Arizona

Dajia Insurance Group Co has put three hotels in the US up for sale, hoping to generate US$1.3 billion to take advantage of an expected surge in leisure travel and resort business. U.S. hotel operator Standard International is betting on Thailand’s post-pandemic tourism recovery. Bloomberg said Standard is hoping to power an expansion in Asia that will see it open properties in popular and less-explored destinations. The new $340 million dual-tower Docklands development in Melbourne, Australia will include a huge rooftop infinity pool, spanning 35 meters when it opens in 2026.

The DJIA  fell another 313 points, Nasdaq was down 110, the S&P 500 was down 44 points and if you thought mortgages were high before, the 10-year treasury yield was up another .08 to 3.57%. Playa Hotels & Resorts announced its board of directors reauthorized the repurchase of up to $100 million of the company’s outstanding shares. According to Hodges Ward Elliott's Q2 report , the New York City hospitality sector continues its recovery as travel surges and hotels reopen.

The  DJIA  ended Friday with a gain of 377 points while  Nasdaq  was up 250, the  S&P 500  rose 61 points and the  10-year treasury yield  was up .03 to 3.32%. Lodging stocks were modestly higher. USA Today published a story, actually a prediction that new hotel fees may be popping up . The St. Joe Company and InterMountain Management, LLC announced the commencement of construction on a new hotel in Panama City Beach, FL .

The  DJIA  rose 61 points,  Nasdaq  was up 50, the  S&P 500  was up 12 points and the  10-year Treasury yield  is quickly rising to where it peaked in June, up another .05 to 3.11%. STR said US RevPAR  for the week ended 8/20 was up 16.9% versus the same week last year. Global hotel groups are holding near-record amounts of cash.  Seven of the best-known hotel groups were collectively sitting on about $7.3 billion in cash and short-term investments as of the end of June .