Pyramid Global Hospitality

Baird picked the hotel real-estate investment trust Xenia Hotels & Resorts as their Best Idea for 2023. The Wall Street Journal published a very positive article on Hilton , including an interview with CEO Chris Nassetta . Pyramid Global Hospitality closed the acquisition of the operating division of Provenance Hotels .

Airbnb saw its rating cut at Baird to Neutral from Outperform. Baird lowered their price target to $100 from $120. The U.S hotel industry reported higher performance from the month prior but weakened comparisons with 2019 , according to October 2022 data from STR . Through Q3 2022 , the U.S. hotel industry exceeded 2019 RevPAR levels by 6.4%, based on data from STR.

Bernstein  initiated coverage on  Airbnb  with an Outperform rating and $143 price target. B of A Securities  cut their rating on Membership Collective to Underperform from Buy. They lowered their price target to $4 from $12. Service Properties Trust  announced it amended the agreement governing its revolving credit facility and exercised its option to extend its maturity date to July 2023.

The vast majority of lodging company earnings, both REIT and C-Corp , have been very positive, with the REITs being the biggest surprise. Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel , to its Latitudes: Lifestyle by Crescent collection. Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta , from affiliates of Marriott Vacations Worldwide .