Detroit

MCR plans to build two eight-story hotels with a total of 400 rooms and additional parking facilities next to the Hilton Miami Airport Blue Lagoon.

The owners of the CitizenM hotel chain, valued at 2 billion euros five years ago and now expected to double in sale price, are considering selling the rapidly expanded brand with over 40 global locations.

Wells Fargo predicts a stabilization in interest rates in 2024, benefiting hotel sector growth, with a focus on high-end leisure and Asia Pacific markets. Oppenheimer raised the target price for Host Hotels, and Driftwood Capital secured a significant refinancing loan for Hilton Cocoa Beach Oceanfront Hotel. There were key personnel changes in various hotel groups, such as Concord Hospitality and Great Wolf Resorts, indicating a focus on business development and wellness.

Jefferies upgraded Park Hotels to Buy from Hold, reflecting positive changes like the removal of their San Francisco assets. Meanwhile, they downgraded Choice Hotels to Underperform from Hold due to concerns over its acquisition strategy, specifically regarding Wyndham Hotels. Apple Hospitality REIT, Inc. announced the acquisition of the Springhill Suites by Marriott Las Vegas Convention Center for approximately $75 million. Bradford Allen Hospitality acquired two hotel properties in Riverhead, New York, planning significant renovations for both. PEG Companies opened The Moxy in the historic Luhrs Building in downtown Phoenix, Arizona. Hawkeye Hotels commenced construction of a Fairfield Inn & Suites in downtown Spartanburg, South Carolina, targeting a spring 2025 opening.

Hilton Worldwide Holdings Inc has entered into a partnership with Hallmark Channel to create Christmas-themed suites inspired by Hallmark’s “Countdown to Christmas” movies. The Waldorf Astoria Las Vegas has completed phase one of a multimillion-dollar property-wide transformation. This includes a redesign of all 389 guestrooms and suites and upgrades to meeting and event spaces. Margaritaville Resort Lake Tahoe, located in South Lake Tahoe, California, has announced its December 14th opening date. The transformation of the former Lake Tahoe Resort Hotel into a Margaritaville property cost over $70 million.

Top U.S. hotel construction markets in Q3 2023: Dallas, Atlanta, Nashville, Phoenix, and the Inland Empire lead in the number of projects and rooms. Hotel renovation and conversion pipeline activity remains strong with 1,912 hotels and 285,568 rooms currently undergoing renovations. Notable openings and developments include the Candlewood Extended Stay Suites in Kennesaw, Avenue Hotels & Residences in Coral Gables, Hotel Lucine in Galveston, and Radisson RED Helsinki.

IHG reported strong earnings, including a 10.5% increase in Group RevPAR, but disappointed shareholders by deferring capital returns. The US group business is rebounding well, with top markets nearly fully recovered to 2019 levels. Prominent cities like Austin, Nashville, and Denver exceeded 2019 figures. Various hotel developments and acquisitions are ongoing in different locations, reflecting the industry's resilience and growth prospects. Notably, TMGOC Ventures secured approval to introduce the first Ritz-Carlton in Savannah.

DJIA and Nasdaq dropped significantly, 10-year yield surged, and lodging stocks declined. U.S. hotel industry saw lower occupancy but improved year-over-year comparisons. Peachtree Group announced multiple hotel acquisitions and new development projects, while other hotels are under renovation and expansion.

DJIA, Nasdaq down; S&P 500 fell; 10-year treasury yield up. Hotel Trends: Global RevPAR growth; Canada's record ADR and RevPAR; mixed occupancy rates. Developments: Hotel expansions, renovations; Hyatt Vacation Club launch; new CEOs, brand in Croatia.

The DJIA, Nasdaq, and S&P 500 experienced growth with varied changes in lodging stocks. Morgan Stanley adjusted price targets for numerous lodging companies, including Sunstone Hotels and Host Hotels . Major hospitality companies, such as Selina Hospitality , Whitestone Companies , and Marriott Hilton Head Resort & Spa, announced important business updates including investments, renovations, and acquisitions. EOS Hospitality , Hotel Equities , and Aimbridge Hospitality made key personnel changes. Accor plans to open 1,200 hotels in the next five years, with a RevPAR growth of 15% to 20%. Aimbridge Hospitality will manage the Alliance Palace Aparthotel in Batumi, Georgia.