Los Angeles

North America

New York City Leads U.S. With 2022 New Openings

According to the third quarter United States Construction Pipeline Trend Report from Lodging Econometrics , the U.S. market with the largest hotel construction pipeline by projects is Dallas . Despite down markets, lodging stocks were modestly higher even though the two biggest movers were to the downside. BWH Hotel Group announced the launch of a new extended stay brand .
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

Hurricane Ian’s Impact on Florida Hotels

The  DJIA  surged 765 points while  Nasdaq  was up 234, the  S&P 500  rose 90 points and the 10 year treasury yield was down .15 to 3.66%. Raymond James  reported on  hotels impacted by Hurricane Ian ’s decimation of southwest Florida. While Tampa Bay dodged the bullet, Sarasota all the way down took a hit led by Naples, Fort Myers, Sanibel, Captiva, Boca Grande, Venice and Punta Gorda. Aimbridge Hospitality  announces its  international division , Interstate Hotel & Resorts has launched its new corporate identity, formally debuting as the Aimbridge EMEA division.
North America

RevPAR Up 30% YoY and 13% Vs. 2019

The markets brightened their mood somewhat on Wednesday. The  DJIA rose 1.89%, Nasdaq was up 2.05%, the S&P 500 climbed 1.96% and the 10-year treasury yield had its steepest one-day drop since March 2009. STR reported US lodging data for the week ended 9/24. Hotel RevPAR was up 30.3% year over year while up 13.7% when compared with the same week in 2019. Dajia Insurance Group Co has put three hotels in the US up for sale, hoping to generate US$1.3 billion to take advantage of an expected surge in leisure travel and resort business.
North America

Lodging Stocks Hit New Lows While RevPAR Continues to Impress

The Fed Sell Off continues in the financial markets as the DJIA fell another 486 points on Friday, Nasdaq was down 199, the S&P 500 fell 65 points and the 10-year treasury yield was down .01 to 3.70%. In New York City, the Skift (parent company of this publication) conference generated a lot of headlines, the biggest one being Barry Diller of IAC once again trashing working from home. Lodging stocks are hitting new lows, while RevPAR continues to impress.
North America

July Room Rates Hit New High

According to July 2022 data from STR , the U.S. hotel industry reported record-high monthly room rates on a nominal basis. Raymond James believes the recovery in global travel still has plenty of room to run. They believe this is the earliest stage of what is set up to be a multi-year fundamental recovery in global travel. A 13-F filing from Sunstone Hotels showed Blackstone Group had taken a 4.1% stake in SHO.
North America

Hotel Acquisitions Cool in Northern California

The DJIA  rose 19 points, Nasdaq was up 27, the S&P 500 was up 10, the 10-year Treasury yield was down .01 to 2.88% and lodging stocks were higher on a calm day in the market. B.Riley Securities upped its price target on Ashford Inc to $23 from $19. Pebblebrook Hotel Trust said total revenue in July topped pre-pandemic levels for the first time since the onset of the pandemic.
North America

Choice Completes Acquisition of Radisson Hotels Americas

Choice Hotels International, Inc. has completed the acquisition of the franchise business, operations and intellectual property of Radisson Hotels Americas. Selina filed with the U.S. Securities and Exchange Commission a registration statement on Form F-4, in connection with its previously announced proposed business combination with BOA Acquisition Corp. The Gulf Coast’s first beachfront Hyatt Place hotel is now open in Panama City Beach.
North America

CBRE Says ADR Will Moderate in Second Half of Year

The equity indexes have really calmed down while treasuries get really volatile. Lodging stocks were higher. AINC was the big mover, up 11%. SMBC Nikko cut its rating on Park Hotels & Resorts to Neutral from Outperform. Its price target is $16. The CBRE Hotels Research State of the Union showcases current demand trends, as well as fundamentals by segment, location type and chain scale.
North America

Graduate Hotels Launches a Short-Term Rental Brand

The vast majority of lodging company earnings, both REIT and C-Corp , have been very positive, with the REITs being the biggest surprise. Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel , to its Latitudes: Lifestyle by Crescent collection. Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta , from affiliates of Marriott Vacations Worldwide .