Virginia

CBRE has lowered its U.S. hotel performance forecast for 2024 due to weakening leisure travel and corporate profits but still expects RevPAR growth driven by international tourism and election-related events.

Hilton beat estimates and cut guidance, and seemed to have a report that was accepted more than Marriott ’s.  The company has raised their net room growth target for the year and it repurchased shares this quarter.

Financial markets plunged with major indices and lodging stocks down sharply, except for SHCO which rose 6%.

The DJIA rose 99 points while Nasdaq surged 452, the S&P 500 rose 86 points and the 10-year treasury yield was down .03 to 4.11%. Lodging stocks were modestly higher, did much better due to the…

Hotel production in the San Francisco Bay Area has nearly stopped in 2024, with only two new openings and uncertain prospects for ongoing projects.

Pebblebrook Hotel Trust increased their 2024 EBITDA and AFFO outlook despite reducing their RevPAR outlook, anticipating a stronger 2025.

U.S. travel demand is robust across hotel segments, driven by higher-income leisure and business travelers, but lower-income travel is declining, and recovery varies by hotel type and market, with international travel lagging behind domestic recovery.

ECHO Suites Extended Stay by Wyndham opened its first location in Spartanburg, South Carolina, marking a milestone for the brand with a development pipeline of nearly 270 hotels.

Hilton is dramatically expanding its portfolio of luxury hotel experiences with the addition of nearly 400 boutique properties from the Small Luxury Hotels of the World collection.

Braemar Hotels and Blackwells Capital have reached an agreement ending their proxy battle, with Blackwells withdrawing nominations, supporting BHR proposals, buying more shares, and BHR adding an independent director with Blackwells' input.