Hyatt House

North America

Selina Plunges on Second Trading Day

Pebblebrook Hotel Trust reported sold 3Q22 earnings, but since they give monthly updates and pre-announced, there was no surprise. While lodging stocks were higher, the action in Selina on Friday was just as ridiculous as on Thursday but in the other direction. While Travel + Leisure’s stock price rebounded a little bit after Thursday’s earnings-induced decline, Credit Suisse lowered the boom on them.
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

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.