Mississippi

North America

Price of U.S. Hotels Shows Strength in Most Regions

The DJIA rose 208 points while Nasdaq was down 203, the S&P 500 fell 46 points and the 10-year treasury yield was down .02 to 3.65%. STR reported US lodging RevPAR for the week ended February 4. RevPAR was up 26.6% year over year. When compared with the same week in 2019, RevPAR was up 6.1%. Three historic buildings in downtown Cincinnati, Ohio will soon become a hotel when combined with a newly built seven-story tower.
North America

Spark by Hilton Is a Conversion Favorite

BofA Securities initiated coverage on Marriott Vacations with a Neutral rating and a $180 price target. The Wall Street Journal published an article on how hotel companies are stepping up efforts to lure competitors’ hotels to their own brands. The article referenced Hilton’s new Spark by Hilton brand. We had heard those concerns about upcoming maturities from Service Properties Trust when we were positive about their resumption of the previous dividend, giving them an 11% yield at the time.
North America

Commonwealth Hotels Acquires 2 Houston Properties

Overall, stocks gave back most of their pre-market gains. Lodging stocks wound up mixed on the day. Commonwealth Hotels acquired the 120-suite Residence Inn Houston-West University and the 100-room Courtyard by Marriott Houston-West University. Aimbridge Hospitality announced the expansion of its portfolio with the addition of three extended stay properties recently acquired by Three Wall Capital, LLC.
North America

U.S. Hotel RevPAR Tops 2019 for Week Ending 11/19

STR reported US lodging data for the week ended 11/19. US hotel RevPAR was up 20.1% year over year while up 19.3% for the same week in 2019. Following weeks of preliminary groundwork, construction has finally begun on the new Moxy Asheville - North Carolina’s first Moxy Hotel. Hilton Worldwide Holdings Inc . is partnering with Proof & Co.’s beverage consultancy arm to revamp the bar experience at all of its Waldorf Astoria properties.
North America

Hilton Grand Vacations' Quarterly Earnings Beat Rivals

Hilton Grand Vacations clearly had the best report of the timeshare group with their 3Q results, with a solid beat of estimates. STR reported US hotel RevPAR rose 21.1% year over year for the week ended 11/5. JLL’s Hotels & Hospitality Group released its second annual Hotels Global Asset Management Report outlining tips for profitability and minimizing operational risks.
North America

Hotel Business Has Returned to Pre-Pandemic Levels

The  DJIA was up 193, Nasdaq was up 70, the S&P 500 was up 26 points and the 10-year treasury yield was up .03 to 3.29%. According to the D.C. Office of the Chief Financial Officer, the hotel industry in Washington, D.C. , has largely returned to pre-pandemic business and most of that bounce back has come only in recent months. Accor and SHe Travel Club announced a partnership aiming to re-imagine the female travel and hospitality experience.
North America

RevPAR Tracker Sees No Recession-Driven Pullbacks

The DJIA was up 436 points, Nasdaq was up 247, the S&P 500 was up 72 points and the 10-year treasury yield was down .08 to 3.27%. Truist Securities published their RevPAR tracker, saying based on their analysis, they have yet to observe any “recession-driven” pullbacks and see the greatest degree of booking and pricing momentum coming from the corporate group segment. Hotels in the top 25 markets across the U.S. were the hardest hit by the pandemic-induced demand downturn but have come back with a vengeance.