CBRE Says ADR Will Moderate in Second Half of Year
Skift Take
- The equity indexes have really calmed down while treasuries get really volatile. Lodging stocks were higher. AINC was the big mover, up 11%.
- SMBC Nikko cut its rating on Park Hotels & Resorts to Neutral from Outperform. Its price target is $16.
- The CBRE Hotels Research State of the Union showcases current demand trends, as well as fundamentals by segment, location type and chain scale.
The DJIA rose 29 points while Nasdaq was down 13, the S&P 500 fell 5 points, and the 10-year treasury yield was down .08 to 2.73%. The equity indexes have really calmed down while treasuries get really volatile. Lodging stocks were higher. AINC was the big mover, up 11%.
SMBC Nikko cut its rating on Park Hotels & Resorts to Neutral from Outperform. Its price target is $16.
The CBRE Hotels Research State of the Union showcases current demand trends, as well as fundamentals by segment, location type and chain scale. Key takeaways from the report include: nominal consumer credit card balances are at an all-time high, and at a ratio of 2 to 1, the number of job openings to job seekers is the highest in 20 years. CBRE forecasts a steep decline in GDP growth. Inflation is expected to remain elevated through the end of the year, and unemployment is expected to increase. For now, ADR continues to o
