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North America
U.S. Hotel Performance Stays Strong
The DJIA rose 75 points, Nasdaq was up 117, the S&P 500 gained 12 points and the 10-year treasury yield was down another .09 to 3.41%. Lodging stocks were mixed. Pebblebrook Hotel Trust gave a 1Q operating update, showing the quarter is in line with their recent guidance. Tourism to and from the U.S . has gradually recovered in 2022 without fully returning to pre-pandemic levels, according to the Commerce Department. -
North America
Disney’s Star Wars Hotel Is No Blockbuster
Walt Disney World’s Star Wars hotel has seen demand cool so dramatically that the Florida theme park giant has been forced to reduce dates during the busy Halloween, Thanksgiving and Christmas seasons. Membership Collective Group reported strong 4Q results, a profitable quarter, today STR reported U.S. lodging data for the week ended March 4. Hotel RevPAR was up 12.1% year over year for the week. -
North America
Marriott’s Executive Reshuffling
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 . -
North America
Vegas Strip Operators Accused of Price Colluding
Lodging stocks were modestly higher. The biggest movers included ABNB and SOHO both rising 5% while SONDwas down -6% on the day. Hotel Asset Value Enhancement gave their findings of the ALIS conference.Attendees believe the frustrating transaction market will change in the second half of this year and that there will be more transactions than foreclosures this year. A class-action lawsuit filed Wednesday alleges that four of the main Las Vegas Strip resort operators colluded, via data-sharing software, to artificially inflate the prices of their hotel rooms. -
North America
Baird’s 2023 REIT Outlook Is Cautious
Lodging stocks were higher with the only big mover of note once again being AHT, up another 6%. Baird gave their 2023 Hotel REIT outlook saying they are taking a more balanced approach in early 2023 as macroeconomic risks and growing expense pressures keep them selective. STR announced U.S. lodging data for the week ended January 7th. Year over year RevPAR was up 21.8% on easy comps due to holiday/school timing and the Omicron outbreak last year. -
North America
60 Percent of Americans More Likely to Stay in Hotels in 2023 Than Last Year
JP Morgan gave their 2023 lodging outlook presentation, saying they see the REITs as relative underperformers versus the C-Corps. They see Wyndham Hotels and Hyatt Hotels as relative out performers within lodging. The DJIA rose 186 points while Nasdaq was up 107, the S&P 500 rose 27 points and the 10-year treasury yield was up .10 to 3.62%. Lodging stocks were higher. Barclays said December lodging RevPAR ended on a strong note, very notable after Pebblebrook Hotel Trust’s guidance cut during the month. -
North America
Deutsche Bank Forecasts Modest Hotel Sector Growth in 2023
Lodging stocks were modestly lower. SOND fell -8%, the biggest mover in the group Friday. SLNA traded down to yet another new low. Both Hersha Hospitality Trust and Host Hotels announced special dividends. HT announced its board of trustees approved a special dividend of $0.50 per common share for the year 2022. Deutsche Ban k said 2022 was a year when the lodging recovery was swiftly realized. -
North America
IHG and Iberostar Enter Long-Term Commercial Agreement
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. -
North America
Allegiant Air Delays Opening of Florida Resort
The DJIA fell 94 points, Nasdaq was down 110, the S&P 500 fell 27 points and the 10-year treasury yield was up .01 to 3.89%. The parent of Allegiant Air said that damage from Hurricane Ian has caused the company to delay the planned opening of a resort north of Fort Myers, FL at Charlotte Harbor. Royal Investments LLC , the developer of a proposed Downtown hotel in Louisville, KY , is seeking a new tax increment financing district for the project. -
North America
Hotel Business Has Returned to Pre-Pandemic Levels
The DJIA was up 193, Nasdaq was up 70, the S&P 500 was up 26 points and the 10-year treasury yield was up .03 to 3.29%. According to the D.C. Office of the Chief Financial Officer, the hotel industry in Washington, D.C. , has largely returned to pre-pandemic business and most of that bounce back has come only in recent months. Accor and SHe Travel Club announced a partnership aiming to re-imagine the female travel and hospitality experience.