Massachusetts

North America

Nearly 75% of Americans Plan to Maintain or Increase Hotel Stays in 2024

Almost three quarters of Americans plan to either maintain or increase their number of hotel stays in 2024 compared to 2023, and hotels remain the top lodging choice for likely travelers, according to a survey commissioned by the American Hotel & Lodging Association.
North America

Accor to Expand Luxury and Lifestyle Brands

As 2024 begins to unfold, Accor is continuing to expand the brands within its Luxury & Lifestyle division to meet the world’s accelerating demand for high-end and culturally relevant travel experiences.
North America

Hilton Launches Hilton for Business

Hilton debuted Hilton for Business, a new, digital-forward travel program empowering professionals running small- and medium-sized businesses to simplify travel management while enhancing rewards and discounts for their loyalty.
North America

Wells Fargo Expects Hotels Exposed to Group and Leisure to Thrive in 2024

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.
North America

U.S. Average Daily Rates Continue Increase

The  DJIA  fell 285 points,  Nasdaq  was down 174, the  S&P 500  fell 38 points, and the 10-year treasury yield was down nearly .10 to 3.91%. Let’s hope the first two trading days do not represent the rest of the year. STR’s  global “bubble chart” update through December 16, 2023 showed 75% of markets with growth in RevPAR compared to 2019. Could there be a hotel building moratorium in one of the most popular areas of Southern Florida?
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

Sonder Announces Reverse Split, Hopes to Stay on Nasdaq

Sonder Holdings announces a 1 for 20 reverse split to maintain its Nasdaq listing, with Selina also considering a reverse split. STR reports US hotel data with a slight increase in US hotel RevPAR but a decrease in Group RevPAR for the week ending 9/16. Various hotel acquisitions and developments are underway, including Omni Hotels & Resorts in Raleigh, Travel + Leisure Co.’s sports-themed resorts, Life House in Palm Springs, and more.
North America

KSL to Take Hersha Hospitality Private in $1.4 Billion Deal

DJIA gained 213 points, Nasdaq increased by 114 points, and S&P 500 rose 28 points; 10-year treasury yield decreased by 0.03 to 4.21%. Lodging stocks surged on Hersha Hospitality buyout news, particularly REITs: HT up 56%, BHR up 16%, AHT up 10%, others up 6% each, while AINC traded down -9%. Hersha Hospitality Trust and KSL Capital Partners will merge in an all-cash deal worth $1.4 billion, where common shareholders receive $10.00 per share and preferred shareholders receive varying amounts based on their holdings. The merger aims to close in Q4 2023, leading to a rally in hotel REIT stocks. Major US and Chinese hotel groups have strengthened post-pandemic, while Europe lags behind. Marriott, Jin Jiang, and Hilton lead the world hotel ranking, with only one European representative (Accor). US has six companies in top 10, China has three, and Spanish companies see shifts in their rankings.
North America

IHG Launches New Brand Garner

Market Performance: DJIA, Nasdaq, and S&P 500 experienced declines while the 10-year treasury yield increased. Lodging stocks showed mixed to modestly lower results. BHR traded down to a new low. Hotel Investment Insights: Baird reported on meetings with Xenia Hotels & Resorts’ management, highlighting patience required due to leisure trends and Scottsdale renovation disruption. S&P upgraded XHR’s ratings based on improved RevPAR and EBITDA outlook. Industry Developments: Hilton plans automatic housekeeping, Courtyard Wichita completes renovation, District Hospitality Partners acquires Westin Annapolis, Cascade Hotel Kansas City to open, Aimbridge to manage Marriott properties, Hyatt introduces Hyatt Studios brand, IHG launches midscale brand Garner, various expansion and renovation projects noted.