Sonesta International Hotels Corporation

Hilton announces plans to double its hotel portfolio in Puerto Rico by 2027, with the addition of seven new properties. The expansion will create around 2,100 new jobs and contribute to the island's economic recovery following the devastation caused by Hurricane Maria in 2017. Hilton's investment in Puerto Rico's tourism industry is a sign of the company's confidence in the island's potential as a destination for both leisure and business travelers.

STR gave U.S. lodging data for the week ended 3/18. US hotel RevPAR rose 10.4% year over year. When compared with the same week in 2019, US hotel RevPAR was up 20.8%. We can’t tell if the markets genuinely hate U.S. Fed Chief Jerome Powell or if the guy should just have a stand-in for his press conferences. Redburn Partners lowered its rating on InterContinental Hotels Group to Sell. UBS Group downgraded shares of Melia Hotels International from a Buy rating to a Sell rating.

Jefferies said the looming recession and stabilizing credit market could be positive for the prospects of timeshare, but with a harder landing not off the table, they see stocks trading at rich valuations. Truist said with earnings season about to kick into gear for the lodging sector, they continue to see macro over micro. Park Hotels and Resorts Inc. closed on the sale of the 508-room Hilton Miami Airport , located in Miami, Florida , for $118.25 million.

After 25 consecutive months of year-over-year declines, U.S. hotel construction increased slightly in December. Wells Fargo cut their price target on Airbnb to $130 from $165. They maintained their Overweight rating. STR said US hotel RevPAR the week ended 1/14 was up 33.1%. RevPAR was up 9.4% versus the same week in 2019.

Lodging stocks were mixed but the biggest movers were to the upside. VCSA and SLNA both rose 6% on the day. The Baird/STR Hotel Stock Index fell -10% in December. That put all of 2022 down -15% from 2021. The Hotel Brand sub-index was down -9.2% in December from November while the Hotel REIT sub-index was down -12.8% Sonesta International Hotels Corporation announced the expansion of its global development strategy to include The James brand as part of the Sonesta Franchise portfolio in the U.S. and in Latin America.

The DJIA fell 350 points, Nasdaq was down 154, the S&P 500 fell 45 points and the 10-year treasury yield was up .01 to 3.72%. Mizuho cut their price target on Airbnb to $110 from $125. They maintained their Neutral rating on the stock. STR reported US lodging data for the week ended 12/31. US hotel RevPAR was up 4.2% year over year while up 35.6% versus the same week in 2019.

The DJIA rose 133 points while Nasdaq was up 72, the S&P 500 was up 29 points and the 10 year treasury yield was down .08 to 3.71%. Canada’s hotel performance came in lower than the month prior but showed improved comparisons to 2019, according to STR ‘s November 2022 data. Kolter Urban is planning to build a Ritz-Carlton Hotel Residences in Sarasota Bay, Florida .

EF Hutton initiated coverage on Selina Hospitality with a Buy rating and $6.50 price target. STR reported US lodging data for the week ended 12/24. RevPAR was down -0.2% year over year while down -7.6% versus the same week in 2019. Bluegreen Vacation Holdings said they had a total of 3,040,882 shares of Class A Common Stock tendered in their cash tender offer to purchase up to 4.5 million common shares at $25 per share.

Truist gave their observations on the latest forward-looking booking and pricing trends for US hotels and checks with contacts. STR’s global “bubble chart” update through November 19, 2022 showed the strongest performance of the year thus far. The U.S. Travel Association’s latest biannual travel forecast shows a downgrade in international inbound travel for the remainder of this year and for 2023.

The DJIA rose 56 points while Nasdaq was up 162, the S&P 500 rose 35 points and the 10 year treasury yield fell .07 to 3.80%. Lodging stocks were modestly higher. Truist published a report on Vacation Ownership following 3Q results from the public companies involved in the segment. Genuine Hospitality announced the opening of Tru by Hilton Naperville Chicago , the first Tru by Hilton in Illinois.