Connecticut

The  DJIA  fell 285 points,  Nasdaq  was down 174, the  S&P 500  fell 38 points, and the 10-year treasury yield was down nearly .10 to 3.91%. Let’s hope the first two trading days do not represent the rest of the year. STR’s  global “bubble chart” update through December 16, 2023 showed 75% of markets with growth in RevPAR compared to 2019. Could there be a hotel building moratorium in one of the most popular areas of Southern Florida?

Morgan Stanley remains optimistic about the hotel industry's growth, forecasting a 2% RevPAR growth globally for next year, with potential for higher growth. Selina Hospitality faces stock value decline and plans for delisting from Nasdaq. The Leading Hotels of the World welcomed new members, including newly opened or renovated hotels in New York, California, China, France, Greece, Spain, Italy, and Venice.

Stock market performance: DJIA up 66 points, Nasdaq up 97, S&P 500 up 19 points, and 10-year treasury yield down to 4.60%. Lodging industry updates: US hotel RevPAR increased 5.2%, Group RevPAR was up 29.5%. Stifel lowered target price on Wyndham Hotels & Resorts, while Exane BNP Paribas downgraded IHG Hotels & Resorts. International travel data: International visitors spent $19.0 billion on US travel in August 2023, with a trade surplus of $1.8 billion. Travel and tourism accounted for 7.4% of US exports of goods and services in August 2023.

Stock market indices showed gains on Friday, with DJIA up by 288 points, Nasdaq up by 212 points, and S&P 500 up by 50 points, while the 10-year treasury yield increased to 4.78%. San Francisco saw a significant increase in weekday occupancy, and STR reported a 66.3% occupancy rate for US hotels in September 2023. Several new hotels and renovations were announced, including Aloft Hotel near Fort Lauderdale, Residence Inn in Vail, and the Union Station Nashville Yards.

Stock markets experienced mixed performance, with DJIA and Nasdaq rising, while S&P 500 increased. Mortgage holders who didn't lock in rates may regret their decision as the 10-year treasury yield rose. Several lodging stocks had varied results, with SHCO and SLNA showing gains, while AINC rebounded and INN, AHT, and VAC hit new lows. SOND declined. B of A Securities raised the price target for Soho House, Argus Research initiated coverage on Choice Hotels, and Baird discussed Hersha Hospitality Trust's preliminary proxy statement.

Marriott is planning a new Residence Inn in Cary, North Carolina, featuring 122 guestrooms, meeting facilities, and various amenities. Hilton has opened Motto by Hilton New York City Times Square, marking the second Motto by Hilton brand in the city and the sixth Motto by Hilton overall. IHG Hotels & Resorts has celebrated the opening of a new Holiday Inn property in South Philadelphia after a $10 million conversion, marking their first IHG-banded property in the area.

Hilton and Marriott are expected to report strong 2Q23 results with international strength as a key driver. Various hotels in different regions are undergoing significant expansions, renovations, and acquisitions, with Hilton announcing a new property in Cancun and Scandic Hotels Group expanding its portfolio in Sweden . Accor is in exclusive negotiations to acquire a majority stake in Potel & Chabot, potentially becoming the sole shareholder of the company.

Stock Market: DJIA rises while Nasdaq and S&P 500 experience slight declines. Hotel Sales: Major U.S. hotel sales show decreases in transactions, dollar volume, and prices per key. Hotel Developments: Construction progresses on a skyscraper in New York and new hotels are planned in Virginia , Connecticut , and South Carolina .

Stock market performance: DJIA was up 86 points, Nasdaq up 158 points, and S&P 500 rose 33 points, while lodging stocks mostly declined. Wells Fargo raised target prices on lodging stocks, including RHP, APLE, HST , and DHR , maintaining their ratings. Various hotels underwent renovations, including Courtyard Louisville Airport and Chancellor's House Hotel , while new hotels were announced, such as the Hampton Inn & Suites in Pittsburgh and Riversuites in Philadelphia.

Financial markets experienced declines with the DJIA falling 187 points and the S&P 500 down 13 points, while Nasdaq dropped 18 points. However, lodging stocks showed mixed to higher performance despite the overall market decline. Ashford Hospitality Trust (AHT) expects to return 19 hotels to lenders in various cities, including Las Vegas and Atlanta, due to missed repayment deadlines on a $982 million mortgage pool. AHT faced negative equity in the properties and opted not to pay for an extension, potentially impacting the hotel industry's debt situation. STR's global "bubble chart" update revealed that 85% of markets saw growth in Revenue Per Available Room (RevPAR) compared to 2019. Occupancy rates played a significant role in driving RevPAR, with coastal countries along the Mediterranean Sea showing strong growth. However, Saudi Arabia experienced the largest decline in RevPAR at 51%.