Four Seasons Opening Private Retreats Collection in Los Cabos
Skift Take
- Morgan Stanley changed price targets on its covered hotel companies. Hilton’s PT was lowered to $167 from $171, while Wyndham’s PT was upped to $90 from $87.
- Chatham Lodging Trust announced they repaid in full three mortgages with outstanding principal of $73.3 million and a weighted average interest rate of 8%.
- Four Seasons Resort and Residences Los Cabos at Costa Palmas will begin taking reservations for its ultra-luxury Private Retreats collection soon.
The DJIA rose 266 points while Nasdaq was up 226, the S&P 500 rose 53 points and the 10-year treasury yield was up another .04 to 3.67%. Lodging stocks were mixed.
Morgan Stanley changed price targets on its covered hotel companies. Hilton’s PT was lowered to $167 from $171, while Wyndham’s PT was upped to $90 from $87. Both were maintained at Overweight. Equal-Weight rated Choice Hotels’ target price was lowered to $129 from $137, Park Hotels was lowered to $15 from $14 and DiamondRock’s PT was upped to $9.50 from $9. MS has Underweight ratings on Sunstone Hotels and Pebblebrook Hotel Trust. MS lowered its PT on SHO to $9 from $10 and PEB to $12 from $13.
Chatham Lodging Trust announced they repaid in full three mortgages with outstanding principal of $73.3 million and a weighted average interest rate of 8% with proceeds from its newly issued term loan which currently carries an interest rate of 6.1%
