Sheraton Hotels & Resorts

Ahead of Ryman Hospitality Properties’ Investor Day, Truist Securities upped their price target for the REIT.

Home2 Suites by Hilton announced its newest property, Home2 Suites by Hilton Phoenix Downtown.

CapitaLand Investment's the Ascott Limited, is adding eight new properties to its lyf brand portfolio. The additions mark Ascott’s expansion into various global city and resort destinations including Bali, Penang, and Sydney.

The Thai hotel industry anticipates a full recovery from the pandemic by late 2024, with Phuket remaining a top destination. Thai hotels had a 60% occupancy rate in 2023, a surge attributed to direct overseas flights and visa-free entry for several countries. Vietnam's tourism authority targets 17-18 million international visitors in 2024, with a revenue goal of 840 trillion VND. In 2023, Vietnam exceeded its 12.5 million visitor target and saw 108 million domestic trips, generating 678 trillion VND in revenue. Marriott International plans to open new Ritz-Carlton and Marriott Marquis hotels in Beijing by 2026, enhancing their presence in China. The Sheraton Colombo Hotel, Marriott's second in Sri Lanka, has opened, offering luxury amenities and strategic location.

U.S. hotel RevPAR rose by 4.9% for the week, with rates up by 4%. Group RevPAR also increased by 13.3%. Truist adjusted ratings and target prices: lowered ratings for some companies (e.g., Bluegreen Vacations), raised target price for Bluegreen Vacations, and decreased target prices for Hilton Grand Vacation, TNL, and VAC. A significant decline in deals across travel and tourism sectors globally during January-October 2023 compared to the same period in 2022, affecting various regions and deal types.

STR reported strong hotel performance in China, with an 88.7% year-over-year increase in RevPAR for the week ending October 28th. The region is showing signs of rapid post-pandemic recovery, reaching occupancy levels similar to Europe and America. Macau recorded over 22.72 million visitor arrivals, with a recent increase in daily arrivals, and the first 10 months of the year reaching 68% of 2019 levels. Various hotel-related developments and partnerships were announced by brands like IHG, Accor, and CapitaLand Ascott Trust across Asia, including new property openings, divestments, and expansions, highlighting continued growth in the region's hospitality industry.

Stock market performance: DJIA up 66 points, Nasdaq up 97, S&P 500 up 19 points, and 10-year treasury yield down to 4.60%. Lodging industry updates: US hotel RevPAR increased 5.2%, Group RevPAR was up 29.5%. Stifel lowered target price on Wyndham Hotels & Resorts, while Exane BNP Paribas downgraded IHG Hotels & Resorts. International travel data: International visitors spent $19.0 billion on US travel in August 2023, with a trade surplus of $1.8 billion. Travel and tourism accounted for 7.4% of US exports of goods and services in August 2023.

Macau's Golden Week holiday saw a surge in visitors, with over 932,000 arrivals and high hotel occupancy rates, mainly driven by mainland Chinese tourists. Indonesia plans a significant expansion in its tourism sector, aiming to attract up to $8 billion in investments for specific destinations. Several new hotel properties by Accor and Hilton are announced in countries including Australia, Vietnam, Sri Lanka, and Malaysia.

Stifel reduced Hyatt Hotels' target price to $115/share while maintaining a Hold rating. Pebblebrook Hotels warned of 3Q impacts due to storms in California and Florida, affecting same property RevPAR. U.S. Travel Association reports a federal government shutdown could cost the travel economy up to $140 million/day, causing negative consequences for air travel and travelers' plans.

Truist  reported on its visit to  San Francisco  for the Visit Impact Summit. The good news is that the fall 2023 events are showing improvement. Marriott International  announced the completion of a recent redesign and renovation to the 146-room  Courtyard by Marriott Denver Central Park  in Denver, Colorado . Airbnb  stock received a big lift with the announcement of its  inclusion in the S&P 500 .