South Carolina

Truist gave their observations on the latest forward-looking booking and pricing trends for US hotels and checks with contacts. STR’s global “bubble chart” update through November 19, 2022 showed the strongest performance of the year thus far. The U.S. Travel Association’s latest biannual travel forecast shows a downgrade in international inbound travel for the remainder of this year and for 2023.

Hyatt Hotels Corporation and Dream Hotel Group announced an agreement for a Hyatt affiliate to acquire Dream Hotel Group’s lifestyle hotel brand and management platform. Hyatt Hotels Corporation announced the opening of Rancho Pescadero , the first Hyatt branded luxury resort to debut in Todos Santos in Mexico . The Westin Hilton Head Island Resort & Spa , located in South Carolina , has embarked on a $10 million renovation.

We may be seeing a short week slowdown already starting in the financial markets. Lodging stocks were modestly lower. Deutsche Bank 's  Gaming, Lodging, Leisure & Restaurant Conference 'soverarching chorus was stability in trends and company outlooks. Pebblebrook Hotel Trust , in their monthly update, referenced that the end of October brought a return of seasonality.

Lodging stocks were mostly lower. SOND was up 6% but that was pretty much it for any type of positive movement.  MCG fell another -11%, SLNA was down -7%, SOHO and ABNB both fell -5%. JP Morgan lowered their rating on Membership Collective Group to Neutral from Overweight. JPM said their downgraded was based on MGC’s exposure to Europe. Los Cabos Tourism Board announced unprecedented growth in tourism arrivals is expected by the end of 2022 with more than 3.3 million visitors.

The DJIA rose 334 points, Nasdaq was up 52, the S&P 500 rose 21 points and the 10 year treasury yield was down .09 to 4.13%. Apple Hospitality reported a modest beat with RevPAR up 7.5% versus 3Q19. In September and October APLE bought back a modest amount of stock just above $14 a share. Sunstone Hotel Investors reported a slight 3Q beat. SHO continues to be a buyer of their own stock under $10.

Lodging stocks were mixed. Choice (CHH) was the big loser, down -9%, while MCG was down -7% and AINC fell -6%. Choice Hotels received a mixed response to their 3Q earnings report from analysts and a big thumbs down from investors. Hilton announced the opening of its two-hundredth hotel in the Caribbean and Latin America, Waldorf Astoria Cancun , a 173-room luxury resort set on 100 acres of coastline.

Lodging stocks were down before the Fed decision to raise interest rates by another 75 basis points and conference call but the selling accelerated after, led by the REITs, not surprisingly. Investors did not take the earnings reports from Airbnb, Ashford Hospitality Trust or Xenia Hotels & Resorts very well. Meanwhile STR reported for the week ended 10/29, US hotel RevPAR was up 33.5% year over year.

The DJIA surged 749 points on Friday while Nasdaq was up 245, the S&P 500 rose 87 points and the 10 year treasury yield was down .01 to 4.21%. Lodging stocks were modestly higher. According to September 2022 data from STR , Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the third quarter. IHG Hotels & Resorts reported a good 3Q, with RevPAR up 28% year over year and up 2.7% from 3Q19. The problem is they also announced Paul Edgecliffe-Johnson is leaving his CFO position.

The DJIA was up 338 points while Nasdaq was up 97, the S&P 500 was up 42 points, while the 10-year treasury yield was down nearly .02 to 4.00%. Evercore ISI Group upped its rating on DiamondRock Hospitality to Outperform from In-Line. US Travel’s latest Business Travel Tracker finds American companies increasingly paring back pandemic-era restrictions on business travel

The  DJIA  surged 765 points while  Nasdaq  was up 234, the  S&P 500  rose 90 points and the 10 year treasury yield was down .15 to 3.66%. Raymond James  reported on  hotels impacted by Hurricane Ian ’s decimation of southwest Florida. While Tampa Bay dodged the bullet, Sarasota all the way down took a hit led by Naples, Fort Myers, Sanibel, Captiva, Boca Grande, Venice and Punta Gorda. Aimbridge Hospitality  announces its  international division , Interstate Hotel & Resorts has launched its new corporate identity, formally debuting as the Aimbridge EMEA division.