Westin Hotels & Resorts

Goldman Sachs said the Chinese government still needs to keep its Zero-Covid policy until probably the April-June quarter. Some 39 buildings of the No.2 Island of the Ocean Flower Island , an artificial archipelago in Danzhou , South China’s Hainan Province developed by China’s debt-ridden Evergrande Group will be repurposed. Vietnam’s second-biggest listed developer, No Va Land , is firing staff and seeking urgent asset sales.

Chinese authorities signaled a move to ease international travel requirements, just a couple of days after President Xi reiterated his Zero-Covid policy. Four Seasons Hotels and Resorts and Sun Hung Kai Properties announced plans for a new Four Seasons hotel in historic Suzhou, China . Marriott International’s Ritz-Carlton brand announced the Ritz-Carlton, Melbourne will open its doors in the first quarter of 2023.

According to July 2022 data from STR , the U.S. hotel industry reported record-high monthly room rates on a nominal basis. Raymond James believes the recovery in global travel still has plenty of room to run. They believe this is the earliest stage of what is set up to be a multi-year fundamental recovery in global travel. A 13-F filing from Sunstone Hotels showed Blackstone Group had taken a 4.1% stake in SHO.

The vast majority of lodging company earnings, both REIT and C-Corp , have been very positive, with the REITs being the biggest surprise. Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel , to its Latitudes: Lifestyle by Crescent collection. Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta , from affiliates of Marriott Vacations Worldwide .