Here are the top stories from the Daily Lodging Report newsletter in the past week. Get news on hotel deals, development, stocks, and career moves. Sign up here now.
Analysts Pare Back Enthusiasm for Hotel Companies
25.08.2023 - 13:15 / skift.com / Sean Oneill / Morgan Stanley
Here are the top stories from Daily Lodging Report in the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.
Last week, we noted that analysts for Morgan Stanley modestly sliced their price targets on several lodging companies. This week, a few other analysts at other firms made similar moves largely out of concern with leisure demand trends being softer than expected.
Barclays said with headline revenue per available room (RevPAR), a key industry metric, below their prior growth expectations, they expect some REITs (real estate investment trusts) will be disproportionately impacted. Names its analysts are wary about include Pebblebrook Hotel Trust and DiamondRock.
Oppenheimer‘s analysts pared back their price targets on most of the lodging stocks they cover. They cut Chatham Lodging Trust’s price target to $12 from $14, RLJ Lodging Trust to $13 from $15, Braemar to $5 from $6, and Apple Hospitality to $19 from $21.
JP Morgan lowered 2024 estimates on Wyndham Hotels & Resorts to reflect the softer U.S. economy and midscale chains scale segment results. Wyndham estiamted revenue per available room to be down 1% quarter to date. Wyndham’s hotels in these segments account for 96% of its domestic U.S. rooms base and 56% of its worldwide rooms portfolio.
The analyst moves need to be kept in perspective. Barclays remained bullish on Apple Hospitality, which they said would outperform as its segments (upscale, limited service) are still up year over year. Oppenheimer maintained its “outperform” ratings on all these companies. JP Morgan continues to be relatively positive on Wyndham, too.
We interpret these decisions to mean that analysts believe the hotel sector may be comparatively more resilient than other sectors during macroeconomic choppiness.
Thailand is an attractive area for hotel groups to invest in as its tourism sector rebounds post-pandemic. The Association of Thai Travel Agents is predicting the return of Chinese tourists will contribute to the country’s international visitor goal of 30 million this year.
Radisson Hotel Group told the media they will open more premium and luxury hotels in Thailand over the next five years. The Radisson RED Phuket Patong Beach, Radisson Resort Phuket Mai Khao Beach, and Radisson Hotel Ploenchit Bangkok are scheduled to open early next year. In the past 12 months, RHG has added seven new hotels in Thailand with over 1,300 rooms.
Wyndham Hotels & Resorts said they expect to open more than 15 hotels with 5,000 additional rooms in Thailand across multiple brands. Wyndham currently has 22 properties in Thailand.
IHG Hotels & Resorts announced the signing of Hotel Indigo Bangkok
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
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skift.com
28.08.2023 / 12:29
Hilton to More Than Double Its Luxury Hotel Footprint in Asia Pacific
From today’s Daily Lodging Report newsletter: Nikkei Asia published an article on Hilton planning to expand its luxury offerings in Asia. Hilton will be bringing its Waldorf Astoria brand to Malaysia, Vietnam, India, and other countries for the first time as part of its plans to open 25 new luxury hotels in the Asia Pacific region over the next few years. That’s up from the 33 luxury hotels it currently runs in the Asia Pacific.
skift.com
28.08.2023 / 07:03
5 Hotel Storylines CEOs of Hilton, Hyatt, and Other Top Brands Are Tracking Now
Can hotels exert more influence in policy-making? Where will future development growth come from? Is generative AI relevant to the hotel sector? These and other subjects will be top of mind for us as we interview top bosses at Hilton, Hyatt, Accor, and other hotel leaders on-stage at the Skift Global Forum in New York on September 26-28.
skift.com
25.08.2023 / 14:42
Soho House Founder to Retire From CEO Role; Company Cutting Back Growth Ambitions
Nick Jones said on Wednesday that he would step down from being CEO of Membership Collective Group nearly three decades since he founded the original Soho House that eventually led to the creation of the public company and owner of the Soho House chain.
skift.com
25.08.2023 / 14:42
India's Hotel Supply Is Less Than Demand as Development Tries to Catch Up
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skift.com
25.08.2023 / 14:34
Atour Goes Public to Expand Lifestyle Hotel Trend in China
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skift.com
25.08.2023 / 14:29
Global Hotel Investment Volume Decelerated in 2022
While 2022 was a post-pandemic boom year for hotel demand in much of the world, total global hotel investment volume decelerated slightly to $71.9 billion, a decline of 2 percent relative to 2021. The relative lack of outbound Chinese hotel investment, the Russian war in Ukraine, and recessionary pressures in several markets tamped down the pace of growth.
skift.com
25.08.2023 / 14:23
Davidson Kempner Buys 18 Hotels in Portugal
Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.
skift.com
25.08.2023 / 14:11
Hyatt Hotels Expects Room Rate Rebound to Roll On Through 2023
Hyatt Hotels Corp., which enjoyed a blockbuster financial performance in 2022, forecasted Thursday continued success this year, especially in the first half. The company expects to benefit from growing consumer interest in its lifestyle, luxury, and resort properties, returning group reservations for its banquet halls, and an expanding room count.
skift.com
25.08.2023 / 14:09
IHG Expects Hotel Rates to Stay Strong Thanks to Digital Investments
For InterContinental Hotels Group (IHG), soaring hotel rates owing to a post-pandemic surge in pent-up demand for travel have been a boon after the pandemic bludgeoned the travel sector. But IHG Hotels & Resorts said its pricing power would last beyond the present moment thanks partly to its investments in digital technology. The company also anticipated future growth as China, the world’s second-largest economy, reopens.
skift.com
25.08.2023 / 14:09
China to Power Global Hotel Development in 2023
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skift.com
25.08.2023 / 14:04
Winning and Losing Countries in the Hotel Revenue-Per-Room Race
Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.