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North America
Host Hotels’ Sparkling Balance Sheet
The earnings calendar accelerated in both the REIT and C-Corp section in the past 24 hours. Hyatt received the most attention with a clean beat but then some concerns creeping in. Host Hotels had a lousy two days to issue a great report with a clean and positive beat and raise. Summit Hotels came in just under consensus even with a strong top-line performance as higher hotel-level expenses hurt results. -
North America
Apple Hospitality and Xenia Hotels Beat Expectations
Apple Hospitality and Xenia Hotels were the next up to report earnings. APLE beat expectations and continues to be one of the few hotel REITs reporting EBITDA above 2019 levels. XHR also beat expectations on a higher top line with RevPAR growth of 23.9%. STR reported US lodging data for the week ended April 29. Year over year hotel RevPAR was up 5.6%. -
North America
Hilton’s Plans to Double Its Portfolio in Puerto Rico
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. -
North America
U.S. Interest Rate Increase Pushes Lodging Stocks Lower
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. -
North America
Raines Buys HP Hotels, Hilton to Expand in France
Raines announced they acquired HP Hotels , a full-service, third party hotel management company. Raines said this will result in operational expansion throughout the Southeast and Southwestern U.S. The Courtyard by Marriott Long Beach Downtown announced the addition of two Topgolf Swing Suites at their 216-room hotel. Borgata Hotel Casino & Spa , in Atlantic City, New Jersey , is embarking on a $55 million redesign and rebranding of The Water Club, in time for the resort’s twentieth anniversary. -
North America
Biden’s New Budget Triggers Equity Market Drops
Baird lowered their price target on Wyndham Hotels & Resorts to $86 from $88 while maintaining their Outperform rating. Barclays cut their rating on Hyatt Hotels to Equal Weight from Overweight. They cut their price target to $125 from $130. They upped Hilton to an Overweight rating from Equal Weight. Travel + Leisure Co . announced their upped their quarterly dividend per share to $0.45 per share from $0.40. -
North America
Airbnb Has Its First Profitable Year
Airbnb definitely got a better response from investors on their 4Q earnings report than traditional lodging analysts. Choice Hotels continued the parade with 4Q revenue and EBITDA comfortably above estimates with the Radisson acquisition helping with that. STR reported U.S. lodging data for the week ended 2/11. RevPAR was up 18.9% year over year. -
North America
Morgan Stanley Sees Airbnb’s Property Supply Slowing
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. -
North America
Marriott Vacations Announces Increased Quarterly Dividend
Marriott Vacations Worldwide Corporation announced an increase in its quarterly dividend. MCR has acquired the Staybridge Suites Chattanooga Downtown , a five-story, extended-stay hotel in Chattanooga, Tennessee. The DJIA rose 35 points Friday while Nasdaq was down 21, the S&P 500 was down 5 points and the 10-year treasury yield was down .02 to 3.51%. -
North America
IHG and Iberostar Enter Long-Term Commercial Agreement
We may be seeing a short week slowdown already starting in the financial markets. Lodging stocks were modestly lower. Deutsche Bank ‘s Gaming, Lodging, Leisure & Restaurant Conference ‘soverarching chorus was stability in trends and company outlooks. Pebblebrook Hotel Trust , in their monthly update, referenced that the end of October brought a return of seasonality.