Price of U.S. Hotels Shows Strength in Most Regions
Skift Take
- The DJIA rose 208 points while Nasdaq was down 203, the S&P 500 fell 46 points and the 10-year treasury yield was down .02 to 3.65%.
- STR reported US lodging RevPAR for the week ended February 4. RevPAR was up 26.6% year over year. When compared with the same week in 2019, RevPAR was up 6.1%.
- Three historic buildings in downtown Cincinnati, Ohio will soon become a hotel when combined with a newly built seven-story tower.
The DJIA rose 208 points while Nasdaq was down 203, the S&P 500 fell 46 points and the 10-year treasury yield was down .02 to 3.65%. Lodging stocks were lower. MCG was down -11%, SOND fell -9%, BHR was down -6% and VCSA ended the day down -5%.
STR reported US lodging RevPAR for the week ended February 4. RevPAR was up 26.6% year over year. When compared with the same week in 2019, RevPAR was up 6.1%.
According to the Cornell Center for Hospitality Research, the price of U.S. hotels showed strength in all regions except the South Atlantic this quarter, with all regions except New England experiencing double-digit growth year-over-year. Hotels in non-gateway cities posted higher quarterly and yearly gains relative to gateway cities, with non-gateway hotels’ prices increasing 4% for the quarter, compared to 2% for gateway properties. On a year-to-year basis, non-gateway hotel
