CBRE Hotels

The Wall Street Journal published an article on how  Asia Pacific may have reopened to tourism, but the recovery is slow . Oyo Hotels filed new financial documents with the Securities and Exchange Board of India. Japan plans to resume visa-free air tickets in October and  Taiwan plans to open its borders from mid-to-late October.

The DJIA  rose 30 points while Nasdaq was up 86, the S&P 500 rose 13 points and the 10-year treasury yield was down .01 to 3.41%. Truist reported on a call they held with the CEO of hotelAVE . The takeaways included that they saw leisure demand start to slow in May while group and corporate recovery is now benefiting from urban and convention hotels. JP Morgan reported on meetings held with Wyndham Hotels’ CEO and SVP, IR. JPM said the meetings were generally upbeat, reflective of strong demand and pricing trends as well as steady new development and conversion signings.

The  DJIA  ended Friday with a gain of 377 points while  Nasdaq  was up 250, the  S&P 500  rose 61 points and the  10-year treasury yield  was up .03 to 3.32%. Lodging stocks were modestly higher. USA Today published a story, actually a prediction that new hotel fees may be popping up . The St. Joe Company and InterMountain Management, LLC announced the commencement of construction on a new hotel in Panama City Beach, FL .

A rebound in foreign tourist arrivals into Thailand  is pushing up the nation’s hotel occupancy rate from a record low during the pandemic. Hotel industry experts are predicting an influx of international tourists in the Philippines in the final quarter of 2022, particularly in Manila, Cebu and Clark. ITC Hotels in India could soon be spun out of conglomerate ITC. The chairman of the parent company told reporters they are exploring alternate structures for ITC Hotels, in line with industry recovery dynamics.

Hyatt Hotels Corp announced plans for its continued growth in the Asia Pacific market. They unveiled a robust pipeline of landmark luxury and lifestyle hotels and resorts. CEL Australia has listed The Sebel Hotel Mandurah for sale as Western Australia reopens to the world post-pandemic. Andrew Tan’s flagship property firm Megaworld is opening a new Belmont Hotel within the 30-hectare Mactan Newtown in Lapu-Lapu City, Cebu.

Ryman Hospitality Properties became the latest lodging REIT to reinstate something more than a token dividend. CBRE Hotels said they are raising their forecast for hotel performance on the heels of industry gains in Q2 2022 and the expectation of slightly positive GDP growth in 2023. Wolfgramm Capital has acquired the Waldorf Astoria Park City hotel in Park City, UT. The property was acquired off-market and as part of an all-cash deal.

The Singapore government said indoor masks will no longer be mandatory from August 29 on and that masks will only be worn in medical facilities and on public transport. The bigger…

China reported 2,181 new Covid cases on Saturday , with infections surging to a three month high. Real Commercial said Sydney hotel occupancies are beginning to slip but hoteliers are still charging higher room rates. Tuan Sing Holdings is close to announcing plans to redevelop its 550 room Grand Hyatt Hotel in Melbourne’s Collins Street into a major mixed-use development.

The DJIA  rose 19 points, Nasdaq was up 27, the S&P 500 was up 10, the 10-year Treasury yield was down .01 to 2.88% and lodging stocks were higher on a calm day in the market. B.Riley Securities upped its price target on Ashford Inc to $23 from $19. Pebblebrook Hotel Trust said total revenue in July topped pre-pandemic levels for the first time since the onset of the pandemic.

The vast majority of lodging company earnings, both REIT and C-Corp , have been very positive, with the REITs being the biggest surprise. Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel , to its Latitudes: Lifestyle by Crescent collection. Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta , from affiliates of Marriott Vacations Worldwide .