Summer-to-Fall Lodging Habits Look Different in 2022
Skift Take
- In a very wild session with a 1500-point swing, the DJIA ended the day up 827 points while Nasdaq was up 249, the S&P 500 rose 98, the 10-year treasury yieldwas up .05 to 3.95% and lodging stocks were higher.
- In an excerpt from CoStar, the transition from the summer to fall travel seasons has been different than in the past years, according to some U.S. hoteliers, who are adjusting strategies for selling hotel rooms to meet the new demand.
- Hotel Equities announced the reopening of the Courtyard by Marriott in Mobile, AL.
In a very wild session with a 1500-point swing, the DJIA ended the day up 827 points while Nasdaq was up 249, the S&P 500 rose 98, the 10-year treasury yield was up .05 to 3.95% and lodging stocks were higher. The star of the day was SVC, up 27% as they declared a $0.20 a share dividend, their first real, not token, dividend since the pandemic. They also commented they had over $750 million of liquidity after the dividend payment. SOND was up 11%, BHR and VCSA were up 8% each and XHR rose 5% on the day.
In an excerpt from CoStar, the transition from the summer to fall travel seasons has been different than in the past years, according to some U.S. hoteliers, who are adjusting strategies for selling hotel rooms to meet the new demand. Spire Hospitality said demand across their hotels dipped in the last two weeks of August and the first week of September. However, in terms of fall leisure transient demand, it has be
