Belmond and the Cipriani Family Make Peace
Skift Take
- RLJ Lodging Trust reported in-line results with some limited guidance they gave in January at ALIS.
- Summit Hotel Properties reported 4Q results ahead of estimates with strong earnings contributions from the recently acquired properties, including NewcrestImage.
- Argus Research upped their rating on Airbnb to Buy from Hold with a $144 price target.
The DJIA ended today down 232 points while Nasdaq was down 11, the S&P 500fell 12 points and the 10-year treasury yield was down .01 to 3.92%. Lodging stocks were modestly lower. SVC traded up to a new high but ended the day in the red. MCG was the big winner, up 7% while INN was down -7% despite earnings that seemed to please analysts. AHT was down -6% while BHR fell -5% on the day.
RLJ Lodging Trust reported in-line results with some limited guidance they gave in January at ALIS. While RLJ reported limited share buybacks, only $7.6 million in 4Q, they noted they need to be leverage neutral. What RLJ did do was raise their quarterly dividend by 60% to $0.08, bringing their dividend yield to 2.8%.
Summit Hotel Properties reported 4Q results ahead of estimates with strong earnings contributions from the recently acquired properties, including NewcrestImage. INN also announced they are selling six hotels and a land
