IHG and RUI Announce Plans for Yucatan Peninsula
Skift Take
- Lodging stocks were mixed. AINC was up 5% while the biggest mover was to the downside with VCSA falling -14%.
- Morgan Stanley lowered their price target on Airbnb to $105 from $125. MS maintained their Equal Weight rating.
- Xenia Hotels & Resorts sold the 115-room Celebration Hotel to Vision Hospitality Group.
The DJIA was up 418 points while Nasdaq was up 93, the S&P 500 was up 45 points while the 10 year treasury yield was up another .02 to 4.23%. Lodging stocks were mixed. AINC was up 5% while the biggest mover was to the downside with VCSA falling -14%.
Morgan Stanley lowered their price target on Airbnb to $105 from $125. MS maintained their Equal Weight rating.
Xenia Hotels & Resorts sold the 115-room Celebration Hotel to Vision Hospitality Group. The Orlando, Florida Marriott-brand hotel sold for at least $19.4 million, based on deed taxes on the public record. The deed shows the deal closed on October 20 with IA Lodging Celebration, an entity tied to Xenia Hotels & Resorts.
According to the property’s website, The Yorktowne Hotel, Tapestry Collection by Hilton in Pennsylvania plans to open on November 17. Yorktowne was closed in November 2016
