Core Insights - Hotel investment in 2025 saw a significant increase, with transaction volume rising 17.5% year over year to reach $24 billion, driven by strong private equity activity and improving debt markets [1][3] Investment Trends - Major cities leading transaction activity included New York City at $3.7 billion, Phoenix at $1.5 billion, and Washington, D.C. at $1.2 billion, indicating a strategic focus on key urban centers and growth markets [2] - The report highlighted an increase in foreign capital and high-net-worth individuals entering the hotel investment space, attracted by the compelling value proposition of hotels compared to other property sectors [3] Market Dynamics - The Federal Reserve's actions, particularly the reduction of borrowing costs by almost 300 basis points since September 2024, have positively influenced hotel investment activity, enabling investors to achieve positive leverage [3] - The Fed's interest rate cut in December could further encourage new investments, with potential additional rate cuts spurring more deals [4] Performance Segmentation - The hospitality industry experienced wealth bifurcation, with luxury properties seeing a RevPAR increase of 3% year over year, while midscale and economy segments faced declines of 2.8% and 4.4%, respectively [5] Future Opportunities - Upcoming events in 2026, such as the FIFA World Cup and the 250th anniversary of America, are expected to create substantial opportunities for hotels, with host cities potentially experiencing mid-double-digit RevPAR growth due to the tournament's extended duration and international appeal [6]

Summary of Global Hotels & Leisure Conference Call Industry Overview - The conference call discusses the impact of current dollar weakness on the Global Hotels & Leisure industry, particularly focusing on companies with significant international revenue exposure and those with costs denominated in different currencies. Key Points Winners from Dollar Weakness 1. **Booking Holdings (BKNG)**: - Beneficiary of dollar weakness with nearly 80% of room nights outside the US, particularly benefiting from strong Euro against the USD [2][12] - Earnings estimates increased by 2-3% due to favorable FX impact [1] 2. **Airbnb (ABNB)**: - 55% of revenues earned outside the US, with 33% exposure to Europe and 11% each to APAC and LATAM, leading to a positive earnings tailwind from USD weakness [3][12] - Earnings estimates raised by 2-3% [1] 3. **Carnival Corporation (CCL)**: - 45% of revenues generated outside the US, primarily in Europe, benefiting from favorable currency translation [3][12] - Earnings estimates increased by 2-3% [1] 4. **Other Beneficiaries**: - Hilton, Marriott, IHG, and Royal Caribbean (RCL) will also see benefits, but to a lesser extent due to limited non-USD exposure [3] Losers from Dollar Weakness 1. **Accor**: - Despite only 3% of room exposure in the US, approximately 35% of EBITDA is generated in USD while reporting in EUR, leading to a negative impact from dollar weakness [4][14] - Earnings estimates trimmed by ~3% [1] 2. **Hyatt**: - Managed resorts in the Mexican Caribbean earn revenues in USD but have costs in Mexican Pesos, leading to margin compression due to dollar weakness [5][14] - Incentive management fees are sensitive to USD/MXN exchange rates, resulting in a 3-4% headwind to earnings for 2026-2027 [5][15] Financial Implications - The overall impact of dollar weakness is expected to create a material earnings tailwind for US-denominated stocks with high non-US revenue exposure, while negatively affecting those with significant USD costs and EUR-denominated earnings [1][11] - The dollar is down MSD-high teens year-over-year against major currencies, which will have a significant impact on the earnings of companies in the travel sector [9] Investment Ratings - Despite the FX impacts, the investment ratings remain unchanged with Outperform ratings for Marriott, Hyatt, Accor, Melia, Royal Caribbean, and Airbnb [8] Additional Insights - The analysis highlights the importance of currency exposure in the hospitality sector, emphasizing that companies with significant international operations are better positioned to benefit from a weaker dollar [11][20] - The sensitivity of earnings to currency fluctuations is a critical factor for investors to consider when evaluating these companies [14][15] This summary encapsulates the key insights from the conference call regarding the impact of dollar weakness on the Global Hotels & Leisure industry, identifying both winners and losers, and providing a financial outlook for the affected companies.

Market Overview - The market in early 2026 is facing potential volatility due to a flat S&P performance, a surge in gold and silver prices, and concerns over an international selloff of U.S.-denominated assets [2] - Geopolitical tensions, both domestic and international, are contributing to the risk of stock price volatility [2] Investment Opportunities - Investors seeking defensive strategies may consider stocks with high dividend yields, which can provide protection through regular distributions [3] - Ryman Hospitality Properties Inc. (NYSE: RHP) is highlighted for its high dividend yield of 5.07%, supported by a strong cash position of $483 million in unrestricted cash and nearly $1.3 billion in total liquidity [3] - Post-pandemic demand for RHP's large hotels has been strong, with a reported 7.7% year-over-year revenue improvement in Q3 2025, and analysts expect earnings to grow by over 9% in the next year and share prices to increase by nearly 17% [4] Sector Insights - Ryman Hospitality Properties offers an appealing dividend yield and a sizable portfolio of high-demand hotel properties, with a projected 17% upside potential [5] - Other companies like Black Hills and Essential Utilities are also noted for their attractive dividend profiles and growth potential, particularly in the utilities sector [5]

