Vacasa

Crescent Real Estate acquired the Element Orlando Universal Boulevard hotel, and the Delta Hotel in Wichita Falls, Texas, opened. Various hotel acquisitions and rebranding activities occurred, including the purchase of Hilton-branded hotels in New York, rebranding of properties as Trademark Collection by Wyndham, and the addition of Arlo Williamsburg to the Arlo Hotels portfolio. A $1.5 billion development plan for the Tennessee Titan's domed stadium area was announced, including a 40-story hotel, apartments, and retail spaces, with construction set to begin in 2025.

The J.D. Power 2023 North America Third-Party Hotel Management Guest Satisfaction Benchmark reveals that hotel management companies' investments in renovations, maintenance, and staffing have led to increased guest satisfaction in areas like guest rooms and staff service. The benchmark highlights that guest anticipation of needs is a crucial factor, with 82% of interactions meeting this goal. Many guests desire modern lobby designs, but only 13% of branded hotels fulfill this criterion. Additionally, there's a demand for electric vehicle charging stations, with 19% of guests expressing interest.

Deutsche Bank initiated coverage on Hilton Grand Vacations with a Buy rating and a $59 price target, citing compelling stock levels. Hyatt CEO Mark Hoplamazian observed a return to offices in big cities, indicating potential growth in business transient travel. Hilton plans to install up to 20,000 Tesla Universal Wall Connectors at 2,000 hotels in North America, creating the largest EV charging network in the hospitality industry.

DJIA, Nasdaq down; S&P 500 fell; 10-year treasury yield up. Hotel Trends: Global RevPAR growth; Canada's record ADR and RevPAR; mixed occupancy rates. Developments: Hotel expansions, renovations; Hyatt Vacation Club launch; new CEOs, brand in Croatia.

Pebblebrook Hotel Trust warns of 3Q impact from Tropical Storm Hillary. CoStar's July 2023 report shows mixed U.S. hotel performance. Global travel deal activity down -35.7%. Travel & Tourism investment grows 11.1% in 2022, below 2019 levels. WTTC forecasts 11.5% growth in 2023, warns of challenges from interest rate hikes. Ashford converts hotel, St. Joe builds new property. Personnel changes across industry, Alberto Pirozzini joins Pellicano Hotels as COO.

DJIA down 37 points, Nasdaq up 207, S&P 500 up 30; 10-year treasury yield rises to 4.34%. Lodging stocks mixed, SLNA up 9%, BHR down -6%, VAC trades lower. Florida reports strong international visitor numbers, overseas travel up 21.8%, Canadian visitation up 81.1% in H1 2023. Florida sees 70.8 million annual visitors, leading post-pandemic recovery in overseas travelers. Grand Galvez hotel joins Marriott's Autograph Collection with elegant renovations. Aloft Chicago Schaumburg transforms former Holiday Inn into 119-room boutique hotel. IHG's Kimpton to open two boutique hotels in Mexico City. Hartsfield-Jackson Airport plans new administration building and mid-tier hotel. New hotel in Milwaukee's Deer District and upgraded Enclave at The Vendue opening in Charleston. US Real Estate Credit Holdings to purchase bankrupt Banyan Cay Resort.

Major stock indexes and several lodging stocks experienced declines. Service Properties Trust signaled a shift away from hotel acquisitions after buying the Nautilus Hotel in Miami. New hotels opened in Cincinnati , Yuba City , Orange , TX, and Pennsylvania . Notable construction and restoration projects are underway in Houston, Hastings, and Longmont. Several properties announced upcoming renovations or management changes. RobertDouglas managed a $60 million sale of three properties; Cronheim Hotel Capital refinanced Hotel Phillips in Kansas City. Key personnel changes occurred at Valor Hospitality Partners and the Rosewood Hotel Group .

Marriott Vacations had the worst earnings report, with a significant miss on analyst estimates and a reduced guide. Hyatt and Host Hotels also missed estimates, with Hyatt's miss tied to leisure and resort exposure. The U.S. hotel construction pipeline is active in markets like Dallas , Atlanta , Phoenix , Nashville , and Los Angeles .

Stock markets showed mixed results with DJIA up 27 points, Nasdaq up 86, and S&P 500 up 13, while 10-year treasury yield increased to 3.91%. Wyndham Rewards topped the list in the 2023-2024 Best Travel Rewards Programs, and Hilton is set to open Motto by Hilton in New York City Times Square. Pennbridge Lodging plans to construct two Marriott brands in downtown Boise, and Four Seasons Hotels announced a project in Jacksonville, Florida.

Choice Hotels to integrate nearly 600 Radisson Americas hotels onto its reservation delivery engine and loyalty program. Dauntless Capital Partners purchases Hilton Garden Inn Bethesda Downtown for immediate renovation. Excel Hotel Group plans to build a 130-room SpringHill Suites Hotel in Grover Beach, California.