Latest News

China reported 2,312 new Covid infections nationwide today , the first time in more than three months that cases topped 2,000 for three consecutive days. Singapore’s Changi Airport emerged as the busiest airport in Asia in the three months to June 30, 2022, recording more than double the number of passenger movements than its nearest rival. The newly built 229 keys midscale Mercure Kuala Lumpur Glenmarie managed by Accor has officially opened in Shah Alam, Selangor in Malaysia.

Truist lowered target prices on their vacation ownership names despite publishing a positive report on their beat and raise quarters along with the continued return of capital. STR and Tourism Economics adjusted occupancy downward but lifted projections once again for ADR in the revised U.S. hotel forecast just presented at the Hotel Data Conference . Mission Hill Hospitality has acquired the Courtyard by Marriott Lenox and Hampton Inn & Suites Berkshire-Lenox , located in the heart of the Berkshire region of Western Massachusetts.

Choice Hotels International, Inc. has completed the acquisition of the franchise business, operations and intellectual property of Radisson Hotels Americas. Selina filed with the U.S. Securities and Exchange Commission a registration statement on Form F-4, in connection with its previously announced proposed business combination with BOA Acquisition Corp. The Gulf Coast’s first beachfront Hyatt Place hotel is now open in Panama City Beach.

STR reported Sydney, Australia hotel occupancy dipped in July from June. Occupancy in July 2022 was 65.8% while ADR was A$239.96 resulting in RevPAR of A$157.80. The Business Times reported business has picked up so much in Singapore that hotels are frantically looking for employees as staffing levels have yet to match the tourism pickup. Choice Hotels Asia Pacific said corporate travel has returned to a new normal with guests seeking value for money as work trips merge into leisure.

The DJIA surged 515 points, Nasdaq was up 361, the S&P 500 was up 88 and suddenly the 10 year treasury yield is calm and the indexes are nuts again. STR said US Lodging RevPAR was up 12.2% year over year for the week ended 8/6. Global travel prices are predicted to continue to increase in the remaining months of 2022 and throughout 2023, according to the 2023 Global Business Travel Forecast.

China has locked down part of Tibet’s capital following reports of a Covid-19 outbreak that grew from four to 22 cases on Monday. Radisson Hotel Group announced the signing of Radisson Biratnagar in Nepal, in partnership with The Centurion Hotel Private Limited. Ennismore announced its continued expansion across New Zealand and Australia with the signing of four new hotels in New Zealand with CP Group.

The DJIA fell 58 points, Nasdaq was down 151, the S&P 500 was down 18 points, and the 10-year treasury yield was up .03 to 2.80%. The second half of the earnings season included a sparkler from Hyatt, while IHGwent back to returning money to shareholders with dividends and up to $500 million in share buybacks. According to the recently released Q2 2022 Canada Construction Pipeline Trend Report from Lodging Econometrics , at the close of the quarter, the total construction pipeline in Canada stands at 261 projects.

Hong Kong announced plans to further ease its arrivals quarantine requirements . More than 50 luxury hotels are set to open in Jakarta and Bangkok within the next five years , highlighting the expectations of a strong economic recovery. Accor is teaming up with PT. Mega Hotel Lestari in introducing the first ibis Styles in Semarang in Indonesia .

The equity indexes have really calmed down while treasuries get really volatile. Lodging stocks were higher. AINC was the big mover, up 11%. SMBC Nikko cut its rating on Park Hotels & Resorts to Neutral from Outperform. Its price target is $16. The CBRE Hotels Research State of the Union showcases current demand trends, as well as fundamentals by segment, location type and chain scale.

STR said things really improved in China following the belief that the Covid outbreaks were over. Hotel RevPAR for the week ended July 30 th in China was up 8.5% year over year while down only -10.3% versus the same week in 2019. Travelers from Japan, Taiwan and Macau will be temporarily allowed to enter South Korea without a visa this month. Baring Private Equity Asia announced its affiliated real estate funds completed the acquisition of the Sydney Hilton hotel for A$530 million.

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 .