St. Regis

STR reported China hotel RevPAR for the week ended December 3. RevPAR was down -2.6% on a year-over-year basis while down -40.2% against the same week in 2019. More reports are coming out about China’s decision to roll back Covid-Zero rules . The latest STR report, commissioned by Arabian Travel Market, conducted at the end of September 2022, suggests the GCC region now has over 170,000 hotel rooms under active development.

Morgan Stanley cut their rating on Airbnb to Underweight from Equal Weight, slashing its target price to $80 from $100. Marriott International announced plans to introduce more than 35 luxury hotels in 2023 to its portfolio of luxury brands. STR reported US lodging data for the week ended 12/3. Hotel RevPAR was up 11.7% year over year while up 1.2% versus 2019.

STR reported China hotel RevPAR for the week ended November 26 was up 2.2% year over year. Macau hotels’ had average occupancy in October of 41.8%, up 4.2 percentage points from September. Accor announced details on some of its newest properties across Australia and New Zealand that will be opening in 2023.

STR reported China hotel RevPAR for the week ended 11/12 was up 17.5% year over year. China’s Ministry of Culture and Tourism announced it would continue to suspend outbound tours by mainland travel agencies. In the recent China Construction Pipeline Trend Report from Lodging Econometrics , LE analysts report that China’s total hotel construction pipeline, at the close of Q3 2022, stands at 3,604 projects/684,288 rooms.

Looking at  India's  hotel sector , JLL  said contracts in  mid-market and budget brands  grew 74% between January and September 2022 as compared to the same period in 2019. Marriott International’s St. Regis Hotels and Resorts brand announced the opening of the St. Regis Goa Resort. Bengaluru-based real estate developer MS Ramaiah Developers and Builders  plans to invest about Rs 1,100 crore over two years across real estate sectors in Karnataka, Goa, and Andhra Pradesh .

Pebblebrook Hotel Trust reported sold 3Q22 earnings, but since they give monthly updates and pre-announced, there was no surprise. While lodging stocks were higher, the action in Selina on Friday was just as ridiculous as on Thursday but in the other direction. While Travel + Leisure’s stock price rebounded a little bit after Thursday’s earnings-induced decline, Credit Suisse lowered the boom on them.

The South China Morning Post painted a picture in Hong Kong of hotels slashing rates to fill rooms now that quarantine stays are gone. Accor announced the signing of a management agreement for a new dual-branded hotel in Thailand’s capital. A new $35 million hotel on Kaikoura’s waterfront has launched. The four-story, 120-room hotel in the New Zealand town has a restaurant and art gallery open to the public, located on the town’s esplanade.

In a very wild session with a 1500-point swing, the DJIA ended the day up 827 points while Nasdaq was up 249, the S&P 500 rose 98, the 10-year treasury yield was up .05 to 3.95% and lodging stocks were higher. In an excerpt from CoStar , the transition from the summer to fall travel seasons has been different than in the past years, according to some U.S. hoteliers, who are adjusting strategies for selling hotel rooms to meet the new demand. Hotel Equities announced the reopening of the Courtyard by Marriott in Mobile, AL.

The DJIA plunged 630 points on Friday while Nasdaq was down 421, the S&P 500fell 105 points and the 10 year treasury yield jumped .06 to 3.88%. Lodging stocks were lower. Data recently released by the National Travel and Tourism Office showed in August, international visitors spent more than $13.7 billion on travel to, and tourism-related activities within, the U.S. Jefferies lowered their price target on  Hersha Hospitality to $12 from $13 and  Sunstone Hotel Investors  to $11 from $12.

STR reported China lodging data for the week ended 9/24. Hotel RevPAR was up 5.1% year over year. When compared with the same week in 2019, RevPAR was down -21.5%. The St. Regis Jakarta is set to debut on November 10, 2022, within Jakarta, Indonesia’s Golden Triangle District. Club Med said their three Japan properties are ready to welcome back guests. That includes the brand new Club Med Kiroro Peak, opening in December 2022.