Miami

Crescent Real Estate acquired the Element Orlando Universal Boulevard hotel, and the Delta Hotel in Wichita Falls, Texas, opened. Various hotel acquisitions and rebranding activities occurred, including the purchase of Hilton-branded hotels in New York, rebranding of properties as Trademark Collection by Wyndham, and the addition of Arlo Williamsburg to the Arlo Hotels portfolio. A $1.5 billion development plan for the Tennessee Titan's domed stadium area was announced, including a 40-story hotel, apartments, and retail spaces, with construction set to begin in 2025.

Financial markets showed mixed performance with the DJIA, Nasdaq, and S&P 500 rising while the 10-year treasury yield also increased. JP Morgan expressed optimism about Hyatt's future, anticipating growth in RevPAR and an asset-light business model. Various hotel-related developments were reported, including property sales, renovations, and new openings, with several companies expanding their portfolios.

Marriott is planning a new Residence Inn in Cary, North Carolina, featuring 122 guestrooms, meeting facilities, and various amenities. Hilton has opened Motto by Hilton New York City Times Square, marking the second Motto by Hilton brand in the city and the sixth Motto by Hilton overall. IHG Hotels & Resorts has celebrated the opening of a new Holiday Inn property in South Philadelphia after a $10 million conversion, marking their first IHG-banded property in the area.

Market Movement:DJIA up 26, Nasdaq down 26, S&P 500 down 1, 10-year treasury yield down to 4.25%. Selina Hospitality Woes:Selina Hospitality's stock plunged 41%, facing financial struggles and a revised SEC prospectus. Other lodging stocks also hit new lows. Hotel Industry Highlights: Airbnb's price target raised to $110 by Morgan Stanley. American Hotel & Lodging Association praised new federal travel rates. Blackstone sold three hotels for $64.3 million. Various hotel developments and renovations announced. Hotel La Jolla undergoes $8M renovation. David Meisner rejoins White Lodging as Regional VP.

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.

Demolition of Tahoe Biltmore Lodge to make way for Waldorf Astoria Lake Tahoe. Several new hotel openings and renovations announced across the U.S., including projects in Palm Beach, Milwaukee, Crowley, and Southwest Mesa. STR and Tourism Economics adjusted their 2023-24 U.S. hotel forecast, with a noted global ADR increase in 2022. Truist revised its target price for VAC but retained its Buy rating. Truist reduced its target price for VAC to $190 from $219 due to Marriott Vacations' subpar quarterly outcomes and revised guidance, yet kept a Buy rating.

Major stock indexes and several lodging stocks experienced declines. Service Properties Trust signaled a shift away from hotel acquisitions after buying the Nautilus Hotel in Miami. New hotels opened in Cincinnati , Yuba City , Orange , TX, and Pennsylvania . Notable construction and restoration projects are underway in Houston, Hastings, and Longmont. Several properties announced upcoming renovations or management changes. RobertDouglas managed a $60 million sale of three properties; Cronheim Hotel Capital refinanced Hotel Phillips in Kansas City. Key personnel changes occurred at Valor Hospitality Partners and the Rosewood Hotel Group .

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 indices, including DJIA, Nasdaq, and S&P 500, experienced declines on Friday, with the 10-year treasury yield also dropping notably. Some lodging companies reported mixed earnings, with Apple Hospitality , RLJ , and Sunstone Hotel Investors beating expectations, while DiamondRock Hospitality and Playa Hotels missed estimates. Several hotel chains, including Wyndham Hotels & Resorts and LuxUrban Hotels, Inc. , are making expansion deals, and various hotel properties are undergoing renovations and acquisitions in different locations.

Marriott Vacations had the worst earnings report, with a significant miss on analyst estimates and a reduced guide. Hyatt and Host Hotels also missed estimates, with Hyatt's miss tied to leisure and resort exposure. The U.S. hotel construction pipeline is active in markets like Dallas , Atlanta , Phoenix , Nashville , and Los Angeles .