Red Roof Tells Franchise Owners It Is Positioned for Growth
Skift Take
- The DJIA fell 211 points while Nasdaq was down 127, the S&P 500 fell 36 points and the 10 year treasury yield was up .05 to 3.87%. Lodging stocks were modestly lower. SLNA was the big mover, down -7%.
- B.Riley lowered its price target for Braemar Hotels & Resorts to $9 from $12; on Ashford Inc. to $18 from $23 and on Ashford Hospitality Trust to $9 from $12.
- Red Roof held its 2022 Brand Conference, telling their franchise owners they are positioned for long-term growth.
The DJIA fell 211 points while Nasdaq was down 127, the S&P 500 fell 36 points and the 10 year treasury yield was up .05 to 3.87%. Lodging stocks were modestly lower. SLNA was the big mover, down -7%.
B.Riley lowered its price target for Braemar Hotels & Resorts to $9 from $12; on Ashford Inc. to $18 from $23 and on Ashford Hospitality Trust to $9 from $12. BHR and AHT were both down -5% while AINC was up 3%.
Red Roof held its 2022 Brand Conference, telling their franchise owners they are positioned for long-term growth though state-of-the-art technology, strategic partnerships, new prototypes, and its ESG program Purposed with Heart, ultimately enhancing the guest and owner experience. Company performance highlights include: Revenue for 2021 was 16% higher than 2019. Revenue for the Red Roof brand from January through September 2022 increased 10% year over year, and RevPAR is up
