Pennsylvania

The Americas is the only region to show an increase in hotel construction and development activity in the first quarter of 2024, contrasting with declines or slower growth in Europe, Asia Pacific, and the Middle East and Africa.

Las Vegas saw a significant tourism and economic boost in 2023, highlighted by a surge in convention attendance, international visitors, and major events like the Las Vegas Grand Prix and the Super Bowl.

The Fed Chief made it pretty clear there will be no interest rates lowered for some time and the markets seemed to like the certainty.

Barclays updated their U.S. lodging REIT estimates ahead of the onslaught of expected conservative earnings that are coming.

Accor will open 100 luxury and lifestyle hotels by 2025, with plans to sign at least 50 more projects per year.

Extended Stay America announced its growth outlook through franchising, following the momentum from a strong year of milestones, including 20% growth of its franchise portfolio across its family of brands.

Truist met with Wyndham and Choice franchisees who had strong opinions about the merger and broad frustrations about brand costs and property valuation in limited service today.

In 2024, the company’s expansion plans include an initial goal of opening more than twenty hotels and continuing to sign as many new projects.

The  DJIA  fell 285 points,  Nasdaq  was down 174, the  S&P 500  fell 38 points, and the 10-year treasury yield was down nearly .10 to 3.91%. Let’s hope the first two trading days do not represent the rest of the year. STR’s  global “bubble chart” update through December 16, 2023 showed 75% of markets with growth in RevPAR compared to 2019. Could there be a hotel building moratorium in one of the most popular areas of Southern Florida?

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.