projects announced, including new developments in Las Vegas and North Carolina, renovations in Nashville and Pocono Mountains, and upcoming openings in Florida and Virginia.

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.

Lodging stocks were mostly lower on Friday. PLYA bucked the trend with an 8% gain on stronger-than-expected earnings. SOND was down another -8%, VCSA fell -7% and SLNA traded down to yet another new all-time low. Besides Playa Hotels’ strong results, Ryman Hospitality Properties took part in the winding down of earnings season with results that were better than their December update. HRI Hospitality announced the topping out of its new hotel project, Tempo by Hilton Nashville Downtown .