Milwaukee

North America

JP Morgan States Its Q1 Hotel Performance Expectations

JP Morgan forecasts mixed 1Q24 results for the lodging sector, with slow RevPAR growth, strong net rooms growth, and moderating pipeline expansion, recommending selectiveness due to varied performance across companies.
North America

Vancouver Leads Canada’s Hotel Boom

Canada is seeing a surge of hotel construction in major cities, with Vancouver leading the way in new building applications. It is now seen as the most attractive bet by analysts because it leads the way in hotel profits and occupancy, which was almost 80% in October.
North America

Margaritaville Announces Plans for New All-Inclusive Resort

Hilton's Curio Collection is set to reach its 150th hotel milestone by the end of 2023, with notable openings in various global locations, including Kenya, Vietnam, Monaco, Australia, and Argentina. Sun Hill Properties announced plans for a new 395-key hotel next to the Hilton Los Angeles/Universal City, aimed at accommodating the 2028 Olympics. The Marriott Sanibel Harbour Resort & Spa in Florida announced the opening of a newly transformed spa and renovated guestrooms and restaurants.
North America

Accor Forecasts Robust Revenue and Profit for 2023

PEB reported better-than-expected 3Q results, but concerns arose from their commentary about a cooling US leisure demand and a weak 4Q guidance. Accor anticipates full-year RevPAR growth of over 20%, with strong 3Q RevPAR growth in the Middle East, Africa, and Asia Pacific segments. Various hotel developments were announced, including a Marriott conversion in New Orleans, renovations in Indian Wells, a hotel sale in Boston, and plans for a new luxury brand in San Miguel de Allende, among others.
North America

Choice Hotels Makes Hostile Bid for Wyndham

Choice Hotels made an offer to acquire Wyndham Hotels and Resorts, which was rejected. The situation may lead to a proxy fight. Marriott and MGM's partnership launch delayed to early 2024 due to a cyber attack on MGM and the complexity of the integration, which includes the creation of the MGM Collection with Marriott Bonvoy. Hyatt introduces the Wellbeing Collective, offering tailored wellbeing experiences at 30+ hotels globally, with plans to expand in 2024.
North America

Florida Leads in Tourism From Abroad

DJIA down 37 points, Nasdaq up 207, S&P 500 up 30; 10-year treasury yield rises to 4.34%. Lodging stocks mixed, SLNA up 9%, BHR down -6%, VAC trades lower. Florida reports strong international visitor numbers, overseas travel up 21.8%, Canadian visitation up 81.1% in H1 2023. Florida sees 70.8 million annual visitors, leading post-pandemic recovery in overseas travelers. Grand Galvez hotel joins Marriott's Autograph Collection with elegant renovations. Aloft Chicago Schaumburg transforms former Holiday Inn into 119-room boutique hotel. IHG's Kimpton to open two boutique hotels in Mexico City. Hartsfield-Jackson Airport plans new administration building and mid-tier hotel. New hotel in Milwaukee's Deer District and upgraded Enclave at The Vendue opening in Charleston. US Real Estate Credit Holdings to purchase bankrupt Banyan Cay Resort.
North America

London, Miami and Singapore Report Record ADRs

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.
North America

Hawaii Gets a Rosewood Luxury Resort

Stock market decline: DJIA and Nasdaq both down, S&P 500 fell, causing investor anxiety due to rising interest rates. Hotel acquisitions and auctions: Apple Hospitality acquires Courtyard by Marriott in Cleveland, Sheraton Bucks County Langhorne hotel up for auction, Holiday Inn in Charleston to become Live Oak in Marriott's Tribute Portfolio. Hotel developments: Hampton Inn & Suites in Manistee near completion, Resorts World Las Vegas opens private members' club, Virgin Hotel in Dallas changes ownership, Kona Village in Hawaii opens as a Rosewood Resort.
North America

CBRE Raises Hotel Performance Forecast for 2023

STR reported US RevPAR for the week ended May 13 was down -1.3% year over year, possibly impacted by Mother’s Day timing. CBRE is again raising its forecast for hotel performance this year . The company has revised its forecast for 2023 RevPAR to $97.89, up 6.0% YOY and an increase of $0.43 from its previous forecast. Hilton announced the opening of Canopy by Hilton San Francisco SoMA .