-
North America
U.S. Hotel Industry Reported Higher Performance in March
-
North America
Club Med to Shift Upmarket
Club Med said it was beginning a new chapter. Taking inspiration from the original Club Med philosophy, creating simple moments of happiness, the lifestyle brand will be providing a more premium, family-friendly and eco-conscious experience. Deutsche Bank initiated coverage on Wyndham Hotels & Resorts with a Buy rating and $79 price target. STR reported US lodging data for the week ended April 1. US hotel RevPAR was up 10.9% year over year. -
North America
Wells Fargo Cuts Lodging Stock Targets While Global RevPAR Grows
Wells Fargo has cut price targets on lodging stocks under coverage due to concerns over regional banks and their impact on the hotel industry. The bank only downgraded two names – Park Hotels and Xenia Hotels – but reduced price targets on many others, including Hilton, Marriott, and Hyatt. STR’s global “bubble chart” update shows growing momentum in the Asia Pacific region and more than half of markets globally with better than 20% growth in RevPAR versus 2019. Israel, Switzerland, Singapore, the Dominican Republic, and New Zealand led in RevPAR on an actual basis. HEI Hotels & Resorts has taken over management of the Marriott Jacksonville Downtown Hotel in Jacksonville, Florida, which will undergo a comprehensive renovation in the planning stages with completion anticipated in the first quarter of 2024. -
North America
Braemar and Ashford Forecast Strong Fourth Quarters
The DJIA rose 701 points on Friday while Nasdaq was up 264, the S&P 500 rose 87 points and the 10 year treasury yield was down .15 to 3.57% Braemar Hotels & Resorts Inc. expects to report occupancy of approximately 64% for the fourth quarter of 2022 with an ADR of approximately $469 resulting in RevPAR of approximately $301. Ashford Hospitality Trust, Inc. expects to report occupancy of approximately 68% for the fourth quarter of 2022 with an ADR of approximately $175 resulting in RevPAR of approximately $118. -
North America
Wyndham and Hilton Beat Earnings Expectations
Wyndham and Hilton kicked off the lodging earnings season, both with solid reports. It was an interesting day with the DJIA up 3 points but Nasdaq down 228. Don’t you love earnings season? Meanwhile, hotel RevPAR for the week ended 10/22 was up 27.8%, according to STR . -
North America
Early October U.S. Hotel RevPAR Up 13% Over Same Period 2019
The DJIA fell 28 points, Nasdaq was down 9, the S&P 500 fell 12 points and the 10-year treasury yield was down .04 to 3.90%. Braemar Hotels & Resorts Inc . reported the company expects to report occupancy of approximately 71% for the third quarter of 2022 with an ADR of approximately $403 resulting in RevPAR of approximately $288. Ashford Hospitality Trust, Inc . announced the company expects to report occupancy of approximately 71% for the third quarter of 2022 with an ADR of approximately $179 resulting in RevPAR of approximately $127.