Missouri

North America

Apple Hospitality and Xenia Hotels Beat Expectations

Apple Hospitality and Xenia Hotels were the next up to report earnings. APLE beat expectations and continues to be one of the few hotel REITs reporting EBITDA above 2019 levels. XHR also beat expectations on a higher top line with RevPAR growth of 23.9%. STR reported US lodging data for the week ended April 29. Year over year hotel RevPAR was up 5.6%.
North America

Acquisitions by Noble Investment Group and Bluegreen Vacations

The stock market experienced a decrease, with the Dow Jones Hotel & Lodging REITs Index down 2.3%. There were several hotel acquisitions, renovations, and new developments announced. There were also announcements of management changes, upgrades, and technology acquisitions in the hospitality industry.
North America

The Strong State of U.S. Hotels

CBRE released its US Hotels State of the Union March 2023 Edition . Key takeaways include February marked nine consecutive months of easing inflation. Baird said that with industry wide March RevPAR being better than expected, it de-risked 1Q23 earnings a bit, and the trade is likely higher into the earnings prints. Jefferies said they continue to believe Host Hotels is best-positioned among peers to generate growth and expanding cash flows irrespective of macro challenges and has yet to receive valuation credit.
North America

NewcrestImage Plans to Acquire 100+ Hotels This Year

NewcrestImage has plans to acquire more than 100 hotels this year , reported CoStar. So far in 2023, the company has finalized its purchase of a 45-hotel portfolio in 11 states. Key International and Shaner Hotels announced the grand opening of the 156-suite SpringHill Suites by Marriott Jacksonville Beach Oceanfront in Florida . Midas Hospitality announced the opening of the 170-room Residence Inn by Marriott , the first hotel to be built in Clayton, Missouri, in 30 years.
North America

Club Med to Shift Upmarket

Club Med said it was beginning a new chapter. Taking inspiration from the original Club Med philosophy, creating simple moments of happiness, the lifestyle brand will be providing a more premium, family-friendly and eco-conscious experience. Deutsche Bank initiated coverage on Wyndham Hotels & Resorts with a Buy rating and $79 price target. STR reported US lodging data for the week ended April 1. US hotel RevPAR was up 10.9% year over year.
North America

Hilton’s Plans to Double Its Portfolio in Puerto Rico

Hilton announces plans to double its hotel portfolio in Puerto Rico by 2027, with the addition of seven new properties. The expansion will create around 2,100 new jobs and contribute to the island’s economic recovery following the devastation caused by Hurricane Maria in 2017. Hilton’s investment in Puerto Rico’s tourism industry is a sign of the company’s confidence in the island’s potential as a destination for both leisure and business travelers.
North America

U.S. Interest Rate Increase Pushes Lodging Stocks Lower

STR gave U.S. lodging data for the week ended 3/18. US hotel RevPAR rose 10.4% year over year. When compared with the same week in 2019, US hotel RevPAR was up 20.8%. We can’t tell if the markets genuinely hate U.S. Fed Chief Jerome Powell or if the guy should just have a stand-in for his press conferences. Redburn Partners lowered its rating on InterContinental Hotels Group to Sell. UBS Group downgraded shares of Melia Hotels International from a Buy rating to a Sell rating.
North America

Shrugging Off the Fed, Hotels Put Heads in Beds

voco hotels celebrated 100 properties signed and opened globally. The emerging IHG Hotels & Resorts’ brand reached the milestone in just five years after its first-ever hotel opening. Island Hospitality Management announced the company added 14 hotels to its third-party management portfolio during 2022. Moxy Williamsburg debuted today as the brand’s first hotel in Brooklyn, New York.
North America

Baird’s 2023 REIT Outlook Is Cautious

Lodging stocks were higher with the only big mover of note once again being AHT, up another 6%. Baird gave their 2023 Hotel REIT outlook saying they are taking a more balanced approach in early 2023 as macroeconomic risks and growing expense pressures keep them selective. STR announced U.S. lodging data for the week ended January 7th. Year over year RevPAR was up 21.8% on easy comps due to holiday/school timing and the Omicron outbreak last year.
North America

Chatham Lodging Trust and Park Hotels Restore Their Dividends

Chatham Lodging Trust announced its board of trustees reinstated their common dividend, announcing a fourth-quarter common share dividend of $0.07 per common share. Park Hotels & Resorts announced a $0.25 per share fourth-quarter cash dividend. $0.12 per share of that represents the fourth quarter payment based on 2022 results. Lodging stocks were modestly higher. The only big mover of note was MCG , up 8%.