Kimpton

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.

The DJIA ended Friday with a gain of 395 points, while NASDAQ was up 255, the S&P 500 rose 59 points and the 10-year treasury yield ticked up a little to 4.15%. Lodging stocks were mostly…

Hilton Grand Vacations Inc. completed the previously disclosed acquisition of Bluegreen Vacations. The transaction broadens HGV’s offerings, customer reach, and sales locations, creating a premier vacation ownership, and experiences company.

Sydney hotels achieved their highest occupancy levels on New Year’s Eve at 94% followed by 93.8% on December 2nd. There were only two days in the month when occupancy was not above the 60% mark.

The  DJIA  fell 285 points,  Nasdaq  was down 174, the  S&P 500  fell 38 points, and the 10-year treasury yield was down nearly .10 to 3.91%. Let’s hope the first two trading days do not represent the rest of the year. STR’s  global “bubble chart” update through December 16, 2023 showed 75% of markets with growth in RevPAR compared to 2019. Could there be a hotel building moratorium in one of the most popular areas of Southern Florida?

Citigroup downgraded Sonder Holdings from Buy to Neutral, with a new price target set at $4.Choice Hotels criticized Wyndham Hotels & Resorts for misrepresenting the lodging industry's competitive landscape. This criticism came after Wyndham's recommendation for shareholders to reject CHH's exchange offer and their discontinuation of discussions regarding a potential transaction with CHH. Hyatt announced plans to open over 35 luxury hotels and resorts globally through 2025, including new Park Hyatt locations in the UK, Mexico, and Malaysia, and expanding the Thompson Hotel brand in Europe.

Park Hotels & Resorts announced a quarterly cash dividend of $0.15 and a special top-off dividend of $0.78, totaling nearly $635 million returned to shareholders in 2023. R New and renovated Holiday Inn properties opened in Mansfield, Ohio, and Milwaukee, Wisconsin. LuxUrban Hotels signed agreements to operate two New York City hotels.

IHG Hotels & Resorts ventures into Thailand’s Golden Triangle with luxury properties, while Courtyard by Marriott Bangkok undergoes extensive renovations. Six Senses opens a new resort in the Maldives, and Accor expands its portfolio across the Pacific region. OYO plans to alleviate debt through a buyback process before its long-anticipated IPO, while Indian Hotels Company inaugurates Ginger Mumbai Airport and Sarovar Hotels & Resorts debuts in Gujarat. Atmosphere Core introduces new hires and strategic shifts in the Maldives, emphasizing culinary strategies and upcoming projects across various brands and locations.

U.S. hotel RevPAR rose by 4.9% for the week, with rates up by 4%. Group RevPAR also increased by 13.3%. Truist adjusted ratings and target prices: lowered ratings for some companies (e.g., Bluegreen Vacations), raised target price for Bluegreen Vacations, and decreased target prices for Hilton Grand Vacation, TNL, and VAC. A significant decline in deals across travel and tourism sectors globally during January-October 2023 compared to the same period in 2022, affecting various regions and deal types.

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.