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Asia-Pacific
Europe Will Supersede APAC as Leading Travel Region
A new report from international travel industry analysts, the Centre for Aviation , predicts the Asia Pacific region will no longer be the world’s largest travel region by the end of 2022. Hyatt Hotels announced the opening of the Fuji Speedway Hotel in Shizuoka, Japan , the first property within The Unbound Collection by Hyatt brand in Japan. Business Line reported Accor plans to divest its stake in Indian ventures , opting to go asset-light through management contract deals. -
North America
International Tourist Arrivals Triple YoY
The DJIA fell 347 points while Nasdaq was down 75, the S&P 500 fell 39 points and the 10-year treasury yield was up .07 to 3.83% STR said US hotel RevPAR the week ending 10/1 was up 22.6% year over year , helped by Hurricane Ian and the holiday shift. According to the latest UNWTO World Tourism Barometer , international tourist arrivals almost tripled from January to July 2022 (+172%) compared to the same period in 2021 -
Asia-Pacific
Cambodia Says It Will Hit Pre-Pandemic Levels in 2026
The number of international tourists to Cambodia is expected to reach the pre-Covid-19 pandemic level in 2026. Indian Hotels and other hospitality firms in India have said they are eyeing price rate hikes. IHCL recently went back on that, saying the price hikes will have to wait until November. Hyatt Hotels Corp announced the opening of Hyatt Centric Sector 17 Chandigarh, marking the debut of the Hyatt Centric brand there. -
North America
RevPAR Up 30% YoY and 13% Vs. 2019
The markets brightened their mood somewhat on Wednesday. The DJIA rose 1.89%, Nasdaq was up 2.05%, the S&P 500 climbed 1.96% and the 10-year treasury yield had its steepest one-day drop since March 2009. STR reported US lodging data for the week ended 9/24. Hotel RevPAR was up 30.3% year over year while up 13.7% when compared with the same week in 2019. Dajia Insurance Group Co has put three hotels in the US up for sale, hoping to generate US$1.3 billion to take advantage of an expected surge in leisure travel and resort business. -
North America
Business Travel Shows No Sign of a Recession
The DJIA fell another 0.6% on Tuesday, Nasdaq was down 0.1%, the S&P 500 fell 0.5% and the 10-year treasury yield rose to 3.963%, its peak since 2010. Truist reported on a conference call it held with corporate travel data company Tripbam . Takeaways included that any indications of a recession have not yet shown up in business travel bookings and pricing data . Evercore ISI Group upped its rating on Hyatt to Outperform from In Line. Their price target is $100. -
North America
Peachtree Hospitality Adding 1,500 Rooms to Portfolio
The DJIA fell another 325 points on Monday, Nasdaq was up 0.1%, the S&P 500 fell 0.6% and the 10-year treasury yield rose to 3.88%. Peachtree Hospitality Development is on track to deliver a record year of development achievements. In 2022, PHD opened three select-service hotels, with another hotel slated to open later this year. Embassy Suites by Hilton Washington D.C. Convention Center announced the completion of its $30 million renovation that includes a complete transformation to the hotel featuring a fresh, modern redesign. -
North America
Multiple Lodging Stocks Hit New Lows
The 10-year treasury yield was up .20 today to 3.71%. Do we need to tell you what happened to stocks? The DJIA was down 107, Nasdaq was down 153, the S&P 500 was down 32. Truist reported on meetings they held with the management of Wyndham Hotels . Demand trends remain favorable and while management is closely monitoring bookings, length of stay, cancellation rates and such, they see no immediate cause for concern. As recent demand for hotel rooms breaks records and prices skyrocket, hotel investors are taking notice as 80% of them plan on buying throughout the remainder of 2022 and into 2023 . -
Asia-Pacific
Trip.com Says China Summer Bookings 20% Higher Than 2019
STR reported China hotel RevPAR the week ended September 17 fell -11.5% year over year. When compared with the same week in 2019, China hotel RevPAR was down -40.1% Despite STR reporting week after week for the past several months that China hotel RevPAR has plunged again, Trip.com said hotel reservations in China surpassed pre-pandemic levels since late June . Hyatt Hotels Corporation announced the opening of Hyatt Place Bharuch . This is the second Hyatt Place hotel in Gujarat and the sixth Hyatt Place hotel in in India. -
North America
Early September RevPAR up 30% YoY
Equity investors were once again willing to give the Federal Reserve Board the benefit of the doubt on the 0.75% rate hike today but then Fed Chief Powell held a press conference and it got ugly pretty quickly. STR reported US lodging data for the week ended 9/17. US hotel RevPAR was up 30.6% year over year. RevPAR was up 12.7% versus the same week in 2019. A group of hotel franchisees has filed a lawsuit against IHG Hotels and Resorts , claiming a cyber attack on its booking system earlier this month cost them millions of dollars in lost revenue, according to various news sources. -
North America
Canadian Hotels Will Return to Pre-Pandemic Revenues in 2023
The DJIA rose 197 points, Nasdaq was up 87, the S&P 500 rose 27 points and the 10-year treasury yield was up .04 to 3.49%. Hersha Hospitality is the latest lodging REIT to announce they have reinstated their quarterly cash dividend on the common shares. According to CBRE , Canadian hotels will return to pre-pandemic revenues next year, two years ahead of its previous forecast.