Courtyard by Marriott

Truist expects strong international and group earnings in 3Q lodging reports but weak domestic leisure. CoStar reports higher hotel performance in September 2023, with New York City leading in occupancy. Several hotel transactions and developments are mentioned, including Omni Pontoque Resort and Alt Hotel Calgary University District.

DJIA fell 174 points, Nasdaq down 85, S&P 500 down 27, and 10-year treasury yield surged to 4.71%. Financial analysis by JP Morgan on Marriott Vacations Worldwide, noting risk factors and a Neutral rating. Acquisitions by Apple Hospitality REIT, renovations of Marriott properties, and promotions at Noble House Hotels & Resorts, KSL Resorts, JLL's Value and Risk Advisory platform, and Auberge Resorts Collection.

U.S. hotel industry saw positive growth in RevPAR and rates for the week ending September 30, with Group RevPAR showing significant improvement. Rosewood Hotels & Resorts is expanding its branded residence portfolio especially in Europe. Various hotel projects and developments are underway in different locations, including downtown Springfield, Norfolk, San Antonio, Beaufort, and Las Vegas, with a range of amenities and timelines.

STR reported a week ending September 23rd with a 1.2% increase in US hotel RevPAR and a 1.8% rise in Group RevPAR. Barclays lowered price targets for Travel + Leisure to $38 and Marriott Vacations to $118 while maintaining their respective ratings. Marriott International revealed a three-year growth plan, targeting the addition of 230,000 to 270,000 net rooms by 2025 and emphasizing global portfolio expansion and RevPAR growth.

DJIA and Nasdaq dropped significantly, 10-year yield surged, and lodging stocks declined. U.S. hotel industry saw lower occupancy but improved year-over-year comparisons. Peachtree Group announced multiple hotel acquisitions and new development projects, while other hotels are under renovation and expansion.

Sonder Holdings announces a 1 for 20 reverse split to maintain its Nasdaq listing, with Selina also considering a reverse split. STR reports US hotel data with a slight increase in US hotel RevPAR but a decrease in Group RevPAR for the week ending 9/16. Various hotel acquisitions and developments are underway, including Omni Hotels & Resorts in Raleigh, Travel + Leisure Co.'s sports-themed resorts, Life House in Palm Springs, and more.

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.

Truist  reported on its visit to  San Francisco  for the Visit Impact Summit. The good news is that the fall 2023 events are showing improvement. Marriott International  announced the completion of a recent redesign and renovation to the 146-room  Courtyard by Marriott Denver Central Park  in Denver, Colorado . Airbnb  stock received a big lift with the announcement of its  inclusion in the S&P 500 .

Market Movement:DJIA up 26, Nasdaq down 26, S&P 500 down 1, 10-year treasury yield down to 4.25%. Selina Hospitality Woes:Selina Hospitality's stock plunged 41%, facing financial struggles and a revised SEC prospectus. Other lodging stocks also hit new lows. Hotel Industry Highlights: Airbnb's price target raised to $110 by Morgan Stanley. American Hotel & Lodging Association praised new federal travel rates. Blackstone sold three hotels for $64.3 million. Various hotel developments and renovations announced. Hotel La Jolla undergoes $8M renovation. David Meisner rejoins White Lodging as Regional VP.

Market Performance: DJIA, Nasdaq, and S&P 500 experienced declines while the 10-year treasury yield increased. Lodging stocks showed mixed to modestly lower results. BHR traded down to a new low. Hotel Investment Insights: Baird reported on meetings with Xenia Hotels & Resorts' management, highlighting patience required due to leisure trends and Scottsdale renovation disruption. S&P upgraded XHR's ratings based on improved RevPAR and EBITDA outlook. Industry Developments: Hilton plans automatic housekeeping, Courtyard Wichita completes renovation, District Hospitality Partners acquires Westin Annapolis, Cascade Hotel Kansas City to open, Aimbridge to manage Marriott properties, Hyatt introduces Hyatt Studios brand, IHG launches midscale brand Garner, various expansion and renovation projects noted.