Marriott International

According to July 2022 data from STR , the U.S. hotel industry reported record-high monthly room rates on a nominal basis. Raymond James believes the recovery in global travel still has plenty of room to run. They believe this is the earliest stage of what is set up to be a multi-year fundamental recovery in global travel. A 13-F filing from Sunstone Hotels showed Blackstone Group had taken a 4.1% stake in SHO.

The Baird/STR Hotel Stock Index was up 14.3% in July. Year to date the first seven months of 2022, the stock index is still down by -10.4%. According to Bloomberg, the Abu Dhabi Investment Authority is exploring options, including a possible sale of the Miami Beach Edition hotel . AC Hotels by Marriott announced the opening of the new AC Hotel by Marriott Monterrey Valle , its first hotel in the city of Monterrey, Nuevo Leon

The DJIA  rose 19 points, Nasdaq was up 27, the S&P 500 was up 10, the 10-year Treasury yield was down .01 to 2.88% and lodging stocks were higher on a calm day in the market. B.Riley Securities upped its price target on Ashford Inc to $23 from $19. Pebblebrook Hotel Trust said total revenue in July topped pre-pandemic levels for the first time since the onset of the pandemic.

Truist lowered target prices on their vacation ownership names despite publishing a positive report on their beat and raise quarters along with the continued return of capital. STR and Tourism Economics adjusted occupancy downward but lifted projections once again for ADR in the revised U.S. hotel forecast just presented at the Hotel Data Conference . Mission Hill Hospitality has acquired the Courtyard by Marriott Lenox and Hampton Inn & Suites Berkshire-Lenox , located in the heart of the Berkshire region of Western Massachusetts.

Choice Hotels International, Inc. has completed the acquisition of the franchise business, operations and intellectual property of Radisson Hotels Americas. Selina filed with the U.S. Securities and Exchange Commission a registration statement on Form F-4, in connection with its previously announced proposed business combination with BOA Acquisition Corp. The Gulf Coast’s first beachfront Hyatt Place hotel is now open in Panama City Beach.

The DJIA surged 515 points, Nasdaq was up 361, the S&P 500 was up 88 and suddenly the 10 year treasury yield is calm and the indexes are nuts again. STR said US Lodging RevPAR was up 12.2% year over year for the week ended 8/6. Global travel prices are predicted to continue to increase in the remaining months of 2022 and throughout 2023, according to the 2023 Global Business Travel Forecast.

The DJIA fell 58 points, Nasdaq was down 151, the S&P 500 was down 18 points, and the 10-year treasury yield was up .03 to 2.80%. The second half of the earnings season included a sparkler from Hyatt, while IHGwent back to returning money to shareholders with dividends and up to $500 million in share buybacks. According to the recently released Q2 2022 Canada Construction Pipeline Trend Report from Lodging Econometrics , at the close of the quarter, the total construction pipeline in Canada stands at 261 projects.

The equity indexes have really calmed down while treasuries get really volatile. Lodging stocks were higher. AINC was the big mover, up 11%. SMBC Nikko cut its rating on Park Hotels & Resorts to Neutral from Outperform. Its price target is $16. The CBRE Hotels Research State of the Union showcases current demand trends, as well as fundamentals by segment, location type and chain scale.

STR said things really improved in China following the belief that the Covid outbreaks were over. Hotel RevPAR for the week ended July 30 th in China was up 8.5% year over year while down only -10.3% versus the same week in 2019. Travelers from Japan, Taiwan and Macau will be temporarily allowed to enter South Korea without a visa this month. Baring Private Equity Asia announced its affiliated real estate funds completed the acquisition of the Sydney Hilton hotel for A$530 million.

The vast majority of lodging company earnings, both REIT and C-Corp , have been very positive, with the REITs being the biggest surprise. Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel , to its Latitudes: Lifestyle by Crescent collection. Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta , from affiliates of Marriott Vacations Worldwide .