Tennessee

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.

Pebblebrook Hotel Trust beat expectations in Q2, aided by higher business interruption insurance proceeds and share repurchases. U.S. hotel construction pipeline sees steady growth with significant upscale and upper midscale projects. Several new hotel developments and acquisitions are planned, including a boutique Kimpton Virgilio in Mexico City and the first Hyatt Centric in Winnipeg .

DJIA, Nasdaq, and S&P 500 experienced gains, while the 10-year treasury yield decreased. Spending by international visitors in the U.S. increased significantly compared to the previous year, leading to a trade surplus in travel and tourism. Several hotels underwent renovations or acquisitions, and new hotels were announced in various locations across the United States.

Financial markets experienced declines with the DJIA falling 187 points and the S&P 500 down 13 points, while Nasdaq dropped 18 points. However, lodging stocks showed mixed to higher performance despite the overall market decline. Ashford Hospitality Trust (AHT) expects to return 19 hotels to lenders in various cities, including Las Vegas and Atlanta, due to missed repayment deadlines on a $982 million mortgage pool. AHT faced negative equity in the properties and opted not to pay for an extension, potentially impacting the hotel industry's debt situation. STR's global "bubble chart" update revealed that 85% of markets saw growth in Revenue Per Available Room (RevPAR) compared to 2019. Occupancy rates played a significant role in driving RevPAR, with coastal countries along the Mediterranean Sea showing strong growth. However, Saudi Arabia experienced the largest decline in RevPAR at 51%.

Stock market performance: DJIA, Nasdaq, and S&P 500 rose while the 10-year treasury yield was down. Lodging industry updates: Sonder Holdings downgraded, EF Hutton assumes coverage of Selina Hospitality, Ryman Hospitality Properties acquires JW Marriott San Antonio Hill Country Resort & Spa. New hotel developments: Chartwell Hospitality and Rockbridge developing three new hotels, Innisfree Hotels and RREAF Holdings open Fairfield Inn & Suites Pensacola Beach, Great Wolf Resorts opens Great Wolf Lodge Maryland.

Choice Hotels to integrate nearly 600 Radisson Americas hotels onto its reservation delivery engine and loyalty program. Dauntless Capital Partners purchases Hilton Garden Inn Bethesda Downtown for immediate renovation. Excel Hotel Group plans to build a 130-room SpringHill Suites Hotel in Grover Beach, California.

Stock market: DJIA down 245 points, Nasdaq down 22, S&P 500 down 21 points Decline in travel and tourism deal activity: 41% YoY decline, all deal types registered a decline in volume Hotel transactions: Several hotels sold, renovated, or under development in different locations

Stock Market: DJIA, Nasdaq, and S&P 500 showed gains, while lodging stocks had mixed performance. San Francisco Hotels: Park Hotels plans to surrender ownership, raising concerns about more foreclosures. Multiple hotels face loan due dates in the next two years. Hotel Updates: Various hotels undergo management changes, renovations, and new openings in different locations, including California, Illinois, Texas, and Canada.

Stock market indices experienced gains, with DJIA, Nasdaq, and S&P 500 rising while the 10-year treasury yield decreased. Truist's RevPAR Monitor highlighted positive and negative trends in the hotel industry, including the recovery of group travel and sluggish corporate individual business/transient segment. Various hotel-related announcements were made, including the launch of IHG's Wi-Fi Auto Connect feature, expansion of Saks Fifth Avenue's personal shopping service to luxury resorts, and the opening of new hotels by Hyatt, IHG, Palisociety, and others.

Hotel industry updates: Canadian hotel RevPAR exceeds C$100 for third consecutive month, with Manitoba and Vancouver leading in occupancy rates. Renovations and expansions: Knoxville, Tennessee plans to add 350 hotel rooms, while a $12 million extended-stay hotel is set to open in Maryland Heights, Missouri. Company announcements: Hyatt Place Melbourne Airport opens in Florida, while LVMH scraps luxury hotel plans in Beverly Hills.