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North America
Bay Area Gets Closer to Welcoming a Margaritaville
The Baird/STR Hotel Stock Index dropped by -2.4% in October, marking the third consecutive monthly decline. Wells Fargo adjusts price targets for Apple Hospitality and Ryman Hospitality, maintaining Overweight ratings. Trump Hotels and Irongate reach a buyout agreement for Trump International Hotel, Waikiki, transitioning to Hilton’s LXR Hotels & Resorts in 2024. -
North America
Marriott and Hilton Embrace Dividends and Stock Buybacks
DJIA rose 391 points, Nasdaq up 277, and S&P 500 rose 68, with notable movements in lodging stocks, Hilton, and Marriott. PwC predicts economic challenges for hotels through 2024. CBRE reports mixed trends in the U.S. hotel industry, with RevPAR contraction, short-term rentals gaining market share, and outbound U.S. travelers surpassing inbound. Several hotel developments and expansions are underway, including in Banff, Nashville, and Park City. Hilton expands to Monaco, Marriott brings The Luxury Collection to Greece, and Minor Hotels debuts in Paris. Various hotel acquisitions, developments, and renovations are announced across the United States, reflecting a dynamic and evolving hospitality landscape. -
North America
Lodging Stocks End the Week Higher
Stock market rallied as treasury bond yields fell, with DJIA, Nasdaq, and S&P 500 gaining points, while lodging stocks like SOND, AHT, and others saw significant increases. Several hotel-related developments were announced, including renovations, new hotels, and property sales in various locations across the United States. Rosewood Hotels & Resorts will introduce Rosewood Blue Palace in Greece in 2025, while the British Colonial Hotel in Nassau, Bahamas, will reopen on December 12 after a $100 million renovation. -
North America
Hilton and Hallmark Launch Christmas-Themed Partnership
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. -
North America
Business Travel Close to a Full Recovery
JP Morgan downgraded IHG Hotels & Resorts from Neutral to Underweight, favoring Premier Inn owner Whitbread in the European hotels sector. Canada has 275 hotel construction projects with 37,780 rooms in its pipeline, with 22 new projects announced in Q3. Ontario leads with 160 projects, and Toronto has the most projects with 61. A total of 16 new hotels opened in the first three quarters of 2023, with more expected in the last quarter and beyond. The latest GBTA Business Travel Outlook Poll reports that domestic business travel bookings have reached 75% of 2019 levels, while international bookings are at 70%. Spending on domestic business travel is at 77%, and international spend is at 74%. -
North America
The U.S. Hotel Pipeline at the End of Q3 2023
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. -
North America
Hilton’s Stellar Earnings Season
Hilton outperforms in US lodging earnings season, with impressive results and a strong development pipeline. Dream Las Vegas project shows signs of revival as financing issues are being resolved. Club Med announces a series of exciting international resort developments and a shift to exclusive 4 and 5-star offerings. -
North America
Disney to Open Pixar-Themed Hotel
The DJIA rose 205 points while Nasdaq was up 122, the S&P 500 rose 31 points and the 10 year treasury yield was flat at 4.84%. Lodging stocks were higher. We did see another new low… -
North America
$133 Million Margaritaville Hotel Approved in Kentucky
HSBC initiates stock coverage in the leisure and travel sector, including Buy ratings for Hyatt, Marriott, Hilton, and Host Hotels, along with Hold ratings for Park Hotels, Choice Hotels, and Service Properties Trust. Several hotel projects and acquisitions are highlighted, including the opening of the Ritz-Carlton Hotel in Portland, a new property by Maverick Hotels and Restaurants in Rockford, and North American Properties’ approval for a Margaritaville hotel in Newport, Kentucky. Notable developments and changes in the international hotel industry, such as Adrian Messerli’s promotion at Four Seasons, Hilton’s plans to open Italy’s first LXR Hotels & Resorts property, and Riu Hotels and Resorts opening a new all-inclusive resort in Jamaica next year. -
North America
NewcrestImage Expands Portfolio with Three Marriott Hotel Acquisitions
Truist expects strong international and group earnings in 3Q lodging reports but weak domestic leisure. CoStar reports higher hotel performance in September 2023, with New York City leading in occupancy. Several hotel transactions and developments are mentioned, including Omni Pontoque Resort and Alt Hotel Calgary University District.