Service Properties Trust

Sonesta International Hotels Corporation signed 30 new franchise agreements across seven of its brands in Q3 2024.

A report from last week's Lodging Conference points to a surge in hotel transactions due to maturing loans, growing construction, and renovation projects, despite labor challenges and softening RevPAR trends.

Business travel is set to surpass pre-pandemic levels in 2024, with global spending projected to reach $1.5 trillion, driven by strong growth in the U.S. and China.

Hoshino Resorts is set to open its first new-build hotel in the United States by 2028, bringing a 40-room luxury resort to the small town of Sharon Springs, New York, marking a significant expansion for the renowned Asian hotel operator.

Service Properties Trust is reducing its dividend, selling 114 hotels to repay debt and save on capital expenditures, and will continue owning 34% of Sonesta while selling other properties.

Hyatt Hotels is expanding its select service pipeline by 25% in the Americas, with significant global growth of its Caption by Hyatt and Hyatt Studios brands, while also upgrading its Hyatt House and Hyatt Place brands for better efficiency and guest experience.

Hotel rates in the top U.S. markets have risen significantly, with higher-end hotels raising prices the most, affecting travelers' choices on destinations and trip duration.

Wells Fargo adjusted ratings and price targets for several hotel stocks, upgrading some while cutting price targets for others.

Truist reported that Lodging Econometrics expects steady hotel supply growth rates through 2026, supporting Ryman Hospitality with minimal new competition in large convention hotels.

Choice Hotels missed earnings expectations and lowered RevPAR guidance, but maintained EBITDA guidance and continued significant stock buybacks.