-
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. -
North America
New York City’s Changing Supply Dynamics
Following a decade of historic growth, NYC hotel supply is expected to grow at an average annual rate of 1.6% over the next three years. -
Asia-Pacific
Vietnam’s Hotel Room Supply Is on the Rise
Savills Vietnam predicts a substantial increase in hotel real estate supply in Vietnam, focusing on Hanoi and Ho Chi Minh City, due to new projects from 2024 to 2026. -
North America
U.S. Hotels See Best Rates and Occupancy Since 2019
The DJIA ended Friday with a gain of 395 points, while NASDAQ was up 255, the S&P 500 rose 59 points and the 10-year treasury yield ticked up a little to 4.15%. Lodging stocks were mostly… -
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. -
Asia-Pacific
China to Drop Visa Requirement for Select Countries
China launches a pilot project allowing visa-free travel for visitors from several countries, with Malaysia reciprocating for Chinese and Indian visitors. IHG, Accor, SM Hotels, Hilton, and Artyzen Hospitality Group announce new properties and partnerships across Asia. The former Palazzo Versace in Australia is up for sale with a $100 million price tag. -
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. -
North America
Hyatt’s Heavy Canadian Expansion
Earnings reports from various hotel and hospitality companies have mixed results, with Marriott International and Hyatt facing disappointment, while Park Hotels, Chatham Lodging Trust, Host Hotels, RLJ Lodging Trust, and Summit Hotel Properties pleased investors. Hyatt Hotels plans to double its brand footprint in Canada with 23 new hotels by 2026, including airport locations and Hyatt Centric and Hyatt House properties. Various hotel acquisitions, openings, and renovations are announced, including the launch of Pendry Tampa and Pendry Residences Tampa, and the renovation of L’Ermitage Beverly Hills. Selina Hospitality faces financial challenges and seeks to restructure its debt. -
North America
Accor Forecasts Robust Revenue and Profit for 2023
PEB reported better-than-expected 3Q results, but concerns arose from their commentary about a cooling US leisure demand and a weak 4Q guidance. Accor anticipates full-year RevPAR growth of over 20%, with strong 3Q RevPAR growth in the Middle East, Africa, and Asia Pacific segments. Various hotel developments were announced, including a Marriott conversion in New Orleans, renovations in Indian Wells, a hotel sale in Boston, and plans for a new luxury brand in San Miguel de Allende, among others. -
Asia-Pacific
Marriott’s Northern Marianas Venture Marks Milestone Expansion
Marriott expands into CNMI with the first Marriott hotel in the Northern Marianas Islands in 2025, partnering with Honest Profit International Ltd for management. YOHO Treasure Island Resorts World Hotel in Macau announces its official opening after a four-month soft opening period, offering 600 rooms initially, and Melia Hotels International plans to open ME by Melia hotel in Guangzhou, Asia Pacific, in 2027. DigiPlus Interactive Corp backpedals on plans to develop land in Boracay, Philippines, after a public dispute with former partner Galaxy Entertainment Group.