-
North America
Selina’s Leaders Move to Soothe Worries
Selina Hospitality issued an update, emphasizing management’s confidence through executive stock conversions and alignment with shareholders, clarifying that insider stock sales were automatic transactions for tax purposes, not discretionary market sales. -
North America
Hilton Increases Canadian Portfolio
Hilton’s expansion in Canada includes nearly 20 deals signed in 2023, with plans to introduce Spark by Hilton and Motto by Hilton in 2024 – aiming to surpass 200 hotels. -
North America
Hotel Job Growth Slows Down
While U.S. unemployment remains below 4%, employment growth has been slowing and hotel job openings have also slowed. Wage growth outpaced inflation, but RevPAR contracted again in January. -
North America
Lodging Stocks Rise on U.S. Fed Statement
The Fed Chief made it pretty clear there will be no interest rates lowered for some time and the markets seemed to like the certainty. -
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
Hilton’s Home2 Suites Announces Newest Property
Home2 Suites by Hilton announced its newest property, Home2 Suites by Hilton Phoenix Downtown. -
North America
Four Seasons Hotel and Condos Coming to Telluride
STR reported US lodging data for the week ended December 30. RevPAR was down -9.7% led by a -7.1% decline in occupancy. Speculators are questioning whether everyone is thinking the Fed is going to cut interest rates more than they really will. Real estate developers Fort Partners and Merrimac Ventures are building a Four Seasons hotel and condo resort in Telluride, Colorado . -
North America
U.S. Average Daily Rates Continue Increase
The DJIA fell 285 points, Nasdaq was down 174, the S&P 500 fell 38 points, and the 10-year treasury yield was down nearly .10 to 3.91%. Let’s hope the first two trading days do not represent the rest of the year. STR’s global “bubble chart” update through December 16, 2023 showed 75% of markets with growth in RevPAR compared to 2019. Could there be a hotel building moratorium in one of the most popular areas of Southern Florida? -
North America
Hyatt Unveils Luxury Development Pipeline
Citigroup downgraded Sonder Holdings from Buy to Neutral, with a new price target set at $4.Choice Hotels criticized Wyndham Hotels & Resorts for misrepresenting the lodging industry’s competitive landscape. This criticism came after Wyndham’s recommendation for shareholders to reject CHH’s exchange offer and their discontinuation of discussions regarding a potential transaction with CHH. Hyatt announced plans to open over 35 luxury hotels and resorts globally through 2025, including new Park Hyatt locations in the UK, Mexico, and Malaysia, and expanding the Thompson Hotel brand in Europe. -
North America
JP Morgan Re-Ranks Many Hotel Stocks
JP Morgan upgraded Choice Hotels to Neutral and shifted Host Hotels, Park Hotels, Ryman Hospitality, and Sunstone Hotels to Neutral, citing less downside in lodging REITs. CoStar forecasts U.S. hotel demand growth of 1.8% in 2024, with occupancy increasing by 1% and room rate growth aligning with inflation, leading to RevPAR growth of 4.8% this year and 4% in 2024. Barclays shifted to Equal Weight on Marriott Vacations, expressing uncertainty in company-specific execution and favoring Hilton Grand Vacations in the timeshare sector.