Canada’s Hotel Pipeline for Q2 2022
Skift Take
- The DJIA fell 58 points, Nasdaq was down 151, the S&P 500 was down 18 points, and the 10-year treasury yield was up .03 to 2.80%.
- The second half of the earnings season included a sparkler from Hyatt, while IHGwent back to returning money to shareholders with dividends and up to $500 million in share buybacks.
- According to the recently released Q2 2022 Canada Construction Pipeline Trend Report from Lodging Econometrics, at the close of the quarter, the total construction pipeline in Canada stands at 261 projects.
The DJIA fell 58 points, Nasdaq was down 151, the S&P 500 was down 18 points, and the 10-year treasury yield was up .03 to 2.80%. The calm was nice while it lasted. Lodging stocks were mixed.
The second half of the earnings season included a sparkler from Hyatt, while IHG went back to returning money to shareholders with dividends and up to $500 million in share buybacks. Marriott Vacations also added $500 million to their buyback, while Hilton Grand Vacations met on revenue, beat on adjusted EBITDA by a wide margin.
We start out on a sad note as it was announced that Corry W. Oakes III, the CEO, who was also a co-founder, of OTO Development passed away unexpectedly on August 7. Oakes, Todd Turner and Jim Ovenden provided the initials to name the hotel development and hospitality management company they founded alongside George Dean Johnson Jr. and the late H. Wayne Huizenga in May 2004. OTO Development is par
