STR Lifts U.S. ADR Projections
Skift Take
- Truist lowered target prices on their vacation ownership names despite publishing a positive report on their beat and raise quarters along with the continued return of capital.
- STR and Tourism Economics adjusted occupancy downward but lifted projections once again for ADR in the revised U.S. hotel forecast just presented at the Hotel Data Conference.
- Mission Hill Hospitality has acquired the Courtyard by Marriott Lenox and Hampton Inn & Suites Berkshire-Lenox, located in the heart of the Berkshire region of Western Massachusetts.
The DJIA rose 424 points on Friday while Nasdaq was up 267, the S&P 500 rose 73 points and the 10-year treasury yield was down .04 to 2.85%. Lodging stocks were higher. VCSA once again led the group, up 19%, while SOHO continued its recent rebound, up another 8% on Friday.
Truist lowered target prices on their vacation ownership names despite publishing a positive report on their beat and raise quarters along with the continued return of capital. They lowered BVH to $56 from $57, HGV to $63 from $64, TNL to $72 from $78 and VAC to $202 from $205. Considering all the positives, Truist is just reacting to what they call investor interest in the sector being lukewarm. They also do not believe it is unreasonable to expect 2023 growth rates to decelerate from this year’s extraordinary levels.
STR and Tourism Economics adjusted occupancy downward but lifted projections once again for ADR in the revised U.S. h
