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Asia-Pacific
Marriott Adding Brands and Properties in India
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 . -
North America
DiamondRock Beats Preliminary Results
DiamondRock Hospitality reported 3Q results, beating the preliminary results they announced two weeks ago. Jefferies cut its rating on Xenia Hotels & Resorts to Hold from Buy. Lodging stocks were mixed. SLNA plunged another -20%, quickly becoming the biggest disaster in a long line of SPAC disappointments in the past year -
North America
Lodging Stocks End Higher While Hotel Index Stock Drops
The DJIA jumped 551 points today while Nasdaq was up 354, the S&P 500 was up 95 points and the 10-year treasury yield was up .01 at 4.02%. The Baird/STR Hotel Stock Index fell -9.1% in September. Despite continued strong RevPAR, both year over year and 2019 comps, the stock index has dropped -20.6% in the first 9 months of the year. Driftwood Capital broke ground on the Element by Westin , a new 130-key extended-stay hotel located on prime oceanfront property in Melbourne, FL . -
North America
Report: Hotel Rates Will Increase Worldwide in 2023
A new American Express Global Business Travel report suggests hotel rates worldwide will increase again in 2023 thanks to pent up demand for in person meetings. Choice Hotels International announced the opening of the first Everhome Suites hotel, debuting in Corona, California . HN Capital Partners announced the acquisition of the historic Rosewood Mansion on Turtle Creek , an iconic century old former private estate in Dallas.