Marriott International

China hotel RevPAR increased by 27.9% year over year and by 13.7% when compared to 2019. Japan experienced a resurgence in inbound tourism, with GCC countries leading the way, and June 2023 saw 72% of the visitor numbers compared to June 2019. Several hotels, including W Sydney , W Macao Studio City , and The Grand Copthorne Waterfront Hotel , have announced openings and renovations to cater to the recovering travel demand. Additionally, CapitaLand Ascott Trust signed a Memorandum of Understanding for acquiring lodging assets in the UK, Ireland, and Indonesia.

Xenia Hotels & Resorts reported an in-line to a modest miss result and narrowed guidance. They repurchased common stock in the quarter. Chatham Lodging Trust had a 5% increase in RevPAR year over year and a 5% AFFO rise, with RevPAR down less than -2% from 2019. Several hotels announced new openings, acquisitions, and rebranding, including Omni Hotels & Resorts , Sonesta , Braintree Group , Elise Capital , Hyatt Hotels Corporation , and DiamondRock Hospitality Company .

Thai tourism officials hope for 2 million Russian tourists to visit Thailand next year, as Russian travelers have been unwelcome in many European tourist locations due to their government's illegal invasion of Ukraine. Marriott International's Sheraton Hotels & Resorts is expanding in Asia Pacific with five new properties in China and Japan , showcasing the brand's new design concept. ONYX Hospitality Group announced the grand opening of Amari Raaya Maldives , establishing its presence in the Southeast Asian hotel industry.

The DJIA rose 27 points while Nasdaq was up 71, the S&P 500 was down 12 points, and the 10-year treasury yield was up .08 to 4.03%. MAR was up about 1.45% at the close.

China hotel industry shows strong rebound: RevPAR up 36.9%, surpassing pre-pandemic levels by 5.4%. Hong Kong hotels attract investors with discounts up to 30%, driven by cash-rich buyers seeking business district properties. Vietnam's tourism recovery gains momentum: July international arrivals tripled compared to last year, reaching 79% of 2019 levels.

Pebblebrook Hotel Trust beat expectations in Q2, aided by higher business interruption insurance proceeds and share repurchases. U.S. hotel construction pipeline sees steady growth with significant upscale and upper midscale projects. Several new hotel developments and acquisitions are planned, including a boutique Kimpton Virgilio in Mexico City and the first Hyatt Centric in Winnipeg .

The DJIA ended its winning streak with a 237-point drop, Nasdaq was down 77, and the S&P 500 fell 29 points. The 10-year treasury yield surged by 0.16, closing at a yield of 4.01%. Wyndham reported positive results, with its development pipeline rising and a significant stock buyback. Accor raised its annual profit outlook despite being slightly below analyst expectations. Senators Klobuchar and Moran introduced the Hotel Fees Transparency Act , aiming to crack down on hidden resort fees. They propose federal guidelines for pricing transparency in hotel stays.

Market Summary: DJIA rose 82 points, Nasdaq fell 17, S&P 500 down 1 point, 10-year treasury yield down to 3.85%. Uncertainty remains about the Fed's rate hike decision. Certares Real Estate Hospitality Fund : Certares closes its first real estate fund with $284 million in equity commitments, investing in 10 U.S. hotels. Hilton and Travel + Leisure face mixed responses from investors. JD Power study highlights staff service as the highest contributor to guest satisfaction in hotels.

Stock markets showed mixed results with DJIA up 27 points, Nasdaq up 86, and S&P 500 up 13, while 10-year treasury yield increased to 3.91%. Wyndham Rewards topped the list in the 2023-2024 Best Travel Rewards Programs, and Hilton is set to open Motto by Hilton in New York City Times Square. Pennbridge Lodging plans to construct two Marriott brands in downtown Boise, and Four Seasons Hotels announced a project in Jacksonville, Florida.

Bloomberry Resorts ' new integrated resort in Quezon City , Philippines, Solaire Resort North, is facing further delays, potentially pushing the opening from the first quarter of 2024 to the second quarter. Philippines developer Megaworld is set to open the country's largest hotel complex, Grand Westside Hotel, in Manila's Entertainment City, with the first tower opening before the end of the year and the second tower in 2024. Discovery World Corp has opened a five-star resort hotel, Discovery Samal, in Limao, Philippines, featuring 128 hotel suites and extensive facilities, aiming to boost tourist arrivals in the region.