Houston

North America

Marriott to Expand Apartments by Marriott Bonvoy

Marriott International, Inc. announced plans to further expand its new Apartments by Marriott Bonvoy brand offering with signed agreements in the United States, Italy, and the Kingdom of Saudi Arabia.
North America

U.S. Hotels See Best Rates and Occupancy Since 2019

The DJIA ended Friday with a gain of 395 points, while NASDAQ was up 255, the S&P 500 rose 59 points and the 10-year treasury yield ticked up a little to 4.15%. Lodging stocks were mostly…
North America

Major Brands Acquiring Key Properties

Apple Hospitality REIT declared a regular monthly cash dividend and a special distribution. Bluegreen Vacation Holdings’ acquisition by Hilton Grand Vacations moved forward with the expiration of the waiting period under the Hart-Scott-Rodino Act. Several new hotel openings and acquisitions were announced, including AC Hotels by Marriott in Naples, Moxy by Marriott in Houston, IHG’s first Garner hotel, and Choice Hotels International’s 100th Suburban Studios hotel.
North America

JP Morgan Re-Ranks Many Hotel Stocks

JP Morgan upgraded Choice Hotels to Neutral and shifted Host Hotels, Park Hotels, Ryman Hospitality, and Sunstone Hotels to Neutral, citing less downside in lodging REITs. CoStar forecasts U.S. hotel demand growth of 1.8% in 2024, with occupancy increasing by 1% and room rate growth aligning with inflation, leading to RevPAR growth of 4.8% this year and 4% in 2024. Barclays shifted to Equal Weight on Marriott Vacations, expressing uncertainty in company-specific execution and favoring Hilton Grand Vacations in the timeshare sector.
North America

Hilton Unveils Plans for Luxury Hotels in 2024

Wells Fargo downgraded Sunstone Hotels and revised DiamondRock Hospitality and Apple Hospitality’s ratings. According to the National Travel and Tourism Office, international visitors to the U.S. in October 2023 spent $18.9 billion, marking a 23% increase from the previous year. In 2024, Hilton’s luxury portfolio, inclusive of Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts and LXR Hotels & Resorts will announce offerings that will provide guests with new brand signatures.
North America

Choice Hotels’ Latest Step in Its Quest to Acquire Wyndham

Barron’s recommended investing in travel stocks like Hilton and Marriott for business travel and Choice Hotels is still planning a takeover of Wyndham Hotels & Resorts. There is a new distribution agreement between Choice Hotels EMEA and Sercotel, the potential sale of Travelodge hotels by LXI REIT, and new hotel developments and refinancing deals in the UK and Europe. Significant strategic actions in the hotel industry include Choice Hotels’ intent to nominate directors to Wyndham Hotels & Resorts’ board amidst an $8 billion takeover battle.
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

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

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.