Cuba

Deutsche Bank's conference highlighted mixed optimism in the lodging and gaming sectors, with expectations of growth driven by international markets. Revised forecasts for the U.S. hotel industry in 2023 indicate slight adjustments in occupancy, ADR, and RevPAR predictions. The sector saw various activities, including MHG's acquisition of Marriott West Palm Beach Airport, 3H Group's plans for a new Hilton in Florida, and the opening of a new Holiday Inn Express in Arizona. International expansions and renovations were also notable, with new properties and rebranding efforts in several countries. Valencia Hotel Group rebrands to Valencia Hotel Collection, marking its 20th anniversary with leadership restructuring and expansion plans. Libertyland USA, a mixed-use development, is set to open in South Dakota by 2026, featuring an indoor waterpark and other amenities. Agora Realty & Management acquires a 73-acre site in Las Vegas for mixed-use development.

Choice Hotels International reported solid 1Q results, better than expectations. In the good old days, when stocks actually moved up and down based on fundamentals. Deutsche Bank upped their target price on Ryman Hospitality to $128 from $126 and reiterated their Buy rating. The Four Seasons Hotel Boston has reopened following the completion of a dramatic design update of its arrival area, lobby and port cochere.