IHG and Iberostar Enter Long-Term Commercial Agreement
Skift Take
- We may be seeing a short week slowdown already starting in the financial markets. Lodging stocks were modestly lower.
- Deutsche Bank's Gaming, Lodging, Leisure & Restaurant Conference'soverarching chorus was stability in trends and company outlooks.
- Pebblebrook Hotel Trust, in their monthly update, referenced that the end of October brought a return of seasonality.
The DJIA fell 45 points while Nasdaq was down 122, the S&P 500 fell 15 points and the 10-year treasury yield was up .01 to 3.83%. We may be seeing a short week slowdown already starting in the financial markets. Lodging stocks were modestly lower. SOND was down -6%.
Deutsche Bank gave a summary of their Gaming, Lodging, Leisure & Restaurant Conference from last week. DB said the overarching chorus was stability in trends and company outlooks. DB said as we move into the holiday season, they expect trading among the predominantly U.S.-exposed names within their Gaming and Lodging coverage sectors to be more tied to macro-economic indicators and broader equity market gyrations. They do believe domestic fundamentals within both the Gaming & Lodging sectors, remain very solid. Lodging pipelines for C-Corp’s appear to remain solid overall, with select service pipelines relatively stronger, compared to full-service pipelines. In terms of RevPAR trends, leisure is
