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Investors are concerned as Travel + Leisure Co. and Red Rock Resorts reported modest or solid earnings but saw stock declines, reflecting nervousness and a shoot-first-ask-later mentality on Wall Street.

Marriott unveils renovations at Courtyard by Marriott Nashville Downtown and new Palmetto Marriott Resort & Spa, while Kimpton celebrates the grand opening of its first hotel in Budapest.

Hilton's expansion in Canada includes nearly 20 deals signed in 2023, with plans to introduce Spark by Hilton and Motto by Hilton in 2024 – aiming to surpass 200 hotels.

A new report for 2023 shows 85% of markets with RevPAR higher than 2019. In terms of top-line performance, that means most markets have recovered from the significant declines caused by the pandemic.

Choice Hotels International purchased more shares in Wyndham Hotels & Resorts in its unsolicited exchange offer to acquire the company. The Baird/STR Hotel Stock Index rose 9.3% in November, with the Hotel REIT sub-index up 7.6% year-to-date and the Hotel Brand sub-index up 30.6% year-over-year. BCD Travel forecasts a global decrease in airfares and a 6.8% increase in hotel rates in 2024.

Wells Fargo initiated coverage on Hyatt, Hilton, and Marriott, favoring operators targeting group and high-end travel, with strong growth outlooks and reasonable valuations. They predict a 3%-4% RevPAR growth in 2024. Accor added Hotel Andra Seattle to its portfolio and plans for new MGallery properties. International tourism is nearing pre-pandemic levels, with a 38% increase in travelers in 2023 compared to 2022. The Middle East leads the recovery, while Europe, Africa, and the Americas show significant improvement.

Market Update: DJIA up 270 points, S&P 500 rose 23 points, Nasdaq remained flat, and 10-year treasury yield jumped to 3.85%. Lodging Industry News: STR reported a slight decline in hotel RevPAR , but a 12% increase compared to the same week in 2019. Hotel Renovations and Openings: StepStone Hospitality completed a $3.5 million renovation at Fairfield Orlando I-Drive Convention Center, and The Ritz-Carlton Naples reopens after extensive renovations with new amenities and redesigned rooms.

Hotel industry updates: Canadian hotel RevPAR exceeds C$100 for third consecutive month, with Manitoba and Vancouver leading in occupancy rates. Renovations and expansions: Knoxville, Tennessee plans to add 350 hotel rooms, while a $12 million extended-stay hotel is set to open in Maryland Heights, Missouri. Company announcements: Hyatt Place Melbourne Airport opens in Florida, while LVMH scraps luxury hotel plans in Beverly Hills.

The DJIA fell 0.73% while Nasdaq was down 1%, the S&P 500 fell 0.88% and the 10-year treasury yield was roughly flat at 3.671%. Hilton checked nearly all the boxes with their earnings report, kicking off lodging earnings season with a bang . InterContinental Hotels Group PLC is seeking to fend off claims from franchisees five months after a cyber attack that hotel owners say cost them money and disrupted business.

Wyndham and Hilton kicked off the lodging earnings season, both with solid reports. It was an interesting day with the DJIA up 3 points but Nasdaq down 228. Don’t you love earnings season? Meanwhile, hotel RevPAR for the week ended 10/22 was up 27.8%, according to STR .