Braemar and Ashford Forecast Strong Fourth Quarters
Skift Take
- The DJIA rose 701 points on Friday while Nasdaq was up 264, the S&P 500 rose 87 points and the 10 year treasury yield was down .15 to 3.57%
- Braemar Hotels & Resorts Inc. expects to report occupancy of approximately 64% for the fourth quarter of 2022 with an ADR of approximately $469 resulting in RevPAR of approximately $301.
- Ashford Hospitality Trust, Inc. expects to report occupancy of approximately 68% for the fourth quarter of 2022 with an ADR of approximately $175 resulting in RevPAR of approximately $118.
The DJIA rose 701 points on Friday while Nasdaq was up 264, the S&P 500 rose 87 points and the 10 year treasury yield was down .15 to 3.57%. That is a drop of over 4% in the yield. Lodging stocks were higher with the lodging REITs leading the way thanks to two upbeat updates from BHR and AHT. BHR led the group with a gain of 9% on Friday.
Braemar Hotels & Resorts Inc. expects to report occupancy of approximately 64% for the fourth quarter of 2022 with an ADR of approximately $469 resulting in RevPAR of approximately $301. This RevPAR reflects an approximate increase of 8% compared to the fourth quarter of 2021 and an approximate increase of 20% compared to the fourth quarter of 2019. Additionally, for the month of December 2022, RevPAR increased by approximately 26% versus December 2019. In the month of November, RevPAR increased approximately 15% versus November 2019 and in the month of October 2022, RevPAR increa
