60 Percent of Americans More Likely to Stay in Hotels in 2023 Than Last Year
Skift Take
- JP Morgan gave their 2023 lodging outlook presentation, saying they see the REITs as relative underperformers versus the C-Corps. They see Wyndham Hotels and Hyatt Hotels as relative out performers within lodging.
- The DJIA rose 186 points while Nasdaq was up 107, the S&P 500 rose 27 points and the 10-year treasury yield was up .10 to 3.62%. Lodging stocks were higher.
- Barclays said December lodging RevPAR ended on a strong note, very notable after Pebblebrook Hotel Trust’s guidance cut during the month.
The DJIA rose 186 points while Nasdaq was up 107, the S&P 500 rose 27 points and the 10-year treasury yield was up .10 to 3.62%. Lodging stocks were higher. MCG was the big winner, up 11% while AHT rose another 8%. SLNA fell -6% on the day.
JP Morgan gave their 2023 lodging outlook presentation, saying they see the REITs as relative underperformers versus the C-Corps. They see Wyndham Hotels and Hyatt Hotels as relative out performers within lodging, overall. JPM said they see little to no impact from a slowing macro on demand trends, pricing elasticity or meaningful impacts to development pipeline/new room signings. That being said, they are forecasting RevPAR growth deceleration in 2023 and said these stocks tend to underperform when this happens. They said they could see a rotation of out lodging stocks later in 1Q23 as lodging had been looked at as a good place for investors to hide in.
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