British Columbia

Selina Hospitality received a delisting notice from Nasdaq due to its low stock price, but plans to implement a reverse stock split to regain compliance.

The stock market being as ugly as NJ and NY weather this morning probably had a lot more to do with Marriott’s outsized decline than the actual earnings report.

Group bookings across the industry’s largest portfolio of economy and midscale hotels will soon take minutes, not days, thanks to Groups360 and the rapid rollout at over 5,600 Wyndham hotels.

A new report for 2023 shows 85% of markets with RevPAR higher than 2019. In terms of top-line performance, that means most markets have recovered from the significant declines caused by the pandemic.

Hilton announced LivSmart Studios by Hilton is the official name of its new studio apartment-style, extended-stay hotel brand. LivSmart Studios already has more that 350 deals in various stages of negotiation.

Major hospitality companies reported mixed trends at the Morgan Stanley Global Consumer & Retail Conference, with lodging demand remaining positive but margins affected by high wages. Several companies, including Crescent Hotels & Resorts and HHM Hotels, announced the addition of new properties to their portfolios. Evermore Orlando Resort is set to open a unique beach paradise, and other hotels are undergoing significant renovations and refurbishments, indicating a continued focus on luxury and expansion in the hospitality industry.

The DJIA jumped 490 points while Nasdaq surged 327. The S&P 500 rose 84 points and the 10-year treasury yield was down .19 to 4.44%, all on a low inflation report. HLT and HT hit new highs while…

Market Movement:DJIA up 26, Nasdaq down 26, S&P 500 down 1, 10-year treasury yield down to 4.25%. Selina Hospitality Woes:Selina Hospitality's stock plunged 41%, facing financial struggles and a revised SEC prospectus. Other lodging stocks also hit new lows. Hotel Industry Highlights: Airbnb's price target raised to $110 by Morgan Stanley. American Hotel & Lodging Association praised new federal travel rates. Blackstone sold three hotels for $64.3 million. Various hotel developments and renovations announced. Hotel La Jolla undergoes $8M renovation. David Meisner rejoins White Lodging as Regional VP.

Stock market indices, including the DJIA, Nasdaq, and S&P 500, experienced declines on Friday, while the 10-year treasury yield saw a slight increase. Barclays expects some REITs, such as Pebblebrook Hotel Trust and DiamondRock , to be disproportionately impacted by below-expectation revenue per available room (RevPAR), while they believe Apple Hospitality will outperform. Oppenheimer slashed price targets on several lodging stocks, including Chatham Lodging Trust , RLJ Lodging Trust , Braemar , and Apple Hospitality , while maintaining their Outperform ratings on these companies.

Stock market summary: DJIA up 429 points, Nasdaq up 156, S&P 500 up 53. Increased demand for connecting rooms and suites in hotels due to multigenerational family and group travel. Acquisitions and expansions: Fairmont Hot Springs Resort acquired for $40 million, Rimrock Resort Hotel acquired for $170 million with renovations planned, and Bluegreen Vacations expanding accommodations across various properties.