Rosewood Hotels & Resorts

U.S. hotel industry saw positive growth in RevPAR and rates for the week ending September 30, with Group RevPAR showing significant improvement. Rosewood Hotels & Resorts is expanding its branded residence portfolio especially in Europe. Various hotel projects and developments are underway in different locations, including downtown Springfield, Norfolk, San Antonio, Beaufort, and Las Vegas, with a range of amenities and timelines.

Singapore Formula 1 Grand Prix expects lower attendance in 2023 but higher receipts compared to pre-Covid levels, with foreign attendees driving up hotel room rates. Rosewood Hotels & Resorts is expanding into New Zealand, adding three properties to its portfolio in the Oceania region. Mana Hotels expands beyond Rajasthan with a new homestay in Rishikesh, while IHG Hotels & Resorts plans to add more hotels to its Indian portfolio, with a focus on Holiday Inn and Holiday Inn Express brands.

Major stock indexes and several lodging stocks experienced declines. Service Properties Trust signaled a shift away from hotel acquisitions after buying the Nautilus Hotel in Miami. New hotels opened in Cincinnati , Yuba City , Orange , TX, and Pennsylvania . Notable construction and restoration projects are underway in Houston, Hastings, and Longmont. Several properties announced upcoming renovations or management changes. RobertDouglas managed a $60 million sale of three properties; Cronheim Hotel Capital refinanced Hotel Phillips in Kansas City. Key personnel changes occurred at Valor Hospitality Partners and the Rosewood Hotel Group .

Xenia Hotels & Resorts reported an in-line to a modest miss result and narrowed guidance. They repurchased common stock in the quarter. Chatham Lodging Trust had a 5% increase in RevPAR year over year and a 5% AFFO rise, with RevPAR down less than -2% from 2019. Several hotels announced new openings, acquisitions, and rebranding, including Omni Hotels & Resorts , Sonesta , Braintree Group , Elise Capital , Hyatt Hotels Corporation , and DiamondRock Hospitality Company .

Stock market decline: DJIA and Nasdaq both down, S&P 500 fell, causing investor anxiety due to rising interest rates. Hotel acquisitions and auctions: Apple Hospitality acquires Courtyard by Marriott in Cleveland, Sheraton Bucks County Langhorne hotel up for auction, Holiday Inn in Charleston to become Live Oak in Marriott's Tribute Portfolio. Hotel developments: Hampton Inn & Suites in Manistee near completion, Resorts World Las Vegas opens private members' club, Virgin Hotel in Dallas changes ownership, Kona Village in Hawaii opens as a Rosewood Resort.

China hotel industry shows strong recovery with a 59.8% increase in RevPAR compared to last year. Ascott Ltd. plans to expand its properties in Malaysia and diversify into the hotel business. Raimon Land Plc announces three luxury projects in Phuket and Bangkok, targeting the luxury segment.

Market surge: DJIA and Nasdaq experience significant gains, with the DJIA surging 701 points and the stronger-than-expected jobs report contributing to the rise. Airbnb lawsuit: Airbnb files a lawsuit against New York City over a new law that the company claims will limit short-term rentals and make it more difficult for hosts to do business. Hotel openings and acquisitions: Several hotel brands announce new openings and acquisitions, including WoodSpring Suites, Sonesta, and Margaritaville, expanding their presence in different cities and states.

STR  reported China hotel RevPAR was up 99% year over year for the week ended May 13 . According to Lodging Econometrics’ latest China Construction Pipeline Trend Report , China’s total hotel construction pipeline stand sat at 3,659 projects/680,959 rooms at the end of Q1 2023. Macau visitor arrivals rose 16.2% in April from March, up 275% year over year, to 2,274,050.

The Ministry of Culture and Tourism in China said domestic travelers reached 274 million during the recent Labour Day Golden Week holiday, topping 120% of pre-Covid levels . Hyatt Regency Danang Resort & Spa is set to introduce a new era of exciting hospitality to Vietnam’s central coast. Rosewood Hotels & Resorts has been appointed by Eleven D&C Co., Ltd. to manage Rosewood Seoul , a new build ultra-luxury hotel set to open in 2027.

Golden Week started off with a bang in the SAR with Hong Kong reporting 165,000 people crossed the border into the city on the first day while more than 110,000 tourists from the Mainland left Hong Kong. In June,  SJM  will open the 271-room  Karl Lagerfeld Hotel  on  Cotai  in  Macau . The project was initially unveiled in 2014 but was delayed for various reasons including the pandemic. The Rosewood Ranfaru  in the  Maldives  is expected to open in 2027, stretched across a striking chain of private islands around a pristine lagoon in the South Male Atoll