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THE BAIRD/STR HOTEL Stock Index jumped 16.4 percent in the first month of 2023, according to STR. A drop in recession fears and other factors gave investor confidence a boost, the research firms said. In January, the Baird/STR Index surpassed both the S&P 500, up 6.2 percent and the MSCI US REIT Index, increased 10.5 percent, STR said in a report. The index dropped 10 percent in December, and it was down 15 percent for 2022. According to STR, the Hotel Brand sub-index increased 16.2 percent from December to 10,342, while the Hotel REIT sub-index rose 17.1 percent to 1,216. "Hotel stocks rebounded sharply in January and were significant outperformers as the back-and-forth recessionary concerns once again subsided to start the year," said Michael Bellisario, senior hotel research analyst and director at Baird. "Industry-wide RevPAR trends finished the year on a strong note despite tougher calendar comparisons and weather-related travel disruptions in December. Several Hotel REITs provided fourth-quarter operational updates, and performance generally was in line with prior expectations. More broadly, investor sentiment has improved, which boosted stock prices across the board in January, but the macroeconomic indicators have remained mixed."

THE VETERAN'S DAY calendar shift led to mixed year-over-year performance comparisons for the U.S. hotel industry in the second full week of November, according to CoStar. Tampa, Florida, saw the most improved performance among the top 25 markets. Occupancy rose to 63.3 percent for the week ending Nov. 16, up from 62.6 percent the prior week and a 1.5 percent year-over-year increase. ADR dropped to $154.96 from $156.11, reflecting a 1.1 percent year-over-year decline. RevPAR grew to $98.11 from $97.73, showing a 0.4 percent increase compared to the same week in 2023. Continued displacement demand from Hurricane Milton led to Tampa seeing the largest increases across each of the performance metrics, with occupancy rising 30.3 percent to 87.2 percent, ADR up 17.4 percent to $176.73 and RevPAR increasing 52.9 percent to $154.16.

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Occupancy was 62 percent for the week ending April 16, down from 66.4 percent the week before and down 5.6 percent from 2019. ADR was $147.25 for the week, down from $150.45 the week before and up 14.4 percent from 2019. RevPAR reached $91.25 during the week, down from $99.93 the week before and up 8 percent from three years ago. Among STR's top 25 markets, Tampa saw the highest occupancy increase over 2019, up 3.2 percent to 76.6 percent. Phoenix posted the largest ADR increase in the week, up 33.8 percent to $189.16, over 2019.

THERE WAS A slight slip in U.S. hotel performance in the third week of October compared to the week before, according to STR. However, numbers improved during the week when compared to 2019. Occupancy was 69.9 percent for the week ending Oct. 22, down from 70.3 percent the week before and down 0.5 percent from 2019. ADR was $157.43 during the week, slightly dropped from $157.52 the week before and up 16.7 percent from three years ago. RevPAR reached $110.11 in the third week of Oct. 22, just dipped from $110.78 the week before and up 16.1 percent from 2019. Among STR's top 25 markets, Tampa reported the largest increase in occupancy during the week, up 7.4 percent to 75.9 percent and RevPAR, increased 39.2 percent to $117.28, over 2019. It has been one of the markets in Florida that have seen a performance lift associated with post-Hurricane Ian demand.

STONEHILL PACE, THE Property Assessed Clean Energy financing division of Stonehill, has provided $16.3 million in its first commercial property assessed clean energy (C-PACE) financing in Washington, a statement said. The loan is for the Cornus House, a new 199-unit multifamily project with 1,233 square feet of retail development in Tacoma, Washington. The C-PACE financing is over a 30-year term and will fund lighting, covered process, seismic and qualifying soft costs, according to Stonehill PACE. The project development is expected to start before the year end and is scheduled to be finished by Nov. 1, 2024. "For eligible projects, C-PACE financing remains one of the more attractive venues to get a project over the finish line," said Jared Schlosser, Stonehill's senior vice president and head of Stonehill PACE. "The Cornus House is a great project in a strong market led by a savvy ownership group with 30-plus years of commercial real estate experience and a portfolio of more than 800 apartments. This C-PACE financing is the final piece to complete the financing puzzle."

