Marriott Pushes M Clubs and Courtyard Resorts as New Offerings

25.08.2023 - 13:56 / skift.com / Sean Oneill

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.

JP Morgan gave some takeaways from their recent JP Morgan Gaming and Lodging Forum. Lodging demand remains consistent with any concern of deterioration stemming from headline economic risk not yet manifesting in fundamentals. JPM said the leisure segment remains resilient while group continues its recovery momentum. They noted that both Hyatt and Wyndham highlighted exposures to sub-segments less tiled to cyclical demand, indicating some cushion amid the challenged economic backdrop. Hotel management teams expect Chinese and Japanese consumers will provide a boost to occupancy in U.S. urban and coastal markets.

Baird reported on something we touched on recently, insider buying at lodging companies. As we pointed out, Pebblebrook Hotel Trust is seeing the most activity by their CEO, recently spending $1.3 million to buy 90,000 shares. Chatham Lodging Trust’s CEO just bought 10,000 shares and their COO bought, too. Baird also said Apple Hospitality saw a director buy 1,000 shares. Insiders selling is a normal occurrence with Playa Hotels once again in the lead with the usual selling by one director (140,000 shares this time) and two officers selling a total of 47,000 shares.

According to a new report, “How Travel Managers Will Succeed in 2023”, from the Global Business Travel Association and Spotnana, a majority of the U.S. corporate travel buyers expect their company’s business travel to ramp up and return to pre-pandemic levels by the end of 2023. Only one in five travel managers say their companies have begun to limit business travel. Some key highlights from the report include: When asked which tasks they dedicate more time to now compared to before the pandemic, travel managers most frequently cited traveler communications / answering questions and overseeing their travel management company relationship.

Skift Take: Trends in insider buying and selling can provide clues to future company prospects.

Red Roof will open 50 properties, new builds and conversions, in 2023, representing 60% year-on-year growth. New Red Roof PLUS+ properties will be in cities including Brooklyn, NY; Jamaica, NY; Virginia Beach, VA; San Antonio, TX; and Belleville, MI. As the Red Roof brand draws closer to 700 properties systemwide, the company is also launching a new dual-branded prototype, offering franchisees an additional Red Roof option: Red Roof Inn and HomeTowne Studios, on the same property, with 150 rooms, a centralized reservation system, and shared labor.

AD1 Global Hotels LLC is offering a 1,210-key portfolio of seven