Greece

Choice Hotels and IHG saw new 52-week highs after reporting their earnings. Service Properties Trust also had a positive day with a 4% stock increase. IHG introduced a new conversion-focused brand in the mid-market. Marriott acquired and integrated the City Express brand. Hilton introduced a new hotel in Times Square. Several other hotel groups, including Charlestowne Hotels, 21c Museum Hotels, and Six Senses, announced new properties or renovations. Tru by Hilton opened in Mississauga, Ontario. TUI is actively expanding its hotel portfolio. Mandarin Oriental and Six Senses revealed new luxury resorts in Italy and Greece, respectively. Personnel news highlighted new appointments at LBA Hospitality and Barriere.

Stock Market: DJIA rises while Nasdaq and S&P 500 experience slight declines. Hotel Sales: Major U.S. hotel sales show decreases in transactions, dollar volume, and prices per key. Hotel Developments: Construction progresses on a skyscraper in New York and new hotels are planned in Virginia , Connecticut , and South Carolina .

Market summary: DJIA, Nasdaq, and S&P 500 experienced declines, while the 10-year treasury yield decreased slightly. Playa Hotels & Resorts downgraded by Bank of America Securities, with a lowered price target. In Europe and the Caribbean, look to the upcoming opening of One&Only Aesthesis resort in Greece , renovations at Club Med Buccaneer's Creek in Martinique , Eurostars Hotel's operation of a luxury hotel in Rotterdam

Stock market indices experienced gains, with DJIA, Nasdaq, and S&P 500 rising while the 10-year treasury yield decreased. Truist's RevPAR Monitor highlighted positive and negative trends in the hotel industry, including the recovery of group travel and sluggish corporate individual business/transient segment. Various hotel-related announcements were made, including the launch of IHG's Wi-Fi Auto Connect feature, expansion of Saks Fifth Avenue's personal shopping service to luxury resorts, and the opening of new hotels by Hyatt, IHG, Palisociety, and others.

STR's global report reveals positive RevPAR growth in most markets, with notable gains in occupancy, particularly surpassing 2019 levels in half of all markets. Israel, Singapore, Greece, Italy, and Ireland emerge as top performers in terms of RevPAR among countries with over 50,000 rooms, indicating strong tourism and hotel demand. Summer approaches with rising occupancy rates in 40 out of 48 countries , signaling a promising season for the hospitality industry worldwide. However, Vietnam and Saudi Arabia experience significant declines in RevPAR compared to 2019.

Sotherly Hotels reported preliminary operating results for 1Q23 for their 10 wholly-owned properties. RevPAR was up 21.4% led by an 11.4% jump in occupancy. Tighter budgets, busy airports, and soaring prices are prompting a more frugal tourist to return . Even high-end travelers are pulling back on their vacation spending, Bloomberg reported. Lightstone announced the April 12 debut of the 37-story, 727-key Moxy & AC Hotels Downtown Los Angeles.

Kimpton’s first-ever resort in the Western Caribbean is officially opening this summer, with the debut of the new Kimpton Grand Roatan in the Bay Islands of Honduras . According to The Wall Street Journal,  Goldman Sachs  is investing between 150 million and 200 million euros in  three seaside resorts  in the northern region of  Halkidiki . Key International  completed the purchase of  The Perry Hotel  on the waterfront in  Key West, FL  as part of an ambitious expansion of its $2 billion portfolio.

Baird lowered their price target on Wyndham Hotels & Resorts to $86 from $88 while maintaining their Outperform rating. Barclays cut their rating on Hyatt Hotels to Equal Weight from Overweight. They cut their price target to $125 from $130. They upped Hilton to an Overweight rating from Equal Weight. Travel + Leisure Co . announced their upped their quarterly dividend per share to $0.45 per share from $0.40.

The D JIA was up 36 points, Nasdaq was down 116, the S&P 500 fell 24 points and the 10 year treasury yield is knocking on the door of 4%, up .05 to 3.94%. Truist Securities reported on investor meetings they held with Playa Hotels & Resorts management. Demand trends were among the most discussed topics but management saying business on the books looks great, reiterating the strength of demand . Pacifica Hotels announced the $32.9 million purchase of the Kimpton Hotel Vintage Portland .

The DJIA surged 515 points, Nasdaq was up 361, the S&P 500 was up 88 and suddenly the 10 year treasury yield is calm and the indexes are nuts again. STR said US Lodging RevPAR was up 12.2% year over year for the week ended 8/6. Global travel prices are predicted to continue to increase in the remaining months of 2022 and throughout 2023, according to the 2023 Global Business Travel Forecast.