Arizona

Upper upscale hotels, the property types most associated with business travel, are well represented in the U.S. development pipeline . According to the American Customer Satisfaction Index Travel Study 2022-2023, satisfaction across all four industries measured, airlines, hotels, car rentals, and online travel agencies, is up . STR reported US lodging data for the week ended 4/15. US hotel RevPAR was up 8.6% year over year.

Kimpton’s first-ever resort in the Western Caribbean is officially opening this summer, with the debut of the new Kimpton Grand Roatan in the Bay Islands of Honduras . According to The Wall Street Journal,  Goldman Sachs  is investing between 150 million and 200 million euros in  three seaside resorts  in the northern region of  Halkidiki . Key International  completed the purchase of  The Perry Hotel  on the waterfront in  Key West, FL  as part of an ambitious expansion of its $2 billion portfolio.

TD Cowen upped their price targets on Hilton to $142 from $140 and Marriott to $172 from $170. HVS gave their findings from the Hunter Conference . HVS said early 2023 comparisons continue to look favorable with easy comparisons in 1Q due to last year’s Omicron outbreak. Canada’s hotel performance increased from the previous month, with February RevPAR exceeding C$100 for the first time on record

Wyndham Hotels & Resorts Inc . upped their quarterly dividend by 9%, announcing a quarterly cash dividend of $0.35 per share up from the $0.32 a share quarterly dividend they paid during 2022. CoStar said that most Lodging Industry Investment Council members expect full-year lodging real estate transactions in 2023 to exceed the volume in 2022. A joint venture of NewcrestImage and Hospitality Capital Partners completed the acquisition of 11 hotels in seven states with a total of 1,551 rooms.

Lodging stocks were higher. ABNB led the group with a 7% rise while MCG was up 5%. Raymond James upped their price target on Hilton to $165 from $150. They maintained their Outperform rating. Ian Schrager and Ed Sheetz have stepped in to possibly partner with Chetrit Group , to rescue its landmark Bossert Hotel , located in Brooklyn Heights, New York.

Wells Fargo changed price targets on a bunch of hotel names in their coverage. In November 2022, total non-US resident international visitor volume to the United States increased 61.3% compared to November 2021 According to the Q4 2022 Hotel Construction Pipeline Trend Report for Canada by Lodging Econometrics, Canada’s total construction pipeline stands at 267 projects/35,758 rooms.

The DJIA  fell 392 points but Nasdaq was up 16, the S&P 500 rose 8 points and the 10-year treasury yield was up .02 to 3.54%. Lodging stocks were modestly higher with no major movers. Investment firm Sortis agreed to acquire Ace Group International for $85 million . The all-cash deal will give Sortis the boutique Ace Hotels brand and its hotel management company. International visitors spent more than $15.9 billion on travel to, and tourism-related activities within, the United States , an increase of nearly 57% compared to November 2021

The DJIA fell 350 points, Nasdaq was down 154, the S&P 500 fell 45 points and the 10-year treasury yield was up .01 to 3.72%. Mizuho cut their price target on Airbnb to $110 from $125. They maintained their Neutral rating on the stock. STR reported US lodging data for the week ended 12/31. US hotel RevPAR was up 4.2% year over year while up 35.6% versus the same week in 2019.

The DJIA rose 133 points while Nasdaq was up 72, the S&P 500 was up 29 points and the 10 year treasury yield was down .08 to 3.71%. Canada’s hotel performance came in lower than the month prior but showed improved comparisons to 2019, according to STR ‘s November 2022 data. Kolter Urban is planning to build a Ritz-Carlton Hotel Residences in Sarasota Bay, Florida .

Aloft Hotels announced it has arrived in Playa del Carmen, Mexico , marking the third Aloft hotel in the Caribbean. Two new hotels are being planned by Performance Capital Partners LLC in Surprise, Arizona . A new dual-brand Marriott TownePlace Suites and Marriott Fairfield Inn & Suites. MCR acquired the Hyatt Place Miami Airport East in Miami, FL , marking the company’s ninth hotel in Florida and its first Hyatt hotel.