JW Marriott Hotels & Resorts

Macau saw 65,677 visitor arrivals over the weekend in the first two days of the National Day Golden Week. Marriott International announced their JW Marriott brand opened the JW Marriott Khao Lak Resort Suites, an all-suite luxury retreat nestled in a serene beachside setting on southern Thailand’s Andaman coast. Hilton Grand Vacations announced the grand opening ceremony for The Beach Resort Sesoko, a Hilton Club.

The 10-year treasury yield was up .20 today to 3.71%. Do we need to tell you what happened to stocks? The DJIA was down 107, Nasdaq was down 153, the S&P 500 was down 32. Truist reported on meetings they held with the management of Wyndham Hotels . Demand trends remain favorable and while management is closely monitoring bookings, length of stay, cancellation rates and such, they see no immediate cause for concern. As recent demand for hotel rooms breaks records and prices skyrocket, hotel investors are taking notice as 80% of them plan on buying throughout the remainder of 2022 and into 2023 .

Marriott International  announced it expects to open  14 additional luxury properties   in Asia Pacific by the end of 2023 . Marriott currently operates 156 luxury properties in the region. Construction of the long-awaited resort at  Kalgoorlie Golf Course  in the city of  Kalgoorlie-Boulder  in  Australia  has finally begun. PT Platnet Properindo Jaya Tbk will initiate the operation of Citi Hub Hotel, Kelapa Gading in Indonesia in 2023.

STR reported China hotel RevPAR results for the week ended September 10. RevPAR was down -12.3% year over year while down -29.3% when compared with a comparable week in 2019. Hong Kong hotels have been told to set aside just eight or 3% of their rooms, whichever is lower, to house travelers who test positive for Covid, raising the risk of insufficient space for infected people if the easing of travel curbs come into effect. Asset World Public Company Limited said they are strengthening their long term partnership with Marriott International with an agreement to launch a new Ritz-Carlton hotel in Bangkok’s heritage riverside district.

The DJIA was up 436 points, Nasdaq was up 247, the S&P 500 was up 72 points and the 10-year treasury yield was down .08 to 3.27%. Truist Securities published their RevPAR tracker, saying based on their analysis, they have yet to observe any “recession-driven” pullbacks and see the greatest degree of booking and pricing momentum coming from the corporate group segment. Hotels in the top 25 markets across the U.S. were the hardest hit by the pandemic-induced demand downturn but have come back with a vengeance.