Marriott Hotels

STR said China hotel RevPAR for the week ended April 15, was up 155.1% year over year. Marriott International announced it signed agreements with Vinpearl for an additional seven hotels and resorts in Vietnam , comprising more than 2,500 rooms. The Ascott Limited , a unit of CapitalLand Investment Limited, has achieved its target to secure 160,000 units by 2023 with the  signing of over 4,000 units in 1Q this year .

Wells Fargo has cut price targets on lodging stocks under coverage due to concerns over regional banks and their impact on the hotel industry. The bank only downgraded two names - Park Hotels and Xenia Hotels - but reduced price targets on many others, including Hilton, Marriott, and Hyatt. STR's global "bubble chart" update shows growing momentum in the Asia Pacific region and more than half of markets globally with better than 20% growth in RevPAR versus 2019. Israel, Switzerland, Singapore, the Dominican Republic, and New Zealand led in RevPAR on an actual basis. HEI Hotels & Resorts has taken over management of the Marriott Jacksonville Downtown Hotel in Jacksonville, Florida, which will undergo a comprehensive renovation in the planning stages with completion anticipated in the first quarter of 2024.

Hilton announces plans to double its hotel portfolio in Puerto Rico by 2027, with the addition of seven new properties. The expansion will create around 2,100 new jobs and contribute to the island's economic recovery following the devastation caused by Hurricane Maria in 2017. Hilton's investment in Puerto Rico's tourism industry is a sign of the company's confidence in the island's potential as a destination for both leisure and business travelers.

A Crisil Market Intelligence report predicted the revenue of premium hotels in India will rise 80% this current fiscal year. The Macao Government Tourism office said the number of mainland visitors to Macau reached 50% of pre-pandemic levels while the rebound of Hong Kong visitors is even stronger. The MGTO also said they completed the approval process for the Raffles at Galaxy Macau hotel tower, part of Cotai’s Galaxy Macau Phase 3 project.

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.

Despite the jitters and dire predictions we have been hearing for getting close to a year, lodging demand remains consistent with any concern of deterioration stemming from headline economic risk not yet manifesting in fundamentals. Baird reported on something we touched on recently, insider buying at lodging companies . A majority of the U.S. corporate travel buyers expect their company’s business travel to ramp up and return to pre-pandemic levels by the end of 2023

The DJIA fell 0.73% while Nasdaq was down 1%, the S&P 500 fell 0.88% and the 10-year treasury yield was roughly flat at 3.671%. Hilton checked nearly all the boxes with their earnings report, kicking off lodging earnings season with a bang . InterContinental Hotels Group PLC is seeking to fend off claims from franchisees five months after a cyber attack that hotel owners say cost them money and disrupted business.

Despite projections of persistent inflation and a moderate economic recession, CBRE’s November 2022 Hotel Horizons forecast calls for a 5.8% increase in RevPAR in 2023, up from CBRE’s previous forecast of a 5.6% increase. The hotel industry in 2023 is projected to surpass pre-pandemic levels of demand , nominal room revenue and state and local tax revenue, while inching closer to other key 2019 performance metrics. Starwood Capital Group , and Adventurous Journeys Capital Partners , announced the launch of Field & Stream Lodge Co., a branded hospitality platform aiming to create modern and affordable lifestyle lodging across the United States.

JP Morgan gave their 2023 lodging outlook presentation, saying they see the REITs as relative underperformers versus the C-Corps. They see Wyndham Hotels and Hyatt Hotels as relative out performers within lodging. The DJIA rose 186 points while Nasdaq was up 107, the S&P 500 rose 27 points and the 10-year treasury yield was up .10 to 3.62%. Lodging stocks were higher. Barclays said December lodging RevPAR ended on a strong note, very notable after Pebblebrook Hotel Trust’s guidance cut during the month.

Adelaide hosting the Australian Football League’s Gather Round and LIV Golf in April 2023 has resulted in a boost in the market’s hotel occupancy on the books. 35.7% of Americans surveyed are aware that Japan is now open for travel with Asian Americans at 57% and 41.3% of those living in Western US. BWH Hotels Group said they are continually expanding with six new signings of properties in Pakistan and Vietnam .