India’s Hotel Supply Is Less Than Demand as Development Tries to Catch Up

Daily Lodging Report

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While Travel + Leisure’s stock price rebounded a little bit after Thursday’s earnings-induced decline, Credit Suisse lowered the boom on them. CS cut the company's stock to Underperform from Outperform and lowered the price target to $31, from $77.

Brookfield is acquiring the Ritz-Carlton San Francisco and hotels in Wine Country and San Jose as part of its multibillion-dollar acquisition of Watermark Lodging Trust. Private funds managed by Brookfield Asset Management now control 1,072 hotel rooms across the Bay Area, including the Ritz (336 rooms), the San Jose Marriott (510 rooms) and the Fairmont Sonoma Mission Inn & Spa luxury resort (226 rooms), reported the San Francisco Business Times.

An Arkansas hotelier may soon kick off its planned $73 million transformation of a 109-year old historic building in Kansas City, Missouri. Beechwood Pinnacle Hotels is expected to start construction on its conversion of the 13-story Rialto Building into a 240-room AC Hotel by Marriott - the AC Rialto - late this year, the Kansas City Business Journal reported. The hotel is slated to open next year with a first-floor restaurant and bar, meeting space, and a gym.

Skift Note: There's been a disconnect this third-quarter earnings season between the optimism and strong numbers reported by hotel companies and the relative cautiousness of investment analysts about next year's outlook.