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Market Update: DJIA up 270 points, S&P 500 rose 23 points, Nasdaq remained flat, and 10-year treasury yield jumped to 3.85%. Lodging Industry News: STR reported a slight decline in hotel RevPAR , but a 12% increase compared to the same week in 2019. Hotel Renovations and Openings: StepStone Hospitality completed a $3.5 million renovation at Fairfield Orlando I-Drive Convention Center, and The Ritz-Carlton Naples reopens after extensive renovations with new amenities and redesigned rooms.

China Hotel RevPAR: China Hotel RevPAR increased by 44% YoY for the week, but compared to the same week in 2019, it was down by -5.9%. Macau Hotel Occupancy: Macau 's hotel occupancy rate in May rose by 44.6 percentage points YoY, reaching 78.9%. Three-star hotels had an 81% occupancy rate, while five-star hotels reached 79%. Boutique Hotel Market in Australia: Australia 's boutique hotel market is experiencing growth due to a travel evolution sparked by the pandemic. Boutique properties outperformed international hotels in occupancy, ADR, and RevPAR, driven by domestic, leisure-based tourism.

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.

Philippines aims to become a tourism powerhouse with a new slogan "Love the Philippines" and a five-year plan to boost visitor numbers. Mandarin Oriental in Guangzhou introduces child-friendly MiniMO Jungle Suites and Rooms with themed decor and exclusive amenities. Pan Pacific Hotels Group plans to open Pan Pacific Serviced Suites Bangkok in 2026, featuring 191 suites and leisure spaces.

The DJIA, Nasdaq, and S&P 500 experienced growth with varied changes in lodging stocks. Morgan Stanley adjusted price targets for numerous lodging companies, including Sunstone Hotels and Host Hotels . Major hospitality companies, such as Selina Hospitality , Whitestone Companies , and Marriott Hilton Head Resort & Spa, announced important business updates including investments, renovations, and acquisitions. EOS Hospitality , Hotel Equities , and Aimbridge Hospitality made key personnel changes. Accor plans to open 1,200 hotels in the next five years, with a RevPAR growth of 15% to 20%. Aimbridge Hospitality will manage the Alliance Palace Aparthotel in Batumi, Georgia.

Vietnam hotels face challenges: Recession and sluggish tourism lead to hotel sales and closures. High demand in Fiji tourism: Shortage of 4,000 hotel rooms, increased spending. New hotel developments in Asia: 25hour hotel in Jakarta , Lanson Place in the Philippines , Hilton Garden Inn in Islamabad .

Market summary: DJIA, Nasdaq, and S&P 500 experienced declines, while the 10-year treasury yield decreased slightly. Playa Hotels & Resorts downgraded by Bank of America Securities, with a lowered price target. In Europe and the Caribbean, look to the upcoming opening of One&Only Aesthesis resort in Greece , renovations at Club Med Buccaneer's Creek in Martinique , Eurostars Hotel's operation of a luxury hotel in Rotterdam

Stock market: DJIA fell 219 points, Nasdaq was down 138, and S&P 500 fell 34 points. Pebblebrook Hotel Trust warns of weaker weekend leisure travel and expects slightly lower 2Q revenue. Various hotel announcements: HHM Hotels launches Echelon Luxury & Lifestyle division, Driftwood Capital acquires Hilton Dallas/Plano Granite Park, LBA Hospitality opens Homewood Suites by Hilton in Greenville, Renaissance Cleveland undergoing renovations, and more.

Market Performance: DJIA fell 5 points, Nasdaq rose 128, and S&P 500 increased by 16 points; lodging stocks underperformed consumer and leisure stocks. Jefferies Nantucket Conference: Lodging companies report moderation in leisure demand, strength in group business, and mixed recovery of business transient; limited conviction impacting strategies and stock performance. Hotel Industry Updates: Canada's hotel industry shows improved performance; various hotels undergo renovations, acquisitions, and openings across different locations.

China hotel industry shows strong recovery with a 59.8% increase in RevPAR compared to last year. Ascott Ltd. plans to expand its properties in Malaysia and diversify into the hotel business. Raimon Land Plc announces three luxury projects in Phuket and Bangkok, targeting the luxury segment.

Stock market indices experienced a decline, with DJIA falling 102 points, Nasdaq down 165 points, and S&P 500 falling 23 points. The American Hotel & Lodging Association successfully lobbied for new PPP eligibility guidelines, allowing hotel owners who used third-party management companies to qualify for loan forgiveness. The U.S. hotel industry reported improved performance in May 2023 compared to the previous year, with increased occupancy, ADR, and RevPAR, particularly in the top 25 markets.

Hotels in Vietnam, particularly in Ho Chi Minh City, are experiencing closures and are being listed for sale due to lower-than-expected visitors, revenue, and the need for capital expenditure. Centara Hotels & Resorts is entering the Japanese market with the opening of Centara Grand Hotel Osaka, featuring 515 rooms, world-class dining options, and extensive meeting facilities. The Philippines conglomerate Alliance Global Group plans to allocate Php4 billion for the expansion of Manila's Newport World Resorts, part of a broader Php70 billion investment for 2023.