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Crescent Real Estate acquired the Element Orlando Universal Boulevard hotel, and the Delta Hotel in Wichita Falls, Texas, opened. Various hotel acquisitions and rebranding activities occurred, including the purchase of Hilton-branded hotels in New York, rebranding of properties as Trademark Collection by Wyndham, and the addition of Arlo Williamsburg to the Arlo Hotels portfolio. A $1.5 billion development plan for the Tennessee Titan's domed stadium area was announced, including a 40-story hotel, apartments, and retail spaces, with construction set to begin in 2025.

Xenia Hotels & Resorts reported an in-line to a modest miss result and narrowed guidance. They repurchased common stock in the quarter. Chatham Lodging Trust had a 5% increase in RevPAR year over year and a 5% AFFO rise, with RevPAR down less than -2% from 2019. Several hotels announced new openings, acquisitions, and rebranding, including Omni Hotels & Resorts , Sonesta , Braintree Group , Elise Capital , Hyatt Hotels Corporation , and DiamondRock Hospitality Company .

Stock market: DJIA fell 219 points, Nasdaq was down 138, and S&P 500 fell 34 points. Pebblebrook Hotel Trust warns of weaker weekend leisure travel and expects slightly lower 2Q revenue. Various hotel announcements: HHM Hotels launches Echelon Luxury & Lifestyle division, Driftwood Capital acquires Hilton Dallas/Plano Granite Park, LBA Hospitality opens Homewood Suites by Hilton in Greenville, Renaissance Cleveland undergoing renovations, and more.

Stock market indices, including DJIA, Nasdaq, and S&P 500, experienced declines, while the 10-year treasury yield saw a slight increase. The hotel industry faced mixed results, with the Hotel Brand sub-index declining but the Hotel REIT sub-index growing. The U.S. Travel Association released a forecast predicting steady growth in domestic leisure travel and slower recovery in business travel.

Apple Hospitality and Xenia Hotels were the next up to report earnings. APLE beat expectations and continues to be one of the few hotel REITs reporting EBITDA above 2019 levels. XHR also beat expectations on a higher top line with RevPAR growth of 23.9%. STR reported US lodging data for the week ended April 29. Year over year hotel RevPAR was up 5.6%.

Blackstone announced the final close of its Blackstone Real Estate Partners X fund with $30.4 billion of total capital commitments, the largest real estate or private equity drawdown fund ever raised. Truist lowered their target price on Pebblebrook Hotel Trust, saying they have concerns over 2024 San Francisco conventions along with rising hotel-level costs. Celebrating its five-year anniversary, the Hard Rock Hotel Dayton Beach in Florida debuted a multimillion renovation including refreshed guestrooms and youth club and revamped memorabilia.

STR gave U.S. lodging data for the week ended 3/18. US hotel RevPAR rose 10.4% year over year. When compared with the same week in 2019, US hotel RevPAR was up 20.8%. We can’t tell if the markets genuinely hate U.S. Fed Chief Jerome Powell or if the guy should just have a stand-in for his press conferences. Redburn Partners lowered its rating on InterContinental Hotels Group to Sell. UBS Group downgraded shares of Melia Hotels International from a Buy rating to a Sell rating.

Lodging stocks were higher. ABNB led the group with a 7% rise while MCG was up 5%. Raymond James upped their price target on Hilton to $165 from $150. They maintained their Outperform rating. Ian Schrager and Ed Sheetz have stepped in to possibly partner with Chetrit Group , to rescue its landmark Bossert Hotel , located in Brooklyn Heights, New York.

The DJIA rose 208 points while Nasdaq was down 203, the S&P 500 fell 46 points and the 10-year treasury yield was down .02 to 3.65%. STR reported US lodging RevPAR for the week ended February 4. RevPAR was up 26.6% year over year. When compared with the same week in 2019, RevPAR was up 6.1%. Three historic buildings in downtown Cincinnati, Ohio will soon become a hotel when combined with a newly built seven-story tower.