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Market Update: DJIA up 270 points, S&P 500 rose 23 points, Nasdaq remained flat, and 10-year treasury yield jumped to 3.85%. Lodging Industry News: STR reported a slight decline in hotel RevPAR , but a 12% increase compared to the same week in 2019. Hotel Renovations and Openings: StepStone Hospitality completed a $3.5 million renovation at Fairfield Orlando I-Drive Convention Center, and The Ritz-Carlton Naples reopens after extensive renovations with new amenities and redesigned rooms.

The DJIA, Nasdaq, and S&P 500 experienced growth with varied changes in lodging stocks. Morgan Stanley adjusted price targets for numerous lodging companies, including Sunstone Hotels and Host Hotels . Major hospitality companies, such as Selina Hospitality , Whitestone Companies , and Marriott Hilton Head Resort & Spa, announced important business updates including investments, renovations, and acquisitions. EOS Hospitality , Hotel Equities , and Aimbridge Hospitality made key personnel changes. Accor plans to open 1,200 hotels in the next five years, with a RevPAR growth of 15% to 20%. Aimbridge Hospitality will manage the Alliance Palace Aparthotel in Batumi, Georgia.

Stock market: DJIA fell 219 points, Nasdaq was down 138, and S&P 500 fell 34 points. Pebblebrook Hotel Trust warns of weaker weekend leisure travel and expects slightly lower 2Q revenue. Various hotel announcements: HHM Hotels launches Echelon Luxury & Lifestyle division, Driftwood Capital acquires Hilton Dallas/Plano Granite Park, LBA Hospitality opens Homewood Suites by Hilton in Greenville, Renaissance Cleveland undergoing renovations, and more.

Stock market indices, including DJIA, Nasdaq, and S&P 500, experienced declines, while the 10-year treasury yield saw a slight increase. The hotel industry faced mixed results, with the Hotel Brand sub-index declining but the Hotel REIT sub-index growing. The U.S. Travel Association released a forecast predicting steady growth in domestic leisure travel and slower recovery in business travel.

Stock Market: DJIA, Nasdaq, and S&P 500 showed gains, while lodging stocks had mixed performance. San Francisco Hotels: Park Hotels plans to surrender ownership, raising concerns about more foreclosures. Multiple hotels face loan due dates in the next two years. Hotel Updates: Various hotels undergo management changes, renovations, and new openings in different locations, including California, Illinois, Texas, and Canada.

The hospitality industry is experiencing optimism and cautiousness, with hotels considering divesting assets and anticipating a potential distressed sale boom. Hoteliers are optimistic about increasing demand, but face challenges such as high-interest rates, labor shortages, and decreased construction activity. The U.S. hotel forecast shows improvements in occupancy, ADR, and RevPAR, while hotels are offering incentives to combat staffing shortages. International visitor arrivals to the U.S. continue to rise, with Mexico and Canada leading the way.

Hotel industry news: Renovations, expansions, and openings across various cities, states, and countries. Notable updates include the completion of a multi-million-dollar renovation at The Westin Savannah Harbor Golf Resort & Spa in Georgia. Exciting developments include the opening of the first fully Pixar-themed hotel, Pixar Place Hotel, in Anaheim, California, and the debut of Six Senses Crans-Montana in Switzerland.

Stock market performance: DJIA and lodging stocks showed mixed results, while Nasdaq and S&P 500 experienced gains. Hotel openings and renovations: New hotels and renovated properties were announced by various companies, including Wyndham Hotels, Hyatt Hotels, Candlewood Suites, and Knott's Berry Farm Hotel. Business updates: Remington Hotels promoted Keith Oltchick to Chief Development Officer, Hunter Hotel Advisors facilitated the sale of Hilton-branded assets, and Wyndham Hotels completed the refinancing of its Senior Secured Term Loan B Facility. Additionally, Mandarin Oriental revealed plans for a new hotel and residences in Athens, Greece.

Last week BP plc completed the acquisition of TravelCenter of America Inc . Service Properties Trust received $379.3 million in cash as part of the transaction. Sonder Holdings was cut to Perform from Outperform by Oppenheimer and InterContinental Hotels Group was upgraded to Neutral from Sell by Redburn. The Baird/STR Hotel Stock Index rose 1.4% in April from March. The Hotel Brand sub-index rose 2.5% from March while the Hotel REIT sub-index was down -2.6%.

STR reported US RevPAR for the week ended May 13 was down -1.3% year over year, possibly impacted by Mother’s Day timing. CBRE is again raising its forecast for hotel performance this year . The company has revised its forecast for 2023 RevPAR to $97.89, up 6.0% YOY and an increase of $0.43 from its previous forecast. Hilton announced the opening of Canopy by Hilton San Francisco SoMA .