Radisson Hotel Group

Chinese authorities signaled a move to ease international travel requirements, just a couple of days after President Xi reiterated his Zero-Covid policy. Four Seasons Hotels and Resorts and Sun Hung Kai Properties announced plans for a new Four Seasons hotel in historic Suzhou, China . Marriott International’s Ritz-Carlton brand announced the Ritz-Carlton, Melbourne will open its doors in the first quarter of 2023.

Accor said they signed an agreement with Panthers Group for a new five-star Pullman hotel at the Penrith Panthers precinct in Western Sydney . InterContinental Khao Yai is a new resort in Thailand , located in Nakhon Ratchasima province in Khao Yai National Park . IHG , in cooperation with Bao Quan Investment & Construction Joint Stock Company , will open its first Crowne Plaza hotel in Vinh Yen City in the northern province of Vinh Phuc this November.

Lodging stocks were mixed. AINC was up 5% while the biggest mover was to the downside with VCSA falling -14%. Morgan Stanley lowered their price target on Airbnb to $105 from $125. MS maintained their Equal Weight rating. Xenia Hotels & Resorts sold the 115-room Celebration Hotel to Vision Hospitality Group .

The South China Morning Post painted a picture in Hong Kong of hotels slashing rates to fill rooms now that quarantine stays are gone. Accor announced the signing of a management agreement for a new dual-branded hotel in Thailand’s capital. A new $35 million hotel on Kaikoura’s waterfront has launched. The four-story, 120-room hotel in the New Zealand town has a restaurant and art gallery open to the public, located on the town’s esplanade.

The DJIA was up 338 points while Nasdaq was up 97, the S&P 500 was up 42 points, while the 10-year treasury yield was down nearly .02 to 4.00%. Evercore ISI Group upped its rating on DiamondRock Hospitality to Outperform from In-Line. US Travel’s latest Business Travel Tracker finds American companies increasingly paring back pandemic-era restrictions on business travel

The commentary from President Xi at the National Congress in Beijing certainly did not sound like the Zero-Covid policy that has hampered tourism and business travel in and outside of China is going to change anytime soon. Anantara Chiang Mai Resort recently hosted an event to celebrate the renovations at the property. Chatrium Hospitality is set to unveil Chatrium Grand Bangkok on November 28, 2022. The hotel is located in the city’s Siam area and is an enhanced version of Chatrium’s luxury collection.

Equity investors were once again willing to give the Federal Reserve Board the benefit of the doubt on the 0.75% rate hike today but then Fed Chief Powell held a press conference and it got ugly pretty quickly. STR reported US lodging data for the week ended 9/17. US hotel RevPAR was up 30.6% year over year. RevPAR was up 12.7% versus the same week in 2019. A group of hotel franchisees has filed a lawsuit against IHG Hotels and Resorts , claiming a cyber attack on its booking system earlier this month cost them millions of dollars in lost revenue, according to various news sources.

The DJIA  rose 197 points, Nasdaq was up 87, the S&P 500 rose 27 points and the 10-year treasury yield was up .04 to 3.49%. Hersha Hospitality is the latest lodging REIT to announce they have reinstated their quarterly cash dividend on the common shares. According to CBRE , Canadian hotels will return to pre-pandemic revenues next year, two years ahead of its previous forecast.

Bloomberg reported that hotel rooms in Singapore are now the most expensive in almost a decade. Radisson Hotel Group said they are aiming to accelerate growth across Thailand. The Tongsai Bay, the first five-star luxury hotel to be built on Koh Samui, has embarked on an innovative refurbishment and development program to celebrate its 35th anniversary as a luxury eco-haven.

STR reported China hotel RevPAR was up 48.2% year over year against very easy comps. When compared with this week in 2019, RevPAR was down -20.4%. Absolute occupancy in China last week was 59.1% versus 43.1% in the same week last year. Chengdu reported 1,000 Covid cases and the Southwestern city in China has pretty much been sealed off. About 70% of the flights have been suspended to and from the city. Hong Kong is targeting an end to hotel quarantine in November , ahead of a summit of global bankers and an international rugby competition.