Lodging Daily News

HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 3.6 percent in August to a level of 5,856. “Hotel stocks pulled back and underperformed in August with Hotel REITs the laggards,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The Hotel REITs posted their worst month of the year due to weak second-quarter earnings reports, reduced full-year guidance expectations, and several weather-related impacts across the country during the month; relative performance would

ATLANTA, Georgia—Valor Hospitality Partners, a global hotel management company, has announced the acquisition of its second property in Duqm, Oman—marking seven total properties in the Middle East and expanding Valor Hospitality’s Middle East portfolio to 1,200+ keys and brings the Oman portfolio to 300+ keys. In partnership with Marriott International, the boutique property will be branded Four Points by Sheraton and owned by Ezz Assas International and will open in 2024.   The Four Points by

CHICAGO—Hyatt Hotels Corporation announced the continued growth of the Hyatt Place and Hyatt House brands throughout 2023. This growth includes expanding the brand’s footprint in the United States in new markets where there are no Hyatt hotels and the expansion of airport locations in key markets. The news comes on the heels of Hyatt announcing progress in the development of the Hyatt Studios brand, the latest select service brand in the Hyatt portfolio, including executed

LOS ANGELES, California—The Surfrider Malibu is now under the management of Los Angeles-based hospitality brand Casetta Group. The Surfrider, a 20-room coastal California beach house, draws inspiration for its design and amenities from the Malibu landscape and the rich heritage of California surf culture. Casetta brings forth personalized service, elevated programming, and sustainability while maintaining the bespoke hospitality that has made Surfrider a staple since the 1950s. Casetta will sustain the spirit of The Surfrider

WASHINGTON—Continuing seasonal patterns, U.S. hotel performance showed mixed results from the previous week, according to CoStar’s latest data through September 9, 2023. U.S. Hotel Performance September 3-9, 2023 Percentage change from comparable week in 2022Occupancy: 60.3 percent (down 1.9 percent)ADR: $150.66 (up 1.8 percent)RevPAR: $90.86 (down 0.1 percent) Among the Top 25 Markets, Denver saw the largest year-over-year increases in each of the key performance metrics: occupancy (up 8.0 percent to 76.3 percent), ADR (up