International Visitors to the U.S. Bring in New Highs
Skift Take
- The DJIA rose 334 points, Nasdaq was up 52, the S&P 500 rose 21 points and the 10 year treasury yield was down .09 to 4.13%.
- Apple Hospitality reported a modest beat with RevPAR up 7.5% versus 3Q19. In September and October APLE bought back a modest amount of stock just above $14 a share.
- Sunstone Hotel Investors reported a slight 3Q beat. SHO continues to be a buyer of their own stock under $10.
The DJIA rose 334 points, Nasdaq was up 52, the S&P 500 rose 21 points and the 10 year treasury yield was down .09 to 4.13%. Lodging stocks were modestly higher. SLNA was higher for a second day, up another 11%, while VCSA was up 5%.
Apple Hospitality reported a modest beat with RevPAR up 7.5% versus 3Q19. In September and October APLE bought back a modest amount of stock just above $14 a share. YTD they have bought back $2.7 million worth of stock but recall they upped their monthly dividend on their stock twice in the past few months.
Sunstone Hotel Investors reported a slight 3Q beat. SHO continues to be a buyer of their own stock under $10, with $20 million purchased at an average of $9.73 a share in 3Q and through last week in 4Q.
Barclays called Chatham Lodging Trust’s 3Q results one of the strong prints within the lodging subsector. CLDT has not been giving guidance and they
