Tampa

DJIA, Nasdaq, and S&P 500 all experienced declines while the 10-year treasury yield rose to 4.32%. Lodging stocks had mixed performance. Truist updated price targets for lodging/hotel group stocks, with several adjustments both up and down. Various hotels announced renovations, expansions, and new locations, including the Westin Denver Downtown, Hyatt's growth plans, and the EV Evolution Venue Hotel in Tampa and Washington, DC.

TD Cowen increased price targets for Hilton and Marriott, maintaining Outperform ratings. U.S. international travel spending surged in July 2023, with a trade surplus of $777 million. Various hotel developments and management changes were announced, including HEI Hotels & Resorts' management of Aloft Tampa Downtown and plans for new properties in New Brunswick and Denver, as well as a significant renovation of The Olana mansion in Texas.

Truist  reported on its visit to  San Francisco  for the Visit Impact Summit. The good news is that the fall 2023 events are showing improvement. Marriott International  announced the completion of a recent redesign and renovation to the 146-room  Courtyard by Marriott Denver Central Park  in Denver, Colorado . Airbnb  stock received a big lift with the announcement of its  inclusion in the S&P 500 .

DJIA, Nasdaq, and S&P 500 all experienced gains, while 10-year treasury yield decreased. Lodging stocks surged, led by lodging REITs AINC and ABNB, potentially narrowing the gap between NAV and stock prices. Lodging Dynamics Hospitality Group takes over management of Hilton Garden Inn and Homewood Suites in Los Angeles. Manhattan's Park Lane Hotel sold to Qatar's sovereign wealth fund. Wingate by Wyndham near LAX sold to Greens Group. IHG announces new Crowne Plaza in Saint John, New Brunswick. Kintetsu Group plans new hotel in Plano, Texas. Choice Hotels breaks ground on Cambria Hotel in East Tampa, Florida. Evans' Tempo by Hilton project falls apart. Philadelphia's former Family Court building to be transformed into a boutique hotel with an African American Museum nearby. East Bay Resort rebrands as Salterra Resort and Spa in Turks and Caicos after major renovation.

Hotels are increasingly charging for early or late checkouts, impacting both regular guests and loyalty program elites. This comes alongside a 1.8% rise in US hotel RevPAR and a 3.1% increase in Group RevPAR. Waramaug Hospitality acquires Atlanta Marriott Peachtree Corners with 222 rooms and versatile meeting spaces. SpringHill Suites by Marriott open in Delaware, Scottsdale, and Lansing. Oyo Hotel in St. Louis undergoes a $46 million renovation to become a Sheraton, introducing Bonvoy Apartments. Leading Hotels of the World adds four member hotels: The Adria (London), Azur Legacy Collection Hotel (Vancouver), Chedi Katara Hotel (Qatar), and Aleenta Retreat (Chiang Mai). These properties offer unique amenities, including a tranquil spa, rooftop dining, private beaches, and repurposed Thai dwellings.

Stock Market Update: DJIA, Nasdaq, and S&P 500 all ended the day with gains, reflecting a broad market RLJ Lodging Trust : Baird reports positive investor meetings, highlighting underappreciated growth outlook and company drivers. Hotel Developments: AC Hotels by Marriott planned in East Memphis , acquisition of Westin Annapolis , and Equinox Hospitality 's acquisition and rebranding of Four Points by Sheraton San Rafael Marin County.

Market Performance: DJIA fell 5 points, Nasdaq rose 128, and S&P 500 increased by 16 points; lodging stocks underperformed consumer and leisure stocks. Jefferies Nantucket Conference: Lodging companies report moderation in leisure demand, strength in group business, and mixed recovery of business transient; limited conviction impacting strategies and stock performance. Hotel Industry Updates: Canada's hotel industry shows improved performance; various hotels undergo renovations, acquisitions, and openings across different locations.

Marriott International, Sonesta International Hotel Corporation, and Pyramid Global Hospitality , announced plans for expansion and introduced new brands in different locations, including Latin America, Canada, and several U.S. states. Accor highlighted the progress of its branded residences business, with numerous projects under development worldwide, including Dubai, Australia, and South Korea. The Plasencia Group facilitated the sale of The Westin Tampa Bay, and Dan Hansen returned from retirement to lead Hyatt's new mid-market extended-stay brand, Hyatt Studios, with a significant development pipeline.

According to the latest STR U.S. bubble chart update , for the four weeks ending April 15, recovery growth across a range of industry indicators took a small backstep, with occupancy falling from the prior month. Each of the four world regions showed a year-over-year decline in hotel construction activity , with Asia Pacific coming closest to its 2022 comparable, according to March 2023 pipeline data from STR. The Hospitality Asset Manager Association released the results of its Spring 2023 Industry Outlook Survey .