Radisson Collection

Truist gave their 1Q lodging earnings preview . While they continue to see macro over micro with the main driver/wildcard coming from the economic impact of high interest rates and inflation, at a minimum they expect results to be in-line but more likely ahead. The Kayak Miami Beach hotel could be seized in a $13.68 million foreclosure lawsuit. The ART Hotel Denver, Curio Collection by Hilton announced the completion of its $3 million property-wide refresh to its 165 rooms and suites, 7,500 square feet of flexible meeting and event spaces, fitness center, private dining and public spaces.

STR reported  China hotel RevPAR, the week ending April 8, was up 108.5% on a year-over-year basis. It was up against an easy -49.5% comparable in 2022. STR said Melbourne’s hotel occupancy was the highest for any month since February 2020 in March 2023. Marriott International CEO Anthony Capuano was interviewed at the HICSA Conference in Bengaluru, India this week. He said Marriott plans to expand to at least 10 new cities in the country in the next two years with over 100 properties .

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.

UNWTO’s forward-looking scenarios for 2023 suggests global international tourist arrivals could reach 80%-95% of pre-pandemic levels this year. Cambodia is expecting to receive up to four million international tourists this year, accelerated by China announcing its reopening policy. 2022 brought some 2.28 million international tourists to Cambodia with China making up only 106,000 of them. The Macau Hotel Association warned that local hotels may need to cap their maximum guest capacity at 70% to 89% during the Lunar New Year holiday period due to a shortage of staff in operations.

Lodging stocks were mostly lower. VCSA was down -12%, SOND was down -8% but MCG was up 5% on a new Buy rating. Northland Capital Markets initiated coverage on Selina Hospitality Group with an Outperform rating and $4.50 target price. The scheduled auction of the downtown Hilton Hotel Minneapolis , previously slated for Friday, has been postponed.