Staybridge Suites

North America

Blackwells Withdraws Offer to Purchase Braemar Hotels

Blackwells Capital attempted to buy Braemar Hotels & Resorts, failed, and is now trying to elect four directors to BHR’s board despite owning a minimal amount of shares, facing opposition and legal action from BHR.
North America

Host Hotels and Pebblebrook Report Earnings

The earnings season for hotel companies kicked into high gear with Host Hotels and Pebblebrook becoming the first REITs to show their hand.
North America

Las Vegas Hotels’ Super Bowl Bump

STR reported US lodging data for the week ended 2/10. US hotel RevPAR was up 3.9% with ADR up 7%. RevPAR in Las Vegas was up 140% year over year thanks to the Super Bowl.
Asia-Pacific

Sri Lanka Steals Tourism Share From Maldives

The tensions with the Maldives have Indian tourists diverting to other coastal tourist destinations and Sri Lanka is already reaping the benefits, surpassing Maldives in the number of tourists for the first time.
North America

Choice Hotels Disputes Wyndham’s Claims

Choice Hotels International issued an investor presentation that they said disputed the false and misleading antitrust claims made by Wyndham Hotels & Resorts in connection with CHH’s attempt to acquire WH.
Asia-Pacific

Aman to Debut the Janu Brand in Japan in March 

Four Seasons announces two new hotels: Four Seasons Hotel Shanghai, opening in 2027 with 160 rooms and suites, and Four Seasons Hotel Suzhou, now open with 119 rooms, suites, and 11 villas. Marriott International expands in Sydney and Bangkok with the Moxy brand. Moxy Sydney Pitt Street, opening in 2025, will have 314 rooms and the city’s highest rooftop bar. Moxy Bangkok Ratchaprasong, opening in 2024, starts its experience with a 9th-floor bar check-in. IHG Hotels & Resorts opens two new Holiday Inn resorts in Phuket, managed by Destination Group. Holiday Inn Resort Phuket Karon Beach and Holiday Inn Resort Phuket Surin Beach feature over 220 rooms each, with private balconies and extensive amenities.
North America

Wyndham’s Board Tells Shareholders to Reject Choice

Wyndham’s Board rejects Choice Hotels’ unsolicited offer to acquire WH, backed by the Asian American Hotels Owners Association’s opposition. Hilton to open its first Tapestry Collection hotel in Los Cabos in 2024, alongside another project in La Paz. Preferred Hotel Group aims to expand its Beyond Green brand in Mexico, targeting 75 sustainable hotels globally.
Asia-Pacific

Ian Schrager and Marriott Open Second Edition Hotel in Japan

The Tokyo Edition, Ginza, designed by Ian Schrager and Kengo Kuma, is now open with 86 guestrooms, including 10 suites. It follows Edition’s first Japan venture with the Tokyo Edition, Toranomon, and features large standard rooms and a blend of old and new architecture. IHG Hotels & Resorts and Accor announce multiple global openings for 2024, including luxury and premium hotels in various locations like France, Malaysia, Mexico, New Zealand, Thailand, and others.  Banyan Tree and China Vanke are dissolving their joint ventures, with Banyan Tree acquiring and selling stakes in different ventures for a combined 480 million yuan.
North America

IHG Accelerates Global Expansion

Choice Hotels International purchased more shares in Wyndham Hotels & Resorts in its unsolicited exchange offer to acquire the company. The Baird/STR Hotel Stock Index rose 9.3% in November, with the Hotel REIT sub-index up 7.6% year-to-date and the Hotel Brand sub-index up 30.6% year-over-year. BCD Travel forecasts a global decrease in airfares and a 6.8% increase in hotel rates in 2024.
North America

Global Deal Announcement Slowed in First 9 Months of 2023

U.S. hotel RevPAR rose by 4.9% for the week, with rates up by 4%. Group RevPAR also increased by 13.3%. Truist adjusted ratings and target prices: lowered ratings for some companies (e.g., Bluegreen Vacations), raised target price for Bluegreen Vacations, and decreased target prices for Hilton Grand Vacation, TNL, and VAC. A significant decline in deals across travel and tourism sectors globally during January-October 2023 compared to the same period in 2022, affecting various regions and deal types.