A JOINT VENTURE between NewcrestImage and Hospitality Capital Partners recently acquired 16 hotels for $137.3 million from Service Properties Trust, a Massachusetts-based REIT. The deal includes a total of 2,155 rooms in nine states. The portfolio consists of 13 Courtyard and three Residence Inn hotels by Marriott hotels, which are in Georgia, Massachusetts, New York, North Carolina, Oklahoma, Pennsylvania, South Carolina, Texas and Virginia. Eleven of the properties underwent major renovations between 2018 and 2019, the company said in a statement. "This transaction suits our company's style of strategically acquiring properties with strong fundamentals, especially during times of a difficult or slowed down economy," said Mehul Patel, managing partner and CEO, NewcrestImage. "It's an opportunity for our joint venture with NewcrestImage to add revenue immediately, while also growing long-term profit potential and asset value," said HCP principals Keith Mishkin and Primo Parmar. The transaction was handled by Al Calhoun and Mark Fair at CBRE in Atlanta. "Closing this transaction was particularly satisfying given the size of the deal and the challenges we're facing in the debt markets," added Al Calhoun, vice chairman with CBRE Hotels in Atlanta. "We were able to complete this transaction by breaking it up into three deals with three different lenders. These lenders had great confidence in the sponsorship and the quality of the brands and markets."

IHG HOTELS & RESORTS reported a 23 percent increase in profit from reportable segments in 2023, surpassing the $1 billion milestone for the first time. The company also noted a 16.1 percent rise in RevPAR, a 5.1 percent increase in ADR, and a 6.4 percentage point uptick in occupancy during the previous year. It anticipates returning more than $1 billion to shareholders through dividends and share buybacks this year, IHG said in a statement. "Travel demand was strong across all markets, with RevPAR up 16 percent from last year and 11 percent ahead of the 2019 pre-pandemic peak," said Elie Maalouf, IHG Hotels & Resorts' chief executive officer. "Combined with the power of our enterprise and efficient operating model, profit from reportable segments grew by 23 percent, exceeding one billion dollars for the first time, and adjusted EPS grew by 33 percent." This marks one of the company's most significant quarters for development activity, IHG said. The company reported full-year revenue of $4.62 billion, marking a nearly 19 percent increase from $3.89 billion in 2022.

THE KABANI HOTEL Group arranged the off-market sale of a 110-room independent hotel in Miami Springs, Florida, for $16.2 million, or $147,272 per room. The 110-room, six-story property, recently updated, is near Miami International Airport and nine miles from Brickell and Downtown Miami. Kabani, led by Ahmed Kabani as president and CEO, and Luis Garino as a partner, brokered the sale of the 1986-built property on behalf of the seller. Despite the current headwinds in the market, such as elevated interest rates and rising insurance costs, we were able to source an international institutional buyer with the capacity to close the deal on favorable terms and aggressive pricing, Kabani Hotel said in a statement.

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THE NUMBER OF U.S. hotel rooms under construction in June reached its highest level in 16 months, according to CoStar. The construction volume increased year-over-year for four consecutive months, with upscale and upper midscale segments dominating pipeline activity. "The number of rooms in construction has grown year-over-year for four consecutive months," said Isaac Collazo, STR's vice president, analytics. "While upscale and upper midscale continue to dominate, accounting for about 50 percent of all rooms in the final phase of the pipeline, the pace of activity in these segments has slowed compared to last year. Midscale and economy have shown the most growth, up 42 percent and 34 percent, respectively, with newer brands and extended-stay accounting for most of the new construction across the midscale segment." Approximately 157,713 rooms were under construction in June, up 5.5 percent from the same month last year. Additionally, 266,619 rooms were in the final planning phase, a 9.8 percent increase from June 2023. The planning stage saw 333,827 rooms, a rise of 38.7 percent compared to the previous year.

HOTEL BOOKINGS FOR Easter 2025 are up 16.8 percent from the same period last year, according to SiteMinder, a hotel distribution and revenue platform. The data, comparing bookings at the same properties across nine markets 30 days before Easter in 2024 and 2025, shows stronger demand, earlier bookings and growing interest in international travel. These global trends are mirrored in the U.S., where SiteMinder data showed a 14.98 percent rise in Easter weekend bookings as of March 18-an average of 3.6 more reservations per property compared to the same period in 2024. "With Easter falling later this year than in 2024, we're not just seeing stronger travel demand-we're seeing travelers rethink how they plan," said James Bishop, SiteMinder's vice president for ecosystem and strategic partnerships. "Earlier bookings and a rise in international travel are shaping this year's trends, with the later holiday creating more favorable conditions in many regions. But flexibility remains key-historically, domestic travelers tend to book closer to arrival, meaning the final guest mix and pricing dynamics could still evolve in the coming weeks."

CHOICE HOTELS INTERNATIONAL reported a 16 percent year-over-year increase in net income to $299.7 million in 2024 and a 12 percent rise in adjusted EBITDA to a record $604.1 million, exceeding its full-year guidance. The company's global system size grew 3.3 percent to 653,810 rooms, including 4.3 percent growth in its domestic upscale, extended-stay and midscale portfolio. It opened 407 hotels globally in 2024, a 21 percent increase, including its 515th extended-stay hotel in the fourth quarter, Choice said in a statement. "Choice Hotels generated another year of strong results in 2024, exceeding the top end of our earnings guidance and delivering a 4.3 percent year-over-year net increase in our more revenue-intense domestic rooms portfolio, a testament to the success of our growth strategy," said Patrick Pacious, Choice president and CEO. "In 2024, we also successfully relaunched four brands, expanded our partnerships business, increased our international footprint, achieved record organic rewards program growth, and unlocked new value through additional ancillary revenue opportunities."

