Hotel Winners and Losers in RevPAR Rankings
Skift Take
- Lodging stocks were mixed but the big movers were all to the downside. SLNA traded down another -7% to another all-time low. VCSA and MCG were both down -6%.
- Service Properties Trust kept its positive momentum going, reporting a 159% increase in normalized FFO in 4Q22.
- Xenia Hotels & Resorts reported 4Q results slightly ahead of expectations but gave a mixed 2023 outlook.
The DJIA rose 5 points, Nasdaq was down 76, the S&P 500 was down 19 points and the 10-year treasury yield managed to stay under 4%, up .08 to 3.994%. Lodging stocks were mixed but the big movers were all to the downside. SLNA traded down another -7% to another all-time low. VCSA and MCG were both down -6%.
Service Properties Trust kept its positive momentum going, reporting a 159% increase in normalized FFO in 4Q22. Adjusted EBITDAre rose 27%. They also sold four hotels for $25.8 million last quarter, completed $610.2 million in secured financing and recently announced (stock symbol: SVC) is purchasing Travel Centers of America, including SVC’s interest. SVC is under agreement to sell its remaining nine Marriott branded hotels with 1,210 keys for $88.5 million.
Xenia Hotels & Resorts reported 4Q results slightly ahead of expectations but gave a mixed 2023 outlook. While 2023 guidance was below expe
