Subdued Tone Among Hotel REITs at Nareit Conference
Hotel REIT executives at Nareit showed caution due to transaction market weakness and uncertainty, with Truist citing stock frustration.
Turkey
Hyatt Launches Unscripted While IHG Doubles Conversion Signings
Hyatt launches new Unscripted brand with 40 hotels in talks. IHG sees total global conversion signings nearly doubling between 2023 and 2024.
Asia Pacific to See 813 Million International Travelers a Year by 2027
International visitor arrivals, under PATA's medium scenario, to Asia Pacific are projected to reach 813 million by 2027.
U.S. Lodging REITs Hit 52-Week Lows as Markets Face Uncertainty
Yet the hotel industry continues to expand globally with multiple new properties and several boutique hotel openings.
Regent Hotels Returns to the U.S.
The Regent Santa Monica Beach opened on October 1 as Regent's first U.S. hotel since IHG's 2018 acquisition, following a $150 million renovation.
Blackstone and AAHOA Invest in M3 Hotel Software
M3, LLC has secured a majority investment from Blackstone Growth, with AAHOA also investing, to accelerate its growth and expand its hotel management software.
U.S. Shows Increase in Hotel Pipeline Activity
The Americas is the only region to show an increase in hotel construction and development activity in the first quarter of 2024, contrasting with declines or slower growth in Europe, Asia Pacific, and the Middle East and Africa.
Global Hotel Markets See Average Daily Rate Increases
Hotel growth in February was balanced with 64% of markets showing increased occupancy and 70% achieving a higher ADR than last year.
Red Roof Tells Franchise Owners It Is Positioned for Growth
The DJIA fell 211 points while Nasdaq was down 127, the S&P 500 fell 36 points and the 10 year treasury yield was up .05 to 3.87%. Lodging stocks were modestly lower. SLNA was the big mover, down -7%.
B.Riley lowered its price target for Braemar Hotels & Resorts to $9 from $12; on Ashford Inc . to $18 from $23 and on Ashford Hospitality Trust to $9 from $12.
Red Roof held its 2022 Brand Conference, telling their franchise owners they are positioned for long-term growth.
Playa Hotels Says Demand Is Strong
The D JIA was up 36 points, Nasdaq was down 116, the S&P 500 fell 24 points and the 10 year treasury yield is knocking on the door of 4%, up .05 to 3.94%.
Truist Securities reported on investor meetings they held with Playa Hotels & Resorts management. Demand trends were among the most discussed topics but management saying business on the books looks great, reiterating the strength of demand .
Pacifica Hotels announced the $32.9 million purchase of the Kimpton Hotel Vintage Portland .