Park City

North America

IHG Opposes Marriott’s City Express Trademark Bid

InterContinental Hotels Group is challenging Marriott International’s attempt to trademark City Express by Marriott, citing potential confusion with its Holiday Inn Express brand.
North America

Marriott and Hilton Embrace Dividends and Stock Buybacks

DJIA rose 391 points, Nasdaq up 277, and S&P 500 rose 68, with notable movements in lodging stocks, Hilton, and Marriott. PwC predicts economic challenges for hotels through 2024. CBRE reports mixed trends in the U.S. hotel industry, with RevPAR contraction, short-term rentals gaining market share, and outbound U.S. travelers surpassing inbound. Several hotel developments and expansions are underway, including in Banff, Nashville, and Park City. Hilton expands to Monaco, Marriott brings The Luxury Collection to Greece, and Minor Hotels debuts in Paris. Various hotel acquisitions, developments, and renovations are announced across the United States, reflecting a dynamic and evolving hospitality landscape.
North America

Canadian Hotels Enjoy Record Average Daily Rates

DJIA, Nasdaq down; S&P 500 fell; 10-year treasury yield up. Hotel Trends: Global RevPAR growth; Canada’s record ADR and RevPAR; mixed occupancy rates. Developments: Hotel expansions, renovations; Hyatt Vacation Club launch; new CEOs, brand in Croatia.
North America

Upbeat Expectations for 2023

The DJIA  rose 30 points while Nasdaq was up 86, the S&P 500 rose 13 points and the 10-year treasury yield was down .01 to 3.41%. Truist reported on a call they held with the CEO of hotelAVE . The takeaways included that they saw leisure demand start to slow in May while group and corporate recovery is now benefiting from urban and convention hotels. JP Morgan reported on meetings held with Wyndham Hotels’ CEO and SVP, IR. JPM said the meetings were generally upbeat, reflective of strong demand and pricing trends as well as steady new development and conversion signings.
North America

U.S. Lodging Stocks Are in Safe Mode

Ryman Hospitality Properties became the latest lodging REIT to reinstate something more than a token dividend. CBRE Hotels said they are raising their forecast for hotel performance on the heels of industry gains in Q2 2022 and the expectation of slightly positive GDP growth in 2023. Wolfgramm Capital has acquired the Waldorf Astoria Park City hotel in Park City, UT. The property was acquired off-market and as part of an all-cash deal.
North America

California Hotel Sales Cool Off

The DJIA fell 338 points on Friday while Nasdaq was down 154, the S&P 500 was down 43 points and the 10 year treasury yield was down .07 to 3.19%. After a record-breaking 2021 for hotel sales in California , hotel transaction have cooled off in the state in the first six months of this year. ore and more Baltimore hotels are slated to become apartments . In Downtown Baltimore, at least a half dozen hotels have closed and sold to a new owner within the past two and a half years.