Vacasa

The DJIA, Nasdaq, and S&P 500 rose on Friday, while Canada's hotel industry saw a slight decline in occupancy in July 2024 after three months of increases.

Club Med announced renovations at its Cancun and Punta Cana resorts and plans for a new luxury resort in Oman opening in 2028.

CBRE has lowered its U.S. hotel performance forecast for 2024 due to weakening leisure travel and corporate profits but still expects RevPAR growth driven by international tourism and election-related events.

Hyatt is set to sell the Hyatt Regency Orlando for approximately $1.02 billion to Ares and RIDA Development, with Hyatt retaining a preferred equity interest and a 30-year management agreement.

The CBRE August 2024 U.S. Hotels report highlights slowing GDP growth, moderate consumer risks, declining CMBS borrowing rates, and mixed performance in hotel occupancy, RevPAR, and travel metrics.

Truist reported that Lodging Econometrics expects steady hotel supply growth rates through 2026, supporting Ryman Hospitality with minimal new competition in large convention hotels.

Choice Hotels missed earnings expectations and lowered RevPAR guidance, but maintained EBITDA guidance and continued significant stock buybacks.

Hilton beat estimates and cut guidance, and seemed to have a report that was accepted more than Marriott ’s.  The company has raised their net room growth target for the year and it repurchased shares this quarter.

Key events included DiamondRock Hospitality's upgrade, Hyatt and Apple Hospitality lowering guidance, and IHG reporting strong new room signings despite challenges in China.

Financial markets plunged with major indices and lodging stocks down sharply, except for SHCO which rose 6%.