TRIBE

Marriott International will be adding about 13-14 hotels in India under different brands in the next 12 months. Hong Kong has continued to loosen Covid restrictions , now targeting eventgoers. Hilton announced the signing of an agreement with Wondergrain Exports Private Limited to launch DoubleTree by Hilton Amritsar .

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.

The  DJIA  dropped 1.54%,  Nasdaq  fell 2.84%, the  S&P 500  declined 2.11% and the  10-year treasury yield  rose slightly, to 3.76%. After an outstanding summer of travel,  Amadeus’  Agency360 and Demand360 data sources are showing  strong recovery indicators for the remainder of 2022  and evidence of growing traveler confidence as the sector looks towards 2023. Service Properties Trust  announced it entered into a purchase and sale agreement to sell  16 Marriott branded hotels  totaling 2,155 keys for $137.3 million.

Ennismore announced the signing of TRIBE Bangkok Sukhumvit 39. Thai property developer Boutique Corporation has partnered with Oakwood and launched Oakwood Studios Sukhumvit Bangkok. InterContinental Hayman Island Resorts announced the opening of a new extension – 12 new free-standing Beachfront Pavilions.

The DJIA fell 154 points but Nasdaq was flat while the S&P 500 fell 9 points and the 10-year Treasury yield was up .02 to 3.05%. Citigroup upped its price target on Sunstone Hotels to $12 from $10.50. Morgan Stanley upped its price target on Airbnb to $125 from $100.

The average occupancy rate of Macau’s hotels and guesthouses fell by -6.3 percentage points year over year in June to a very weak 39.1%. Ascott Residence Trust is proposing to acquire nine quality serviced residences, rental housing and student accommodation properties across five countries from its sponsor, The Ascott Limited. Accor , Ennismore , and Funyard shared the early progress of their recently announced strategic partnership to develop the international lifestyle brand, JO&JOE, across China.

China has locked down part of Tibet’s capital following reports of a Covid-19 outbreak that grew from four to 22 cases on Monday. Radisson Hotel Group announced the signing of Radisson Biratnagar in Nepal, in partnership with The Centurion Hotel Private Limited. Ennismore announced its continued expansion across New Zealand and Australia with the signing of four new hotels in New Zealand with CP Group.

The equity indexes have really calmed down while treasuries get really volatile. Lodging stocks were higher. AINC was the big mover, up 11%. SMBC Nikko cut its rating on Park Hotels & Resorts to Neutral from Outperform. Its price target is $16. The CBRE Hotels Research State of the Union showcases current demand trends, as well as fundamentals by segment, location type and chain scale.