Truist reports slight downward revisions in U.S. hotel booking and pricing trends for 3Q and 4Q, with modest growth expected in 2025, but no signs of a sudden pullback or near-term upside for RevPAR.
IHG Hotels & Resorts and Six Senses announced the signing of Six Senses Telluride, a luxury property with extensive amenities set to open in 2028 in North America's Mountain West Region.
Key events included DiamondRock Hospitality's upgrade, Hyatt and Apple Hospitality lowering guidance, and IHG reporting strong new room signings despite challenges in China.
Thailand is expected to reach pre-pandemic tourism levels of 40 million arrivals this year and potentially 50 million by 2028, contingent on avoiding global or local crises – not to mention whether or not they add casinos.
Luxury hotels in Bangladesh are facing a nearly 90% drop in guests and significant financial losses due to unrest, curfews, and travel warnings, with near-zero bookings reported for late July and August.
Investors are concerned as Travel + Leisure Co. and Red Rock Resorts reported modest or solid earnings but saw stock declines, reflecting nervousness and a shoot-first-ask-later mentality on Wall Street.