St. Regis

Wharf Holdings is planning to open 25 Maqo hotels by 2025 and is discussing expansions in China, Japan, and Thailand. IHG is introducing a new Holiday Inn Resort in Maharashtra, India, for 2027 and announced significant growth of their Holiday Inn Express brand in Greater China. ONYX Hospitality Group is expanding its Shama serviced apartment brand with five new properties across Asia, including locations in China, Malaysia, and Thailand.

Choice Hotels made an offer to acquire Wyndham Hotels and Resorts, which was rejected. The situation may lead to a proxy fight. Marriott and MGM's partnership launch delayed to early 2024 due to a cyber attack on MGM and the complexity of the integration, which includes the creation of the MGM Collection with Marriott Bonvoy. Hyatt introduces the Wellbeing Collective, offering tailored wellbeing experiences at 30+ hotels globally, with plans to expand in 2024.

The GBTA Business Travel Outlook shows Asia Pacific is forecast for significant growth, with travel spending gaining 41% to US$567 billion this year. Trip.com said outbound travel order for the upcoming Golden Week increased nearly 20 times, and domestic travel increased more than four times over the Golden Week period last year. Accor announced their Novotel brand’s fiftieth hotel opening in Greater China with its newest destination, Novotel Xi’an Aden.

STR reported US RevPAR for the week ended May 13 was down -1.3% year over year, possibly impacted by Mother’s Day timing. CBRE is again raising its forecast for hotel performance this year . The company has revised its forecast for 2023 RevPAR to $97.89, up 6.0% YOY and an increase of $0.43 from its previous forecast. Hilton announced the opening of Canopy by Hilton San Francisco SoMA .

Hotels were reported to be full in parts of the Philippines during the Holy Week break. The Commerce Federation of Macau Central and Southern District said Macau received over 300,000 visitors during the four-day Easter holiday period . Fosun Tourism expects a sustained boom in Chinese tourism in the second and third quarters. Fosun is planning expansions in resort projects in China’s tier I and tier II cities.

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.

In an amazing recovery from over 700 points down, the DJIA ended the day down only 280 points while Nasdaq rallied to end up 6. Vacasa’s stock price plunged well into penny stock category, joining Sonder, before recovering somewhat, ending the day down -25%. Braemar Hotels & Resorts and Ashford Hospitality Trust both issued press releases, clarifying that their cash holdings are safe . STR reported US lodging data for the week ended 3/11. US hotel RevPAR was up 11.1% year over year.

Walt Disney World’s Star Wars hotel has seen demand cool so dramatically that the Florida theme park giant has been forced to reduce dates during the busy Halloween, Thanksgiving and Christmas seasons. Membership Collective Group reported strong 4Q results, a profitable quarter, today STR reported U.S. lodging data for the week ended March 4. Hotel RevPAR was up 12.1% year over year for the week.

Lodging stocks were mixed but the big movers were all to the downside. SLNA traded down another -7% to another all-time low. VCSA and MCG were both down -6%. Service Properties Trust kept its positive momentum going, reporting a 159% increase in normalized FFO in 4Q22. Xenia Hotels & Resorts reported 4Q results slightly ahead of expectations but gave a mixed 2023 outlook.

The Philippines Hotel Sales and Marketing Association said hotels in the country remain optimistic of the industry’s performance this year as the average occupancy has already surpassed pre-pandemic levels. Marriott International is planning 14 new luxury properties opening in the Asia Pacific region this year. IHG Hotels & Resorts announced the signing of voco Bangkok Surawong with Tawanna Property Company Limited, a real estate investor and developer in Thailand .