New York City

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.

Truist lowered their price target on Park Hotels & Resorts to $19 from $20 while maintaining their Buy rating. BRE Hotels & Resorts and The Ritz-Carlton, Kapalua are celebrating the recent success of the property following a $100 million transformation. The iconic Fairmont Hotel in downtown Vancouver, Canada, is looking to expand with an annex tower, but it will not provide any additional hotel rooms.

Wyndham Hotels & Resorts Inc . upped their quarterly dividend by 9%, announcing a quarterly cash dividend of $0.35 per share up from the $0.32 a share quarterly dividend they paid during 2022. CoStar said that most Lodging Industry Investment Council members expect full-year lodging real estate transactions in 2023 to exceed the volume in 2022. A joint venture of NewcrestImage and Hospitality Capital Partners completed the acquisition of 11 hotels in seven states with a total of 1,551 rooms.

Lodging stocks were mixed but the big movers were all to the downside. SLNA traded down another -7% to another all-time low. VCSA and MCG were both down -6%. Service Properties Trust kept its positive momentum going, reporting a 159% increase in normalized FFO in 4Q22. Xenia Hotels & Resorts reported 4Q results slightly ahead of expectations but gave a mixed 2023 outlook.

The biggest surprise of this earnings season is how bullish analysts seem to be coming out of it. Lodging Econometrics released its Q4 year-end Global Construction Pipeline Trend Report . At the close of 2022, LE analysts state that the total global construction pipeline stands at 14,267 projects with 2,298,846 rooms. The 473-room, La Concha Resort , in San Juan, Puerto Rico, has joined Marriott International’s Autograph Collection .

Lodging stocks were mostly lower on Friday. PLYA bucked the trend with an 8% gain on stronger-than-expected earnings. SOND was down another -8%, VCSA fell -7% and SLNA traded down to yet another new all-time low. Besides Playa Hotels’ strong results, Ryman Hospitality Properties took part in the winding down of earnings season with results that were better than their December update. HRI Hospitality announced the topping out of its new hotel project, Tempo by Hilton Nashville Downtown .

The earnings parade continues with REITs dominating the past 24 hours. PebbleBrook Hotel Trust reported 4Q results that matched their pre-announcement but gave 1Q guidance that was softer than expected. Sunstone Hotel Investors results came in slightly ahead for 4Q with an extra $10 million insurance gain also put in there. Park Hotels reported strong results even with San Francisco continued weakness. PK said group revenue is back to 83% of pre-pandemic levels.

Lodging stocks were lower: There was only one mover of note, SLNA with a -6% drop getting near an all-time low today, but there was a sea of red on the screen today. DiamondRock Hospitality reported a solid 4Q. DRH had given preliminary results in January but still beat expectations even with comparable RevPAR below consensus as margins made up the difference. IHG reported a good quarter but the highlight was the announcement of a $750 million share buyback for 2023

Lodging stocks were higher. ABNB led the group with a 7% rise while MCG was up 5%. Raymond James upped their price target on Hilton to $165 from $150. They maintained their Outperform rating. Ian Schrager and Ed Sheetz have stepped in to possibly partner with Chetrit Group , to rescue its landmark Bossert Hotel , located in Brooklyn Heights, New York.

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.