Hotel Growth in the Philippines Set for a Luminous Future

Daily Lodging Report

Skift’s Daily Lodging Report is a subscription-required, email-only newsletter read by anyone and everyone in the hotel investor, owner, and operator space, including CEOs of some of the industry’s top brands. It covers North America and Asia Pacific with two separate regional editions.

Learn More

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.

Deutsche Bank Research said the lodging sector still had green shoots lingering as it relates to group and business transient travel. But they are taking a cautious approach to 2023 as they believe current consensus forecasts embed a continued recovery in both group and business transient demand to and through 2019 levels while valuation multiples resemble earlier cycle multiples, relative to DB’s view the sector is actually late in an abbreviated cycle. Further, DB does not believe macro factors are present in either 2023 forecasts or valuations. That includes corporate cost scrutiny in a recessionary environment or shrinking household savings. DB believes HLT and CHH represent better, relative risk rewards in 2023 even as investors have prioritized operating leverage among H and MAR. DB also questioned the aggressive share repurchase capital return moves by companies like HLT and MAR in this current environment. DB is forecasting 2023 US industry RevPAR growth of 1.6% with demand growth of 3.9% and supply growth of 0.8%.

The Wall Street Journal published a very positive article on Hilton, including an interview with CEO Chris Nassetta. The summary is that Nassetta said their hotels are busy worldwide as travel restrictions ease. He also feels Covid-19 likely caused people to renew a priority for in-