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Mark Sergot is InterContinental Hotels Group's new vice president for global sales operations and enablement. Previously he was chief sales officer for Associated Luxury Hotels International. Sergot spent 16 years at FRHI Hotels & Resorts, the parent company of the Fairmont, Raffles & Swissotel brands. He became FRHI's senior vice president for its global sales organization. He will be based on the company's Americas headquarters in Atlanta and report to global sales Vice President Derek DeCross.

REVPAR FOR U.S. hotels recovered to 83.2 percent of 2019 levels in 2021, according to STR. Also, in December 2021, ADR and RevPAR hit all-time highs. U.S. hotel occupancy in 2021 was 57.6 percent, down 12.6 percent when compared to 2019. ADR for the year was $124.67, down just 4.8 percent from 2019. RevPAR at $71.87, down 16.8 percent when compared to two years ago. "In addition to 2020, U.S. hotel occupancy failed to reach 60 percent for just the second time since 2011," STR said. "On a nominal basis, 2021 ADR was the fourth highest on record. The country's RevPAR level was its second lowest in eight years behind only 2020." According to the report, none of the top 25 markets experienced an occupancy increase last year over 2019. Tampa reported the highest occupancy at 68.4 percent, down 5.2 percent from 2019. The largest ADR increase in 2021 was in Miami, up 14.7 percent to $223.49, compared to 2019. Norfolk/Virginia Beach registered the highest growth in RevPAR, up 7.7 percent to $72.31.

AS A RESULT of a larger impact from the Omicron variant, U.S. hotel occupancy worsened in the second week of January in comparison with pre-pandemic levels, according to STR. However, occupancy was higher than the previous week on an absolute basis. Occupancy was 48.8 percent for the week ending Jan. 15, up from 45.4 percent the week before and down 16.3 percent from the comparable week in 2019. ADR was $122.12 for the week, up from $119.92 the week before, but down 1.6 percent from two years ago. RevPAR reached $59.57, up from $54.47 the prior week and down 17.6 percent from the same period two years ago. According to STR, ADR and RevPAR were up week over week and when indexed to 2019.

U.S. HOTEL PERFORMANCE increased from the previous week and showed improved comparisons year-over-year, according to STR. Meanwhile, U.S. occupancy reached the second highest level for any week this year. Occupancy came in at 67.5 percent for the week ending May 20, up from 65.1 percent the week before and down 1.5 percent over the comparable week in 2022. ADR was $158.53, up from $154.90 the previous week, and increased 3.6 percent from 2022. RevPAR stood at $106.98 in the recent week, jumped from $100.81 the week before and increased 2.1 percent against the same period in 2022. Among the top 25 markets, Washington, D.C., saw the highest year-over-year increases in each of the three key performance metrics: occupancy rose 9.3 percent to 83.2 percent, while ADR increased 16.2 percent to $220.58. RevPAR also rose 27 percent to $183.60. Furthermore, the weekly occupancy level was the highest in the market since the start of the pandemic, STR said.

U.S. HOTEL PERFORMANCE during the second week of September increased from the previous week, according to CoStar. Yearly comparisons also were mostly up. Occupancy was 67.7 percent for the week ending Sept. 16, up from 60.3 percent the week before but down 2.2 percent from the same time last year. ADR was $161.15 for the week, up from $150.66 the previous week and up 2.3 percent from the previous year. RevPAR for the week was $109.07, up from $90.86 weekly and up 0.1 percent from 2022. Among the top 25 markets, Oahu Island, Hawaii, saw the largest year-over-year occupancy increase, up 7.4 percent to 83.6 percent. San Francisco saw the highest jumps in ADR, up 39.7 percent to $345.78, and RevPAR, which rose 33.9 percent to $271.19, due in part to attendance of Dreamforce 2023.

U.S. HOTEL PERFORMANCE was down in the third week of January compared to the week before on account of the Martin Luther King Jr. holiday, according to STR. Occupancy was 54.2 percent for the week ending Jan. 21, slightly down from 54.8 percent the week before and decreased 6.2 percent from 2019. ADR was $140.16 during the week, dropped from $144.81 the week before and up 11.3 percent from three years ago. RevPAR reached $75.97 in the third week, decreased from $79.38 the week before and up 4.4 percent from January 2019. Among STR's top 25 markets, Tampa reported the highest increase over 2019 in all metrics during the week, with occupancy up 6.8 percent to 78.8 percent, ADR rising 31.9 percent to $174.78 and RevPAR up 41 percent to $137.76.