Ritz-Carlton

DJIA, Nasdaq, and S&P 500 all experienced declines while the 10-year treasury yield rose to 4.32%. Lodging stocks had mixed performance. Truist updated price targets for lodging/hotel group stocks, with several adjustments both up and down. Various hotels announced renovations, expansions, and new locations, including the Westin Denver Downtown, Hyatt's growth plans, and the EV Evolution Venue Hotel in Tampa and Washington, DC.

Foreign investors like Goldman Sachs, KKR, and Blackstone have invested $2 billion in Japanese hotel deals this year, driven by a hotel business rebound and favorable exchange rates. Hilton plans substantial growth in Southeast Asia, introducing a new Hilton Garden Inn prototype and adding seven new hotels in Malaysia, including new brands like Curio Collection and Waldorf Astoria. Accor expands across Asia with 30 new hotels, focusing on markets like Japan, Vietnam, Indonesia, and India, while also partnering to introduce the Swissotel brand to Malaysia with Swissotel Genting Highlands.

Stock market indices, including DJIA, Nasdaq, and S&P 500, experienced declines on Friday, with the 10-year treasury yield also dropping notably. Some lodging companies reported mixed earnings, with Apple Hospitality , RLJ , and Sunstone Hotel Investors beating expectations, while DiamondRock Hospitality and Playa Hotels missed estimates. Several hotel chains, including Wyndham Hotels & Resorts and LuxUrban Hotels, Inc. , are making expansion deals, and various hotel properties are undergoing renovations and acquisitions in different locations.

China hotel industry shows strong rebound: RevPAR up 36.9%, surpassing pre-pandemic levels by 5.4%. Hong Kong hotels attract investors with discounts up to 30%, driven by cash-rich buyers seeking business district properties. Vietnam's tourism recovery gains momentum: July international arrivals tripled compared to last year, reaching 79% of 2019 levels.

DJIA and S&P 500 rose, Nasdaq was up, and the 10-year treasury yield decreased. Airbnb Co-founder Joe Gebbia sold over $1 billion worth of stock, while ABNB reached a 52-week high. U.S. hotel RevPAR increased, new hotel constructions and acquisitions were announced, and a hotel opening was delayed in Portland.

The Ritz-Carlton hotels in Melbourne and Perth are being sold for approximately $500 million, attracting bids from wealthy Australians and offshore investors. Salter Brothers has purchased the Sofitel Adelaide Hotel for $154 million, marking a significant hotel transaction in Adelaide. The Interlude , an urban wellness retreat, has opened in Melbourne 's Pentridge prison, featuring unique design elements like an underground swimming pool.

DJIA rose 210 points, Nasdaq up 25, S&P 500 up 11; 10-year treasury yield retreated to 4.01%. RW Baird supports Ashford Hospitality Trust 's decision to return hotels to lenders, citing improved cash flow prospects.

Radisson Hotel Group plans to open more premium and luxury hotels in Thailand , Cambodia , Laos , and Vietnam over the next five years, with a focus on popular tourist destinations such as Bangkok , Phuket , Chiang Mai , and Samui Island . Wyndham Hotels & Resorts aims to open over 15 hotels with 5,000 additional rooms in Thailand to catch up with the country's tourism industry recovery, but they don't expect a return to pre-pandemic levels until 2024. IHG Hotels & Resorts continues to expand its Hotel Indigo brand in Thailand , with plans to open the Hotel Indigo Bangkok Thonglor in 2026, offering 250 rooms, restaurants, a bar, swimming pool, gym, and meeting spaces.

Market Update: DJIA up 270 points, S&P 500 rose 23 points, Nasdaq remained flat, and 10-year treasury yield jumped to 3.85%. Lodging Industry News: STR reported a slight decline in hotel RevPAR , but a 12% increase compared to the same week in 2019. Hotel Renovations and Openings: StepStone Hospitality completed a $3.5 million renovation at Fairfield Orlando I-Drive Convention Center, and The Ritz-Carlton Naples reopens after extensive renovations with new amenities and redesigned rooms.

Stock market indices experienced a decline, with DJIA falling 102 points, Nasdaq down 165 points, and S&P 500 falling 23 points. The American Hotel & Lodging Association successfully lobbied for new PPP eligibility guidelines, allowing hotel owners who used third-party management companies to qualify for loan forgiveness. The U.S. hotel industry reported improved performance in May 2023 compared to the previous year, with increased occupancy, ADR, and RevPAR, particularly in the top 25 markets.