-
North America
Hyatt Plans 30+ Properties in the Americas
B of A Securities gives IHG Hotels & Resorts a Buy rating. Sonder announces a 1-for-20 reverse stock split. Hyatt plans to expand with over 30 new hotels in the Americas by 2025, emphasizing luxury, resort, and lifestyle rooms. Miraval Resorts unveils its spa after a $60 million renovation. Raffles Boston and The Fontainebleau Las Vegas announce their openings. -
North America
First Hospitality Buys 17 Hotels in Hostmark Deal
DJIA, Nasdaq, and S&P 500 all experienced declines while the 10-year treasury yield rose to 4.32%. Lodging stocks had mixed performance. Truist updated price targets for lodging/hotel group stocks, with several adjustments both up and down. Various hotels announced renovations, expansions, and new locations, including the Westin Denver Downtown, Hyatt’s growth plans, and the EV Evolution Venue Hotel in Tampa and Washington, DC. -
North America
Davidson, Dimension and HEI Lead in Satisfaction
The J.D. Power 2023 North America Third-Party Hotel Management Guest Satisfaction Benchmark reveals that hotel management companies’ investments in renovations, maintenance, and staffing have led to increased guest satisfaction in areas like guest rooms and staff service. The benchmark highlights that guest anticipation of needs is a crucial factor, with 82% of interactions meeting this goal. Many guests desire modern lobby designs, but only 13% of branded hotels fulfill this criterion. Additionally, there’s a demand for electric vehicle charging stations, with 19% of guests expressing interest. -
North America
JP Morgan Is a Bit More Enthused About Hyatt
Financial markets showed mixed performance with the DJIA, Nasdaq, and S&P 500 rising while the 10-year treasury yield also increased. JP Morgan expressed optimism about Hyatt’s future, anticipating growth in RevPAR and an asset-light business model. Various hotel-related developments were reported, including property sales, renovations, and new openings, with several companies expanding their portfolios. -
North America
Global Hotel Construction Sees Upscale Domination in Q2 ’23 With Hilton and Marriott Leading
Q2 ’23 saw 14,572 global hotel projects. Luxury and upscale chains dominate, led by Hilton, Marriott, and IHG. Urban hotels lag in post-pandemic recovery compared to resorts and suburban counterparts, with rate management playing a vital role. Notable new hotels, rebranding, and appointments are taking place, with Hilton, Riu Caribe, Choice Hotels, and Sonder making moves. London’s Broadwick Soho hotel is set to open with unique additions. -
North America
Certares Closes $284 Million Hospitality Fund
Market Summary: DJIA rose 82 points, Nasdaq fell 17, S&P 500 down 1 point, 10-year treasury yield down to 3.85%. Uncertainty remains about the Fed’s rate hike decision. Certares Real Estate Hospitality Fund : Certares closes its first real estate fund with $284 million in equity commitments, investing in 10 U.S. hotels. Hilton and Travel + Leisure face mixed responses from investors. JD Power study highlights staff service as the highest contributor to guest satisfaction in hotels. -
North America
Wyndham Signs 60 More Extended-Stay Hotels
Stock markets showed mixed results with DJIA up 27 points, Nasdaq up 86, and S&P 500 up 13, while 10-year treasury yield increased to 3.91%. Wyndham Rewards topped the list in the 2023-2024 Best Travel Rewards Programs, and Hilton is set to open Motto by Hilton in New York City Times Square. Pennbridge Lodging plans to construct two Marriott brands in downtown Boise, and Four Seasons Hotels announced a project in Jacksonville, Florida. -
North America
New MGM Collection with Marriott Bonvoy to Launch in Las Vegas
Airbnb hit a new 52-week high on the stock market, Soho House rose 9%, and Sonder was up 6%. Long-term licensing agreement for MGM Collection with Marriott Bonvoy, encompassing 17 MGM resorts, and loyalty marketing agreement with BetMGM. The City of London plans to convert empty offices into hotels to revitalize the area, attract tourists, and address the growing demand for serviced accommodations in London. -
North America
Wells Fargo Ups Price Targets on Lodging Stocks
Stock market performance: DJIA was up 86 points, Nasdaq up 158 points, and S&P 500 rose 33 points, while lodging stocks mostly declined. Wells Fargo raised target prices on lodging stocks, including RHP, APLE, HST , and DHR , maintaining their ratings. Various hotels underwent renovations, including Courtyard Louisville Airport and Chancellor’s House Hotel , while new hotels were announced, such as the Hampton Inn & Suites in Pittsburgh and Riversuites in Philadelphia. -
North America
Ashford REIT to Return 19 Hotels To Lenders
Financial markets experienced declines with the DJIA falling 187 points and the S&P 500 down 13 points, while Nasdaq dropped 18 points. However, lodging stocks showed mixed to higher performance despite the overall market decline. Ashford Hospitality Trust (AHT) expects to return 19 hotels to lenders in various cities, including Las Vegas and Atlanta, due to missed repayment deadlines on a $982 million mortgage pool. AHT faced negative equity in the properties and opted not to pay for an extension, potentially impacting the hotel industry’s debt situation. STR’s global “bubble chart” update revealed that 85% of markets saw growth in Revenue Per Available Room (RevPAR) compared to 2019. Occupancy rates played a significant role in driving RevPAR, with coastal countries along the Mediterranean Sea showing strong growth. However, Saudi Arabia experienced the largest decline in RevPAR at 51%.