Hampton by Hilton

Baird provides insights into investor sentiment and expectations for 2024 RevPAR growth among hotel brands. Several hotel renovation and construction projects are announced, including a new Westin Resort in Cocoa Beach, Florida, and a Ritz Carlton Residences in Lake Woodlands, Texas. Multiple hotel acquisitions and developments are highlighted, such as the Kastrati Group's acquisition of SLS Brickell in Miami and IHG Hotels & Resorts introducing the Kimpton brand in Portugal with Kimpton Algarve Sao Rafael Atlantico.

Jefferies downgraded Marriott Vacations to "Hold" from "Buy" and reduced their target price, expressing concerns over the macroeconomic outlook, particularly in consumer credit and interest rates. The 2023 survey from the Hospitality Asset Managers Association indicates optimism about RevPAR's return to 2019 levels, while various hotels announce new completions, renovations, and sales across the U.S. Key personnel appointments are announced in major hotel groups, and international brands like Wyndham, Accor, and Hyatt unveil expansion plans and new properties in locations such as Barbados, France, and Spain.

Wedbush initiated coverage on lodging REITs, with Ryman Hospitality and Host Hotels receiving Outperform ratings and price targets of $94 and $19, respectively. Park Hotels and Pebblebrook Hotel Trust were initiated with Neutral ratings and price targets of $13 and $14, respectively. Keybanc downgraded Airbnb's rating to Sector Weight from Overweight. A report by Morning Consult indicates that the "revenge travel" trend may be declining, with travel intentions increasing in some countries but declining in others, particularly in Europe. China is experiencing a significant surge in travel, driven by pent-up demand.

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.

B of A Securities gives IHG Hotels & Resorts a Buy rating. Sonder announces a 1-for-20 reverse stock split. Hyatt plans to expand with over 30 new hotels in the Americas by 2025, emphasizing luxury, resort, and lifestyle rooms. Miraval Resorts unveils its spa after a $60 million renovation. Raffles Boston and The Fontainebleau Las Vegas announce their openings.

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.

TD Cowen increased price targets for Hilton and Marriott, maintaining Outperform ratings. U.S. international travel spending surged in July 2023, with a trade surplus of $777 million. Various hotel developments and management changes were announced, including HEI Hotels & Resorts' management of Aloft Tampa Downtown and plans for new properties in New Brunswick and Denver, as well as a significant renovation of The Olana mansion in Texas.

Q2 '23 saw 14,572 global hotel projects. Luxury and upscale chains dominate, led by Hilton, Marriott, and IHG. Urban hotels lag in post-pandemic recovery compared to resorts and suburban counterparts, with rate management playing a vital role. Notable new hotels, rebranding, and appointments are taking place, with Hilton, Riu Caribe, Choice Hotels, and Sonder making moves. London's Broadwick Soho hotel is set to open with unique additions.

DJIA, Nasdaq down; S&P 500 fell; 10-year treasury yield up. Hotel Trends: Global RevPAR growth; Canada's record ADR and RevPAR; mixed occupancy rates. Developments: Hotel expansions, renovations; Hyatt Vacation Club launch; new CEOs, brand in Croatia.

Hotels are increasingly charging for early or late checkouts, impacting both regular guests and loyalty program elites. This comes alongside a 1.8% rise in US hotel RevPAR and a 3.1% increase in Group RevPAR. Waramaug Hospitality acquires Atlanta Marriott Peachtree Corners with 222 rooms and versatile meeting spaces. SpringHill Suites by Marriott open in Delaware, Scottsdale, and Lansing. Oyo Hotel in St. Louis undergoes a $46 million renovation to become a Sheraton, introducing Bonvoy Apartments. Leading Hotels of the World adds four member hotels: The Adria (London), Azur Legacy Collection Hotel (Vancouver), Chedi Katara Hotel (Qatar), and Aleenta Retreat (Chiang Mai). These properties offer unique amenities, including a tranquil spa, rooftop dining, private beaches, and repurposed Thai dwellings.