Hyatt Hotels Corporation

Canada’s hotel industry showed lower occupancy but continued growth in ADR, according to CoStar’s January 2024 data.

IHG posted slightly better than expected results with the most publicized part of the release being their intention to give more $1 billion back to shareholders in 2024.

Chinese travelers flocked to tourist hotspots across Asia over the Lunar New Year break, with visitor numbers and spending in destinations including Singapore, Thailand, and Malaysia exceeding pre-Covid levels.

Wyndham had their typical quarter, but WH did say fighting off CHH is going to cost them about $75 million, while Hyatt gave a late-night press release that stated their 4Q results would be delayed because they have not finalized accounting relating to ALG’s Unlimited Vacation Club.

STR reported US lodging data for the week ended 2/10. US hotel RevPAR was up 3.9% with ADR up 7%. RevPAR in Las Vegas was up 140% year over year thanks to the Super Bowl.

A 60 member House committee in Thailand that is tasked with considering the possibility of developing Thailand’s first legal casinos continues to have trouble completing the task at hand.

Group bookings across the industry’s largest portfolio of economy and midscale hotels will soon take minutes, not days, thanks to Groups360 and the rapid rollout at over 5,600 Wyndham hotels.

A recent implementation of unilateral visa exemptions for 13 European countries was credited for the strong growth in arrivals from the UK, France, Germany, and Russia in January.

IHG Hotels & Resorts announced the opening of a new build Holiday Inn Express & Suites hotel in Arkansas, while Best Western Hotels & Resorts announced the opening of the Best Western Halito Inn in Oklahoma.

Canada is seeing a surge of hotel construction in major cities, with Vancouver leading the way in new building applications. It is now seen as the most attractive bet by analysts because it leads the way in hotel profits and occupancy, which was almost 80% in October.