JW Marriott Hotels & Resorts

Asian ultraluxury resort companies are expanding into Japan to cater to wealthy overseas travelers and take advantage of the weak yen, with Soneva Holdings planning to open resorts in Japan by 2027 and investing 100 billion yen in new properties. Foreign investment in Japanese hotels increased significantly in recent years, with 2022 seeing a sixfold increase compared to the previous year, and an expected total of 128.5 billion yen in investments in the first six months of the current year. International hotel brands like InterContinental, Wyndham, Marriott, Hyatt, and Accor are actively expanding their presence in various regions, including India, Vietnam, China, Thailand, and Australia, offering a diverse range of accommodations and amenities.

HVS Anarock  released their Hotels & Hospitality Overview for  India for the second quarter. The Macao Government Tourism Office said Macau received over 93,000 daily visitors in the first three days of August, up from an average of 89,000 daily visitor arrivals in July. The Tourism Authority of Thailand is turning its focus to the Middle East with the goal of attracting 400,000 visitors from the region this year

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.

Truist expects varied 2Q earnings for the hotel sector, with C-Corps' results depending on geography and customer mix. U.S. hotel industry performance in June 2023 showed improvements from the previous month but lower year-over-year changes. RLJ Lodging Trust 's Nashville property joins Hilton's Tapestry Collection after a comprehensive renovation, marking the company's third conversion in 2023.

The Ritz-Carlton hotels in Melbourne and Perth are being sold for approximately $500 million, attracting bids from wealthy Australians and offshore investors. Salter Brothers has purchased the Sofitel Adelaide Hotel for $154 million, marking a significant hotel transaction in Adelaide. The Interlude , an urban wellness retreat, has opened in Melbourne 's Pentridge prison, featuring unique design elements like an underground swimming pool.

Stock market indices showed positive movement, with the DJIA rising 317 points and the Nasdaq up 75 points, while lodging stocks mostly saw gains. IHG Hotels & Resorts clarified that it did not experience a demand reversal for leisure bookings, refuting an earlier misleading report. Choice Hotels issued a business update reaffirming full-year guidance, highlighting a drop in share repurchases and a higher-than-expected 2024 EBITDA projection, possibly indicating upcoming announcements or unique circumstances in the industry.

Stock market performance: DJIA, Nasdaq, and S&P 500 rose while the 10-year treasury yield was down. Lodging industry updates: Sonder Holdings downgraded, EF Hutton assumes coverage of Selina Hospitality, Ryman Hospitality Properties acquires JW Marriott San Antonio Hill Country Resort & Spa. New hotel developments: Chartwell Hospitality and Rockbridge developing three new hotels, Innisfree Hotels and RREAF Holdings open Fairfield Inn & Suites Pensacola Beach, Great Wolf Resorts opens Great Wolf Lodge Maryland.

Japan's hotel sector has seen a significant increase in overseas investment, reaching $691 million year-to-date. Construction and finance costs have led to the cancellation or delay of hotel projects in Australia, resulting in a reduction of almost 1,000 planned hotel rooms. Macau experienced a 270% year-on-year increase in visitor arrivals in May, with Mainland China being the largest source of visitors.

US stock indexes rose slightly on Friday, but lodging stocks were mixed with SOND surging 23% after a downgrade of Park Hotels & Resorts by ISI Evercore Group. Chicago broke hotel occupancy records last weekend thanks to Taylor Swift concerts and other events, generating more than $39 million in hotel revenue. Marriott International announced its first-ever all-inclusive resort in Cancun, expected to open in 2024, and JW Marriott Mexico City completed renovations of its guestrooms and suites, with more upgrades to come by 2023.

Hotel industry in China shows strong recovery with a 60.4% increase in RevPAR compared to the previous year, despite a slight decline of -5.5% compared to 2019. Prominent hotel openings and expansions include Hotel Morris Sydney in Australia, JW Marriott Auckland in New Zealand, Hotel101 projects in Metro Manila and Cebu-Mactan in the Philippines, and Mondrian brand's global expansion. Anantara unveils luxurious villas in Qasr Al Sarab Desert Resort in the UAE, while IHG Hotels & Resorts announces the first voco resort in Egypt's North Coast, and Six Senses Amaala prepares to launch a captivating resort in Saudi Arabia as part of the Vision 2030 program.