Scotland

North America

Wyndham Beats First-Quarter Expectations

Wyndham Hotels & Resorts’ first quarter results exceeded expectations, with stock buybacks increasing despite a hostile bid from Choice Hotels, maintaining a record growth pipeline for the 15th consecutive quarter.
North America

Accor Reveals European Portfolio Growth

STR reported a 3.3% increase in U.S. Hotel RevPAR, led by a 4.5% rise in ADR and a 5.1% increase in Group RevPAR. Deutsche Bank provided a cautious 2024 outlook for the hotel industry, highlighting a balanced risk-reward scenario with potential bull and bear cases. Keybanc reduced their price target on Xenia Hotels & Resorts, while Truist offered a differing view on Airbnb compared to Barclays.
North America

IHG Brings Wonderland Experience to Select Hotels

Park Hotels & Resorts announced a quarterly cash dividend of $0.15 and a special top-off dividend of $0.78, totaling nearly $635 million returned to shareholders in 2023. R New and renovated Holiday Inn properties opened in Mansfield, Ohio, and Milwaukee, Wisconsin. LuxUrban Hotels signed agreements to operate two New York City hotels.
North America

Global Deal Announcement Slowed in First 9 Months of 2023

U.S. hotel RevPAR rose by 4.9% for the week, with rates up by 4%. Group RevPAR also increased by 13.3%. Truist adjusted ratings and target prices: lowered ratings for some companies (e.g., Bluegreen Vacations), raised target price for Bluegreen Vacations, and decreased target prices for Hilton Grand Vacation, TNL, and VAC. A significant decline in deals across travel and tourism sectors globally during January-October 2023 compared to the same period in 2022, affecting various regions and deal types.
North America

Kempinski Debuts in North America

Morgan Stanley adjusted price targets for several hotel companies, maintaining Overweight ratings for Hyatt, Hilton, Marriott, and Wyndham, but lowered the price target for Park Hotels. They also raised the price target for Choice Hotels and maintained an Underweight rating on Pebblebrook Hotel Trust. Marcus Hotels & Resorts’ new Chief Investment Officer, Tiffany Leadbetter Donato, aims to expand the company’s hotel portfolio beyond the Midwest for greater geographic and customer diversity. Hotel del Coronado, part of Curio Collection by Hilton, is investing over $160 million to restore and revitalize its historic Victorian building in Coronado, California, with a target completion date in Spring 2025.
North America

Choice Hotels Buys Back Stock and Boosts Dividend

Choice Hotels International reported solid 1Q results, better than expectations. In the good old days, when stocks actually moved up and down based on fundamentals. Deutsche Bank upped their target price on Ryman Hospitality to $128 from $126 and reiterated their Buy rating. The Four Seasons Hotel Boston has reopened following the completion of a dramatic design update of its arrival area, lobby and port cochere.
North America

Host Hotels’ Sparkling Balance Sheet

The earnings calendar accelerated in both the REIT and C-Corp section in the past 24 hours. Hyatt received the most attention with a clean beat but then some concerns creeping in. Host Hotels had a lousy two days to issue a great report with a clean and positive beat and raise. Summit Hotels came in just under consensus even with a strong top-line performance as higher hotel-level expenses hurt results.
North America

U.S. Rates Are Higher But Not Back to 2019

Airbnb saw its rating cut at Baird to Neutral from Outperform. Baird lowered their price target to $100 from $120. The U.S hotel industry reported higher performance from the month prior but weakened comparisons with 2019 , according to October 2022 data from STR . Through Q3 2022 , the U.S. hotel industry exceeded 2019 RevPAR levels by 6.4%, based on data from STR.
North America

International Tourist Arrivals Triple YoY

The DJIA fell 347 points while Nasdaq was down 75, the S&P 500 fell 39 points and the 10-year treasury yield was up .07 to 3.83% STR said US hotel RevPAR the week ending 10/1 was up 22.6% year over year , helped by Hurricane Ian and the holiday shift. According to the latest UNWTO World Tourism Barometer , international tourist arrivals almost tripled from January to July 2022 (+172%) compared to the same period in 2021