Truist reported that Lodging Econometrics expects steady hotel supply growth rates through 2026, supporting Ryman Hospitality with minimal new competition in large convention hotels.
Hilton beat estimates and cut guidance, and seemed to have a report that was accepted more than Marriott ’s. The company has raised their net room growth target for the year and it repurchased shares this quarter.
The DJIA rose 99 points while Nasdaq surged 452, the S&P 500 rose 86 points and the 10-year treasury yield was down .03 to 4.11%. Lodging stocks were modestly higher, did much better due to the…
A stalking-horse buyer has offered $500 million for the abandoned Oceanwide Plaza in Downtown Los Angeles, which includes a partially built Park Hyatt hotel.
The NYU Conference had mixed opinions on its tone and mood, with Barclays finding it muted and Truist noting a lack of extreme bullishness, while discussions on hotel REITs highlighted concerns about investment strategies and the influence of hedge funds.
Hard Rock International will cease operations of The Mirage Hotel & Casino to begin transforming the venue into the Hard Rock Hotel & Casino and Guitar Hotel Las Vegas. The new resort will feature a guitar-shaped hotel nearly 700 feet in height.