Delaware

North America

Raines Buys HP Hotels, Hilton to Expand in France

Raines announced they acquired HP Hotels , a full-service, third party hotel management company. Raines said this will result in operational expansion throughout the Southeast and Southwestern U.S. The Courtyard by Marriott Long Beach Downtown announced the addition of two Topgolf Swing Suites at their 216-room hotel. Borgata Hotel Casino & Spa , in Atlantic City, New Jersey , is embarking on a $55 million redesign and rebranding of The Water Club, in time for the resort’s twentieth anniversary.
North America

Airbnb Has Its First Profitable Year

Airbnb definitely got a better response from investors on their 4Q earnings report than traditional lodging analysts. Choice Hotels continued the parade with 4Q revenue and EBITDA comfortably above estimates with the Radisson acquisition helping with that. STR reported U.S. lodging data for the week ended 2/11. RevPAR was up 18.9% year over year.
North America

Price of U.S. Hotels Shows Strength in Most Regions

The DJIA rose 208 points while Nasdaq was down 203, the S&P 500 fell 46 points and the 10-year treasury yield was down .02 to 3.65%. STR reported US lodging RevPAR for the week ended February 4. RevPAR was up 26.6% year over year. When compared with the same week in 2019, RevPAR was up 6.1%. Three historic buildings in downtown Cincinnati, Ohio will soon become a hotel when combined with a newly built seven-story tower.
North America

U.S. Hotel RevPar Last Week Down YoY, Improved Over 2019

For a change, the markets went up when Fed Chief Powell spoke. They interpreted his commentary and body language as blinking, that the bulk of the interest rate hikes are over. STR said  US hotel RevPAR  the week ended November 26 was  down -0.1% year over year . Cambria Hotels  announced the  opening of its six-story, 121-room location in downtown Minneapolis  to complete the newly constructed dual-hotel building.
North America

U.S. Hotel RevPAR Tops 2019 for Week Ending 11/19

STR reported US lodging data for the week ended 11/19. US hotel RevPAR was up 20.1% year over year while up 19.3% for the same week in 2019. Following weeks of preliminary groundwork, construction has finally begun on the new Moxy Asheville – North Carolina’s first Moxy Hotel. Hilton Worldwide Holdings Inc . is partnering with Proof & Co.’s beverage consultancy arm to revamp the bar experience at all of its Waldorf Astoria properties.
North America

Selina Surges on First Day of Trading

Lodging stocks had a good day, with Selina’s first day of trading leading the way, surging to a close of $40.90. Hersha Hospitality , Accor and Travel + Leisure reported results with TNL getting the worst reviews . Selina and BOA announced the closing of their business combination which was approved by BOA stockholders on October 21, 2022.
North America

All Hotel Classes Are Showing ADR Recovery

The DJIA fell 400 points on Friday while Nasdaq was down 328, the S&P 500 fell 86 points and the 10- year treasury yield pierced the 4% ceiling and probably is not done yet. According to CoStar , boutique hotels are performing well in 2022 and all classes show recovery in ADR, surpassing 2019 peak levels and leading the U.S. hotel industry. Hilton and Dittmar Company announced the signing of Hilton at The Key, Arlington-Rosslyn , located just minutes from Washington D.C. in Arlington, VA.
North America

Business Travel May Be Back, Mostly?

B.Riley maintained its Neutral rating on Ashford Hospitality but lowered its price target from $12 to $9. The Heard on the Street Column from the Wall Street Journal today focused on  business travel , a positive article on how it is back with the potential to be better than ever. A company called CorpHousing Group Inc., which is engaged in the short-term rental of hotel units to guests across major metropolitan cities in the US, priced an IPO of 3,375,000 shares.