Waikiki

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.

Ryman Hospitality Properties beat 3Q EBITDA estimates while giving a small 4Q guidance raise. Lodging stocks were mixed. SOND rose 8% but Selina (SLNA) plunged another -23% and is now down to near where it was in price when they completed the merger with BOA. Timeshare is definitely a mixed bag this earnings season. Following up on TNL’s disappointing results, Marriott Vacations gave a mixed 3Q along with guidance that seems mixed as well.

The  DJIA  fell 139 points on Friday while  Nasdaq  was down 104, the  S&P 500  fell 28 points and the  10-year treasury yield  was down .01 to 3.45%. Citigroup cut its rating on IHG Hotels & Resorts to Sell from Neutral. Citi believes the incomplete recovery in corporate travel will weigh on IHG’s RevPAR. Berenberg , on the other hand, sees hotels as the top travel play . The brokerage firm says concerns about the hotel industry are overblown and the outlook for RevPAR for 2023 and 2024 will strengthen further.