Sonder Holdings Inc.

STR reported U.S. hotel data for the week ended November 9. U.S. hotel RevPAR fell -3.5%, with occupancy down -3.5%.

Park Hotels reinstated 2024 earnings guidance noting labor strikes and hurricanes disrupting operations, and announced a 4Q dividend of $0.60-$0.66 per share, yielding about 9.6%.

Global hotel investments are booming, with a 13% RevPAR increase, high cross-border deals, and $42.1B in transactions, driven by strong demand for luxury and select-service hotels.

U.S. hotel revenue per available room rose 9.3% year-over-year for the week ending October 26, with New Orleans leading top markets at a 77.6% RevPAR increase – thanks in part to a Taylor Swift performance.

PMG and Hilton are developing the Waldorf Astoria Residences in Denver Cherry Creek, introducing the luxury brand to Colorado with 37 high-end residences and exclusive amenities managed by Hilton.

The U.S. hotel industry is experiencing steady growth, with construction volumes rising for seven consecutive months, especially in upscale and luxury segments.

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.

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.

Baird predicts short-term negative impacts on hotel revenues from recent hurricanes but expects a boost in the intermediate term due to FEMA, insurance, and clean-up crew spending, especially benefiting select service and extended-stay hotels

Marriott International is expanding its City Express by Marriott brand into the U.S. and Canada, entering the affordable midscale segment.