New Orleans

Following a decade of historic growth, NYC hotel supply is expected to grow at an average annual rate of 1.6% over the next three years.

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.

The DJIA ended Friday with a gain of 395 points, while NASDAQ was up 255, the S&P 500 rose 59 points and the 10-year treasury yield ticked up a little to 4.15%. Lodging stocks were mostly…

Home2 Suites by Hilton announced its newest property, Home2 Suites by Hilton Phoenix Downtown.

Hilton announced LivSmart Studios by Hilton is the official name of its new studio apartment-style, extended-stay hotel brand. LivSmart Studios already has more that 350 deals in various stages of negotiation.

JP Morgan upgraded Choice Hotels to Neutral and shifted Host Hotels, Park Hotels, Ryman Hospitality, and Sunstone Hotels to Neutral, citing less downside in lodging REITs. CoStar forecasts U.S. hotel demand growth of 1.8% in 2024, with occupancy increasing by 1% and room rate growth aligning with inflation, leading to RevPAR growth of 4.8% this year and 4% in 2024. Barclays shifted to Equal Weight on Marriott Vacations, expressing uncertainty in company-specific execution and favoring Hilton Grand Vacations in the timeshare sector.

Major hospitality companies reported mixed trends at the Morgan Stanley Global Consumer & Retail Conference, with lodging demand remaining positive but margins affected by high wages. Several companies, including Crescent Hotels & Resorts and HHM Hotels, announced the addition of new properties to their portfolios. Evermore Orlando Resort is set to open a unique beach paradise, and other hotels are undergoing significant renovations and refurbishments, indicating a continued focus on luxury and expansion in the hospitality industry.

JP Morgan downgraded IHG Hotels & Resorts from Neutral to Underweight, favoring Premier Inn owner Whitbread in the European hotels sector. Canada has 275 hotel construction projects with 37,780 rooms in its pipeline, with 22 new projects announced in Q3. Ontario leads with 160 projects, and Toronto has the most projects with 61. A total of 16 new hotels opened in the first three quarters of 2023, with more expected in the last quarter and beyond. The latest GBTA Business Travel Outlook Poll reports that domestic business travel bookings have reached 75% of 2019 levels, while international bookings are at 70%. Spending on domestic business travel is at 77%, and international spend is at 74%.

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.

Truist expects strong international and group earnings in 3Q lodging reports but weak domestic leisure. CoStar reports higher hotel performance in September 2023, with New York City leading in occupancy. Several hotel transactions and developments are mentioned, including Omni Pontoque Resort and Alt Hotel Calgary University District.