Wyndham Hotels & Resorts

MAR and HLT lodging stocks hit new highs, while several stock targets and ratings were adjusted. Q2 2023 shows a total construction pipeline of 552 projects/88,477 rooms in Latin America. Mexico leads with 213 projects/33,853 rooms. Marriott International dominates the franchise scene with 116 projects/18,733 rooms. Project MidX Studios is renamed StudioRes by MAR for the US and Canada market.

Stock market indices, including DJIA, Nasdaq, and S&P 500, experienced declines on Friday, with the 10-year treasury yield also dropping notably. Some lodging companies reported mixed earnings, with Apple Hospitality , RLJ , and Sunstone Hotel Investors beating expectations, while DiamondRock Hospitality and Playa Hotels missed estimates. Several hotel chains, including Wyndham Hotels & Resorts and LuxUrban Hotels, Inc. , are making expansion deals, and various hotel properties are undergoing renovations and acquisitions in different locations.

China hotel RevPAR increased by 27.9% year over year and by 13.7% when compared to 2019. Japan experienced a resurgence in inbound tourism, with GCC countries leading the way, and June 2023 saw 72% of the visitor numbers compared to June 2019. Several hotels, including W Sydney , W Macao Studio City , and The Grand Copthorne Waterfront Hotel , have announced openings and renovations to cater to the recovering travel demand. Additionally, CapitaLand Ascott Trust signed a Memorandum of Understanding for acquiring lodging assets in the UK, Ireland, and Indonesia.

Xenia Hotels & Resorts reported an in-line to a modest miss result and narrowed guidance. They repurchased common stock in the quarter. Chatham Lodging Trust had a 5% increase in RevPAR year over year and a 5% AFFO rise, with RevPAR down less than -2% from 2019. Several hotels announced new openings, acquisitions, and rebranding, including Omni Hotels & Resorts , Sonesta , Braintree Group , Elise Capital , Hyatt Hotels Corporation , and DiamondRock Hospitality Company .

The DJIA ended its winning streak with a 237-point drop, Nasdaq was down 77, and the S&P 500 fell 29 points. The 10-year treasury yield surged by 0.16, closing at a yield of 4.01%. Wyndham reported positive results, with its development pipeline rising and a significant stock buyback. Accor raised its annual profit outlook despite being slightly below analyst expectations. Senators Klobuchar and Moran introduced the Hotel Fees Transparency Act , aiming to crack down on hidden resort fees. They propose federal guidelines for pricing transparency in hotel stays.

Market Summary: DJIA rose 82 points, Nasdaq fell 17, S&P 500 down 1 point, 10-year treasury yield down to 3.85%. Uncertainty remains about the Fed's rate hike decision. Certares Real Estate Hospitality Fund : Certares closes its first real estate fund with $284 million in equity commitments, investing in 10 U.S. hotels. Hilton and Travel + Leisure face mixed responses from investors. JD Power study highlights staff service as the highest contributor to guest satisfaction in hotels.

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.

Financial Markets: DJIA up 184 points, Nasdaq up 26, S&P 500 rose 18 points, and 10-year treasury yield up to 3.86%. Lodging stocks performed poorly despite overall market gains. JP Morgan anticipates unimpressive 2Q23 RevPAR results and mixed net rooms growth in the lodging sector. They remain cautious due to tougher year-over-year comparisons and potential effects from tightening credit conditions. Several hotels are being developed or opened, including a 100-room hotel in Northeast Philadelphia, a Marriott Residence Inn in West Vail, and a Fairfield Inn & Suites in Conway, South Carolina. Some projects are facing challenges, like the halted construction of a Homewood Suites in Skokie, Illinois, due to high-interest rates.

DJIA and S&P 500 rose, Nasdaq was up, and the 10-year treasury yield decreased. Airbnb Co-founder Joe Gebbia sold over $1 billion worth of stock, while ABNB reached a 52-week high. U.S. hotel RevPAR increased, new hotel constructions and acquisitions were announced, and a hotel opening was delayed in Portland.

Radisson Hotel Group expands its portfolio in the Asia Pacific region, adding over 60 hotels in Vietnam , India , Thailand , the Philippines , and China . IHG Hotels & Resorts introduces Vignette Collection to Phnom Penh , Cambodia, with the upcoming opening of Vignette Collection Phnom Penh Odom, following the success of Six Senses Krabey Island. Hilton opens Conrad Shenzhen in China's Qianhai business district, featuring 300 rooms and providing elevated luxury accommodations in the city's financial center.