RLJ Lodging Trust

North America

Global Hotel Pipeline Slows in Q3

The DJIA surged 749 points on Friday while Nasdaq was up 245, the S&P 500 rose 87 points and the 10 year treasury yield was down .01 to 4.21%. Lodging stocks were modestly higher. According to September 2022 data from STR , Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the third quarter. IHG Hotels & Resorts reported a good 3Q, with RevPAR up 28% year over year and up 2.7% from 3Q19. The problem is they also announced Paul Edgecliffe-Johnson is leaving his CFO position.
North America

Summer-to-Fall Lodging Habits Look Different in 2022

In a very wild session with a 1500-point swing, the DJIA ended the day up 827 points while Nasdaq was up 249, the S&P 500 rose 98, the 10-year treasury yield was up .05 to 3.95% and lodging stocks were higher. In an excerpt from CoStar , the transition from the summer to fall travel seasons has been different than in the past years, according to some U.S. hoteliers, who are adjusting strategies for selling hotel rooms to meet the new demand. Hotel Equities announced the reopening of the Courtyard by Marriott in Mobile, AL.
North America

Hurricane Ian’s Impact on Florida Hotels

The  DJIA  surged 765 points while  Nasdaq  was up 234, the  S&P 500  rose 90 points and the 10 year treasury yield was down .15 to 3.66%. Raymond James  reported on  hotels impacted by Hurricane Ian ’s decimation of southwest Florida. While Tampa Bay dodged the bullet, Sarasota all the way down took a hit led by Naples, Fort Myers, Sanibel, Captiva, Boca Grande, Venice and Punta Gorda. Aimbridge Hospitality  announces its  international division , Interstate Hotel & Resorts has launched its new corporate identity, formally debuting as the Aimbridge EMEA division.
North America

IHG’s Data Breach Concerns

The  DJIA  rose 230 points while  Nasdaq  was up 154, the  S&P 500  rose 43 points and the  10-year treasury yield  was up .04 to 3.36%. Lodging stocks were modestly higher. IHG’s hack appears to be a lot worse than the ones at other hotels as the ransomware attack may very well impact their 3Q results as they continue to have their online reservation system crippled by the attack. Watermark Lodging Trust  said the proposed acquisition of the company by private real estate funds managed by  Brookfield  was approved by its stockholders.
North America

Wells Fargo Changes Lodging Coverage

The  DJIA fell 184 points, Nasdaq was down 124, the S&P 500 was down 27 points and the 10-year treasury yield was up .08 to 3.11%. Wells Fargo made a few changes to their coverage of lodging names . They cut their ratings on Hersha Hospitality, DiamondRock Hospitality and Pebblebrook Hotel Trust to Equal Weight from the previous Overweight ratings Four Seasons Hotels and Resorts unveiled its new brand creative platform, Luxury Is Our Love Language , celebrating the brand’s unique and energetic perspective on the definition of luxury.
North America

Graduate Hotels Launches a Short-Term Rental Brand

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 .