Core Insights - Everhome Suites, a midscale extended stay brand from Choice Hotels International, continues to expand its national presence with recent openings in Texas, Kentucky, and New Jersey, reaching a total of 27 properties nationwide [1][2] Company Overview - Choice Hotels International, Inc. is one of the largest lodging franchisors globally, with over 7,500 hotels and nearly 650,000 rooms across 46 countries and territories, offering a diverse portfolio of 22 brands [7] Brand Development - The Everhome Suites brand is designed for guests seeking apartment-style accommodations for longer stays, featuring spacious suites with fully equipped kitchens and modern amenities [2][5] - The brand's growth strategy is supported by a redesigned prototype that integrates feedback from developers and operators, enhancing project viability and guest experience [3] Recent Openings - Everhome Suites San Antonio, TX opened in October 2025, strategically located near major employers and attractions [6] - Everhome Suites Bowling Green, KY opened in November 2025, catering to guests connected to local universities and healthcare facilities [6] - Everhome Suites Somerset, NJ opened in late December 2025, positioned near major highways and corporate offices, making it ideal for business travelers [6] Strategic Partnerships - The newly opened hotels were developed in collaboration with Highside Companies, a real estate firm with over $1 billion in active projects [3][8]

5 New York City Luxury Hotels To Check Out In 2026 https://t.co/6TLH1tcWda https://t.co/cXD40vVNtR ...

Core Insights - InterContinental Hotels Group (IHG) has successfully rebounded from the COVID-19 pandemic, focusing on expanding its Holiday Inn brand globally [1] - The hotel industry remains competitive, with rivals like Marriott and Hilton also aiming to capture market share in rapidly growing regions [2] Expansion Strategy - China is identified as a crucial market for InterContinental's growth, with over 1,400 existing or planned hotels across more than 200 cities [3][4] - The company plans to broaden its presence beyond tier-1 cities in China, enhancing its footprint in both mainland China and Taipei [4] Technological Advancements - InterContinental has appointed Wei Manfredi to lead its artificial intelligence strategy, aiming to improve IT architecture and form partnerships with tech companies [5] - AI will play a role in maximizing revenue for hotel property managers and enhancing the traveler experience through AI-powered applications [6] Market Position and Growth Potential - InterContinental's midmarket reputation in the Americas presents opportunities for improvement, particularly in luxury and premium segments [7] - Despite a recovery in travel stocks, InterContinental's performance has lagged behind competitors, indicating potential for growth initiatives to enhance shareholder returns [8]

Core Viewpoint - InterContinental Hotels Group has successfully navigated the challenges posed by the COVID-19 pandemic and has returned to a growth trajectory, achieving record revenues and profits in recent years [2][6]. Financial Performance - In 2020, InterContinental's revenue was halved compared to 2019 due to pandemic-related restrictions, leading to significant losses of $260 million [4][5]. - By 2021, as travel restrictions eased, revenue began to recover, but profitability was not fully restored until late in the year [5]. - In 2022, the company reported record revenue of $4.92 billion and a profit of $628 million, equating to $3.90 per share [6]. - The first half of 2025 has shown even stronger performance, with earnings reaching a record of $469 million, or $3 per share [6]. Industry Context - The travel and entertainment industry faced severe disruptions during the pandemic, but demand for travel-related services surged during the post-pandemic recovery, benefiting companies like InterContinental [7].

Population Growth and Economic Implications - The latest U.S. Census Bureau estimates indicate very low population growth from June 30, 2024, to July 1, 2025, suggesting potential future weaknesses in economic growth [2] - Natural population increase has been low, with fluctuations primarily driven by net migration, which is not perfectly measured [4] - Population growth in the coming years is expected to be lower than the recent gains, with net migration showing significant fluctuations during different presidential administrations [7] Labor Market and Productivity - Most immigrants are of working age but tend to be lower-skilled and earn lower wages, which means a drop in immigration has a less significant impact compared to a decline in native-born workers [5] - Low-skilled workers complement high-skilled workers, affecting overall productivity and earnings in various sectors [6] - Labor productivity growth is beginning to reflect advancements in artificial intelligence, with historical productivity gains showing variability [8] Economic Growth Forecast - With approximately zero population growth and an expected productivity growth of around two percent, inflation-adjusted GDP is projected to increase by slightly more than two percent in the near term [9] - Business planning should be slightly less optimistic than in previous years, particularly for sectors serving low-wage consumers, which will experience slower growth [10] - The economy can remain healthy with low immigration, but its size and characteristics will differ from scenarios with higher immigration levels [11]

This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. France-based hotel giant Accor has appointed Leire Leoz to the newly created role of chief franchise officer for its premium, midscale and economy division, according to a news release.  In her new role, effective Feb. 2, Leoz is tasked with optimizing Accor’s franchise strategy. She will report directly to Accor’s group deputy CEO, Jean-Jacques Morin, and will join the ...

Core Viewpoint - Atour Lifestyle Holdings Limited (NASDAQ:ATAT) is recognized as a high-growth Chinese stock, with CLSA initiating coverage and assigning an Outperform rating along with a price target of $49, emphasizing its unique features and services in the premium hotel sector [1]. Group 1: Business Model and Strategy - Atour's asset-light strategy and robust supply chain capabilities contribute to a more stable net profit, reducing volatility during periods of low revenue per available room (RevPar) [2]. - The company is leveraging its brand value through a strategic retail operation, which is expected to enhance profitability [3]. Group 2: Growth Projections - CLSA forecasts that Atour's hotel count will grow at a compound annual growth rate (CAGR) of 23% over the next five years, driven by the expansion of the Atour Light and Savhe brands [3]. - The company's EBITDA is projected to achieve a CAGR of 28% over the next three years, indicating strong financial growth potential [3]. Group 3: Company Overview - Atour Lifestyle Holdings Limited operates a rapidly expanding network of hotels and is noted as the first Chinese hotel chain to develop a scenario-based retail business, positioning itself uniquely in the hospitality and lifestyle sector [4].