IHG Hotels & Resorts

Chinese authorities signaled a move to ease international travel requirements, just a couple of days after President Xi reiterated his Zero-Covid policy. Four Seasons Hotels and Resorts and Sun Hung Kai Properties announced plans for a new Four Seasons hotel in historic Suzhou, China . Marriott International’s Ritz-Carlton brand announced the Ritz-Carlton, Melbourne will open its doors in the first quarter of 2023.

Accor said they signed an agreement with Panthers Group for a new five-star Pullman hotel at the Penrith Panthers precinct in Western Sydney . InterContinental Khao Yai is a new resort in Thailand , located in Nakhon Ratchasima province in Khao Yai National Park . IHG , in cooperation with Bao Quan Investment & Construction Joint Stock Company , will open its first Crowne Plaza hotel in Vinh Yen City in the northern province of Vinh Phuc this November.

Lodging stocks were mixed. AINC was up 5% while the biggest mover was to the downside with VCSA falling -14%. Morgan Stanley lowered their price target on Airbnb to $105 from $125. MS maintained their Equal Weight rating. Xenia Hotels & Resorts sold the 115-room Celebration Hotel to Vision Hospitality Group .

The DJIA surged 749 points on Friday while Nasdaq was up 245, the S&P 500 rose 87 points and the 10 year treasury yield was down .01 to 4.21%. Lodging stocks were modestly higher. According to September 2022 data from STR , Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the third quarter. IHG Hotels & Resorts reported a good 3Q, with RevPAR up 28% year over year and up 2.7% from 3Q19. The problem is they also announced Paul Edgecliffe-Johnson is leaving his CFO position.

The DJIA fell 91 points, Nasdaq was down 53, the S&P 500 fell 25 points and the 10-year treasury yield rose another .10 to 4.23%. Truist believes the companies most likely to see the greatest degree of earnings outperformance this 3Q earnings season will be those with the highest exposure to the group segment. A new survey from the Hospitality Asset Managers Association painted a somewhat rosy picture for the industry.

The South China Morning Post painted a picture in Hong Kong of hotels slashing rates to fill rooms now that quarantine stays are gone. Accor announced the signing of a management agreement for a new dual-branded hotel in Thailand’s capital. A new $35 million hotel on Kaikoura’s waterfront has launched. The four-story, 120-room hotel in the New Zealand town has a restaurant and art gallery open to the public, located on the town’s esplanade.

The DJIA jumped 551 points today while Nasdaq was up 354, the S&P 500 was up 95 points and the 10-year treasury yield was up .01 at 4.02%. The Baird/STR Hotel Stock Index fell -9.1% in September. Despite continued strong RevPAR, both year over year and 2019 comps, the stock index has dropped -20.6% in the first 9 months of the year. Driftwood Capital broke ground on the Element by Westin , a new 130-key extended-stay hotel located on prime oceanfront property in Melbourne, FL .

The DJIA fell 400 points on Friday while Nasdaq was down 328, the S&P 500 fell 86 points and the 10- year treasury yield pierced the 4% ceiling and probably is not done yet. According to CoStar , boutique hotels are performing well in 2022 and all classes show recovery in ADR, surpassing 2019 peak levels and leading the U.S. hotel industry. Hilton and Dittmar Company announced the signing of Hilton at The Key, Arlington-Rosslyn , located just minutes from Washington D.C. in Arlington, VA.

In a very wild session with a 1500-point swing, the DJIA ended the day up 827 points while Nasdaq was up 249, the S&P 500 rose 98, the 10-year treasury yield was up .05 to 3.95% and lodging stocks were higher. In an excerpt from CoStar , the transition from the summer to fall travel seasons has been different than in the past years, according to some U.S. hoteliers, who are adjusting strategies for selling hotel rooms to meet the new demand. Hotel Equities announced the reopening of the Courtyard by Marriott in Mobile, AL.

STR  reported China hotel data for the week ending 10/8. China hotel RevPAR was down -16.5% year over year (Golden Week). When compared with the same week in 2019, RevPAR was down -12.7%. People’s Daily , considered the Communist Party’s way of getting the message out to the Chinese, said China should stick with its zero-Covid strategy . Hyatt Place Huangshan Train Station , the first Hyatt-branded hotel in Huangshan, is officially open.