Lodging Stocks Hit New Lows While RevPAR Continues to Impress
Skift Take
- The Fed Sell Off continues in the financial markets as the DJIA fell another 486 points on Friday, Nasdaq was down 199, the S&P 500 fell 65 points and the 10-year treasury yield was down .01 to 3.70%.
- In New York City, the Skift (parent company of this publication) conference generated a lot of headlines, the biggest one being Barry Diller of IAC once again trashing working from home.
- Lodging stocks are hitting new lows, while RevPAR continues to impress.
The Fed Sell Off continues in the financial markets as the DJIA fell another 486 points on Friday, Nasdaq was down 199, the S&P 500 fell 65 points and the 10-year treasury yield was down .01 to 3.70%. Lodging stocks were crushed again with the list of new lows getting longer. That list on Friday included WH, HT, PK, TNL, HGV, CHH, IHG, PEB, DRH, APLE and PLYA.
Amidst this terrible backdrop in the US, Skift Global Forum in New York and the Lodging Conference in Arizona were held this past week. The Arizona conference was your traditional sector conference, complete with cautious optimism being expressed by industry executives. Think about it this way: lodging stocks are hitting new lows, while RevPAR continues to impress. While there have been plenty of reports that business travel is hitting its stride, executives at this conference said the opposite, mainly that the rebound has been slower than expected
