New York City Continues Its Hotel Recovery
Skift Take
- The DJIA fell another 313 points, Nasdaq was down 110, the S&P 500 was down 44 points and if you thought mortgages were high before, the 10-year treasury yieldwas up another .08 to 3.57%.
- Playa Hotels & Resorts announced its board of directors reauthorized the repurchase of up to $100 million of the company’s outstanding shares.
- According to Hodges Ward Elliott's Q2 report, the New York City hospitality sector continues its recovery as travel surges and hotels reopen.
The DJIA fell another 313 points, Nasdaq was down 110, the S&P 500 was down 44 points and if you thought mortgages were high before, the 10-year treasury yieldwas up another .08 to 3.57%. Lodging stocks were lower. PLYA was the one difference with investors buying into the share repurchase announcement, up 6%. Have they seen the list of insider selling the past few months? AINC was down -8% and SOND fell -6%.
Playa Hotels & Resorts announced its board of directors reauthorized the repurchase of up to $100 million of the company’s outstanding shares.
According to Hodges Ward Elliott's Q2 report, the New York City hospitality sector continues its recovery as travel surges and hotels reopen. Major highlights from the report include the following: According to Expedia’s Q1 2022 Travel Recovery Trend Report, New York is one of the top 10 cities in terms of total bookings across all regi
