IHG Hotels & Resorts

Sotherly Hotels reported preliminary operating results for 1Q23 for their 10 wholly-owned properties. RevPAR was up 21.4% led by an 11.4% jump in occupancy. Tighter budgets, busy airports, and soaring prices are prompting a more frugal tourist to return . Even high-end travelers are pulling back on their vacation spending, Bloomberg reported. Lightstone announced the April 12 debut of the 37-story, 727-key Moxy & AC Hotels Downtown Los Angeles.

Kimpton’s first-ever resort in the Western Caribbean is officially opening this summer, with the debut of the new Kimpton Grand Roatan in the Bay Islands of Honduras . According to The Wall Street Journal,  Goldman Sachs  is investing between 150 million and 200 million euros in  three seaside resorts  in the northern region of  Halkidiki . Key International  completed the purchase of  The Perry Hotel  on the waterfront in  Key West, FL  as part of an ambitious expansion of its $2 billion portfolio.

DJIA, Nasdaq, and S&P 500 all rose on Friday, and lodging stocks saw gains as well. New properties were acquired or announced in Montana, Atlanta, Ohio, Texas, Colorado, and Madrid. Multiple hotels were sold, and Blackstone secured a €680 million loan for Hotel Investment Partners.

Chinese hotels experience 20% increase in revenue per available room compared to pre-pandemic levels Domestic tourism boom and successful virus containment measures contribute to the rise in hotel occupancy and revenue High-end and luxury hotels see the most significant growth in revenue per available room, with some reporting up to a 50% increase

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 .

Truist said they have seen no noticeable changes to overall corporate booking and pricing trends in the first 10 days following the collapse of Silicon Valley Bank . On March 20, Membership Collective Group commenced trading on the NYSE under its new name and ticker, Soho House & Co Inc. / SHCO. In a joint venture, NewcrestImage and Hospitality Capital Partners have acquired 16 hotels with a total of 2,155 rooms for $137.3 million from Service Properties Trust .

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.

STR gave U.S. lodging data for the week ended 3/18. US hotel RevPAR rose 10.4% year over year. When compared with the same week in 2019, US hotel RevPAR was up 20.8%. We can’t tell if the markets genuinely hate U.S. Fed Chief Jerome Powell or if the guy should just have a stand-in for his press conferences. Redburn Partners lowered its rating on InterContinental Hotels Group to Sell. UBS Group downgraded shares of Melia Hotels International from a Buy rating to a Sell rating.

Aimbridge Hospitality has acquired the management arm of Terrapin Hospitality , with 71 hotels located in 21 states. This aggregates to over 8,100 keys transitioning to Aimbridge management. B.Riley lowered their price target on Ashford Inc. to $14 from $18, they maintained their Neutral rating on the stock. IHG Hotels & Resorts announced the opening of a new Holiday Inn Express & Suites Hotel in Glendale, California .