North America
Pebblebrook Boosts EBITDA Outlook
Pebblebrook Hotel Trust increased their 2024 EBITDA and AFFO outlook despite reducing their RevPAR outlook, anticipating a stronger 2025.
Millennium
Asia-Pacific
Macau Labor Day Numbers Exceed Expectations
STR reported China hotel RevPAR for the week ended April 29 was up 138.2% year over year.
The Association of Macao Tourist Agents said the first Labor Day holiday after lifting all Covid curbs had exceeded expectations.
The General Statistics Office of Vietnam said the number of Chinese citizens traveling to Vietnam is on the rise with 112,000 visiting in April, up 61.5% year on year.
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.