Crowne Plaza

STR's global report reveals positive RevPAR growth in most markets, with notable gains in occupancy, particularly surpassing 2019 levels in half of all markets. Israel, Singapore, Greece, Italy, and Ireland emerge as top performers in terms of RevPAR among countries with over 50,000 rooms, indicating strong tourism and hotel demand. Summer approaches with rising occupancy rates in 40 out of 48 countries , signaling a promising season for the hospitality industry worldwide. However, Vietnam and Saudi Arabia experience significant declines in RevPAR compared to 2019.

The big news was a rumor with the Wall Street Journal reporting Choice Hotels is making a move to acquire Wyndham Hotels & Resorts . Truist upped their price target on Hyatt Hotels to $149 from $145. This follows H’s Investor Day and the tours of Apple Leisure Group resorts. Pebblebrook Hotel Trust gave their monthly update saying for 2Q23, overall demand and profitability trends continue to remain within expectations .

InterContinental Hotels Group announced Keith Barr has informed the Board of his decision to step down from his role as Group Chief Executive Officer and from the IHG Board. Playa Hotels & Resorts reported a 1Q beat and repurchased 5 million shares for $42.6 million in 1Q as well as another 2.1 million shares for $20 million in April. During Q1 2023, RevPAR grew 13% compared to 2019 , fueled by higher ADR and growth in business and group demand as well as strong leisure travel, according to JLL’s latest U.S. Hotel Investment Trends report.

The earnings calendar accelerated in both the REIT and C-Corp section in the past 24 hours. Hyatt received the most attention with a clean beat but then some concerns creeping in. Host Hotels had a lousy two days to issue a great report with a clean and positive beat and raise. Summit Hotels came in just under consensus even with a strong top-line performance as higher hotel-level expenses hurt results.

Finn Partners released the results of their latest report, Outbound Rebound: The Return of Chinese Travelers . Marriott International announced plans to expand its portfolio in Greater China with the expected addition of 47 hotels in 2023, comprising more than 12,000 rooms. Accor announced the opening of Grand Mercure Hanoi, a new premium hotel in Vietnam .

The DJIA rose 75 points, Nasdaq was up 117, the S&P 500 gained 12 points and the 10-year treasury yield was down another .09 to 3.41%. Lodging stocks were mixed. Pebblebrook Hotel Trust gave a 1Q operating update, showing the quarter is in line with their recent guidance. Tourism to and from the U.S . has gradually recovered in 2022 without fully returning to pre-pandemic levels, according to the Commerce Department.

STR reported China hotel data for the week ended March 18. China hotel RevPAR rose 134% on a year-over-year basis, up against an easy -46% comp result in 2022. Marriott International announced the milestone opening of  hotel number 1,000  in Asia Pacific , signaling its continued confidence in the long-term growth potential of the region. Sabre said they have found strong demand among Chinese outbound travelers, despite high airfare costs.

Baird lowered their price target on Wyndham Hotels & Resorts to $86 from $88 while maintaining their Outperform rating. Barclays cut their rating on Hyatt Hotels to Equal Weight from Overweight. They cut their price target to $125 from $130. They upped Hilton to an Overweight rating from Equal Weight. Travel + Leisure Co . announced their upped their quarterly dividend per share to $0.45 per share from $0.40.

IHG Hotels & Resorts said the are pursuing an ambitious expansion plan in Greater China that explores popular and emerging destinations. Hilton’s upscale focused service brand, Hilton Garden Inn , announced the opening of its fiftieth property in Greater China. Brisbane’s $3.6 billion Queen’s Wharf Brisbane resort and casino will officially open before Christmas.

The DJIA  fell 392 points but Nasdaq was up 16, the S&P 500 rose 8 points and the 10-year treasury yield was up .02 to 3.54%. Lodging stocks were modestly higher with no major movers. Investment firm Sortis agreed to acquire Ace Group International for $85 million . The all-cash deal will give Sortis the boutique Ace Hotels brand and its hotel management company. International visitors spent more than $15.9 billion on travel to, and tourism-related activities within, the United States , an increase of nearly 57% compared to November 2021