Standard International

North America

The Earnings Parade Continues

The earnings parade continues with REITs dominating the past 24 hours. PebbleBrook Hotel Trust reported 4Q results that matched their pre-announcement but gave 1Q guidance that was softer than expected. Sunstone Hotel Investors results came in slightly ahead for 4Q with an extra $10 million insurance gain also put in there. Park Hotels reported strong results even with San Francisco continued weakness. PK said group revenue is back to 83% of pre-pandemic levels.
North America

Phoenix Hotels Project Second-Highest Revenue for a Super Bowl Weekend

According to STR , Phoenix’s hotel RevPAR is forecasted to reach $419 for February 10-12, which would be the second-highest level for a Super Bowl weekend . On Friday lodging stocks were lower. SOND was the biggest mover, down -8% while ABNB was down -5% on the day. White Lodging announced the renaming of its new Autograph Collection hotel in San Antonio, Texas , formerly known as The Otis Hotel .
North America

Sonesta to Reflag Two Properties to The James Brand

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.
Asia-Pacific

China Continues Outbound Tour Suspensions

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.
North America

Standard International Expands Its International Ambitions

Either investors did not like Membership Collective Group’s earnings report, their management changes or both but the stock got crushed today, down -19%. STR reported US lodging data for the week ended 11/12. US RevPAR was up 19.4%, year over year. The Development Review Committee for Pompano Beach, Florida , is considering the site plan for a 1.1-acre property for which MHG Hotels proposed a Homewood Suites by Hilton hotel.
North America

All Hotel Classes Are Showing ADR Recovery

The DJIA fell 400 points on Friday while Nasdaq was down 328, the S&P 500 fell 86 points and the 10- year treasury yield pierced the 4% ceiling and probably is not done yet. According to CoStar , boutique hotels are performing well in 2022 and all classes show recovery in ADR, surpassing 2019 peak levels and leading the U.S. hotel industry. Hilton and Dittmar Company announced the signing of Hilton at The Key, Arlington-Rosslyn , located just minutes from Washington D.C. in Arlington, VA.
Asia-Pacific

Standard International Seeks APAC Expansion

Dajia Insurance Group Co has put three hotels in the US up for sale, hoping to generate US$1.3 billion to take advantage of an expected surge in leisure travel and resort business. U.S. hotel operator Standard International is betting on Thailand’s post-pandemic tourism recovery. Bloomberg said Standard is hoping to power an expansion in Asia that will see it open properties in popular and less-explored destinations. The new $340 million dual-tower Docklands development in Melbourne, Australia will include a huge rooftop infinity pool, spanning 35 meters when it opens in 2026.