Costa Rica

Goldman Sachs is cautiously optimistic about the lodging sector, with Buy ratings on Hilton, Wyndham, and Marriott, while holding Neutral or Sell ratings on others, especially in the timeshare segment.

M3, LLC has secured a majority investment from Blackstone Growth, with AAHOA also investing, to accelerate its growth and expand its hotel management software.

Hilton plans to exceed 300 hotels in the Caribbean and Latin America within three years, expanding its presence significantly in countries like Argentina, Peru, Colombia, Costa Rica, Mexico, the Dominican Republic, and Brazil, while introducing new brands and entering new markets.

The market liked this conclusion: both companies' stock prices rose, with Choice Hotels up 6% and Wyndham Hotels 2%, indicating investor relief – or strategic reassessment.

Marriott International announced a year of robust room signings and additions across the Caribbean and Latin America in 2023. The Company nearly doubled its number of organic deal signings in the region versus the prior year.

Choice Hotels International purchased more shares in Wyndham Hotels & Resorts in its unsolicited exchange offer to acquire the company. The Baird/STR Hotel Stock Index rose 9.3% in November, with the Hotel REIT sub-index up 7.6% year-to-date and the Hotel Brand sub-index up 30.6% year-over-year. BCD Travel forecasts a global decrease in airfares and a 6.8% increase in hotel rates in 2024.

U.S. Hotel Industry Performance (Oct 2023): Shows mixed results with slight declines in occupancy (-1.8%) and EBIDTA PAR (-1.2%), but increases in ADR (+3.0%), RevPAR (+1.2%), TRevPAR (+4.0%), GOPPAR (+3.7%), and LPAR (+5.9%). Hyatt plans over 35 new luxury hotels by 2025 across its brand portfolio. Other notable openings include Auberge Resorts' Bowie House in Texas, Six Senses Xala in Mexico, Riu Palace Pacifico's refurbishment in Mexico, and new Universal Orlando resorts.

Apple Hospitality REIT reported a modest beat in 3Q results but lowered 4Q guidance due to higher expenses, offsetting improved RevPAR guidance. STR reported that for the week ending November 4, US RevPAR was down by -2.1%, with a -4% decrease in occupancy, and a -7.4% drop in Group RevPAR. Latin America's hotel construction pipeline shows growth with 579 projects and 95,144 rooms in Q3 2023, up 6% in projects and 5% in rooms year-over-year, with Mexico leading the way.

DJIA down 37 points, Nasdaq up 207, S&P 500 up 30; 10-year treasury yield rises to 4.34%. Lodging stocks mixed, SLNA up 9%, BHR down -6%, VAC trades lower. Florida reports strong international visitor numbers, overseas travel up 21.8%, Canadian visitation up 81.1% in H1 2023. Florida sees 70.8 million annual visitors, leading post-pandemic recovery in overseas travelers. Grand Galvez hotel joins Marriott's Autograph Collection with elegant renovations. Aloft Chicago Schaumburg transforms former Holiday Inn into 119-room boutique hotel. IHG's Kimpton to open two boutique hotels in Mexico City. Hartsfield-Jackson Airport plans new administration building and mid-tier hotel. New hotel in Milwaukee's Deer District and upgraded Enclave at The Vendue opening in Charleston. US Real Estate Credit Holdings to purchase bankrupt Banyan Cay Resort.

Stock Market Update: DJIA, Nasdaq, and S&P 500 all ended the day with gains, reflecting a broad market RLJ Lodging Trust : Baird reports positive investor meetings, highlighting underappreciated growth outlook and company drivers. Hotel Developments: AC Hotels by Marriott planned in East Memphis , acquisition of Westin Annapolis , and Equinox Hospitality 's acquisition and rebranding of Four Points by Sheraton San Rafael Marin County.