Ritz-Carlton

STR said China Hotel RevPAR , the week ending March 4, was up 67.2% year over year. The Bangkok Post reported that 112,876 room nights were reserved out of 560,000 available within six hours of the latest phase of Thailand's hotel subsidy program going live. Marriott International announced plans to introduce the Ritz-Carlton to Phuket, Thailand following the signing of an agreement with Asset World Corporation .

CNBC produced a segment on how hotel rates in Asia Pacific are surging . CBRE said Australian hotel sales hit $2.14 billion in 2022, the second highest transaction volume on record The Ritz-Carlton, Fukuoka will open its doors on June 21, 2023 on the island of Kyushu in southern Japan.

Truist lowered their price target on Park Hotels & Resorts to $19 from $20 while maintaining their Buy rating. BRE Hotels & Resorts and The Ritz-Carlton, Kapalua are celebrating the recent success of the property following a $100 million transformation. The iconic Fairmont Hotel in downtown Vancouver, Canada, is looking to expand with an annex tower, but it will not provide any additional hotel rooms.

RLJ Lodging Trust reported in-line results with some limited guidance they gave in January at ALIS. Summit Hotel Properties reported 4Q results ahead of estimates with strong earnings contributions from the recently acquired properties, including NewcrestImage. Argus Research upped their rating on Airbnb to Buy from Hold with a $144 price target.

The Philippines Hotel Sales and Marketing Association said hotels in the country remain optimistic of the industry’s performance this year as the average occupancy has already surpassed pre-pandemic levels. Marriott International is planning 14 new luxury properties opening in the Asia Pacific region this year. IHG Hotels & Resorts announced the signing of voco Bangkok Surawong with Tawanna Property Company Limited, a real estate investor and developer in Thailand .

STR said during the seven-day Lunar New Year holiday period, China’s hotel average daily rate surpassed 2019 levels . In the recently released China Construction Pipeline Trend Report from Lodging Econometrics , analysts report the country’s total hotel construction pipeline, at the close of the fourth quarter, stands at 3,581 projects/675,074 rooms. Morgan Stanley said Macau’s hotel occupancy and daily room rates are showing unprecedented strength in the post-Chinese New Year period with at least two hotels fully booked through February and many others close to capacity.

Marriott International announced it signed an agreement with China Central Place, Suzhou to bring the Ritz-Carlton and Marriott Executive Apartments brands to Suzhou. Following in the footsteps of Hong Kong, Macau said they may start paying people to come to visit. Macau’s latest ploy to attract new visitors is an incentive scheme for foreigners that would mimic the promotional arrangement afforded to mainlanders. TIAD is a luxury hotel currently under construction and scheduled to open July 1 in central Nagoya in Japan . They formed a partnership with Marriott International.

Lodging stocks were modestly higher. The biggest movers included ABNB and SOHO both rising 5% while SONDwas down -6% on the day. Hotel Asset Value Enhancement gave their findings of the ALIS conference.Attendees believe the frustrating transaction market will change in the second half of this year and that there will be more transactions than foreclosures this year. A class-action lawsuit filed Wednesday alleges that four of the main Las Vegas Strip resort operators colluded, via data-sharing software, to artificially inflate the prices of their hotel rooms.

Jefferies gave their ALIS Conference preview saying they anticipate the lodging management teams will provide incremental color on the trajectory of lodging in a variety of economic scenarios. Marriott International, Inc. announced the company’s deal signings accelerated again in 2022 . The company signed a total of 726 management and franchise agreements. Wyndham Hotels & Resorts is setting its sights on a continued expansion in 2023 , following a banner year that saw the company cap multiple milestones and accomplishments across the globe.

The DJIA  fell 392 points but Nasdaq was up 16, the S&P 500 rose 8 points and the 10-year treasury yield was up .02 to 3.54%. Lodging stocks were modestly higher with no major movers. Investment firm Sortis agreed to acquire Ace Group International for $85 million . The all-cash deal will give Sortis the boutique Ace Hotels brand and its hotel management company. International visitors spent more than $15.9 billion on travel to, and tourism-related activities within, the United States , an increase of nearly 57% compared to November 2021