U.S. Hotel Sector Continues Its Recovery
Skift Take
- The DJIA gained about 1%, or about 270 points, while Nasdaq rallied 2.4%. The S&P 500 added about 1.7%, erasing an earlier decline of 0.7%, and the 10-year treasury yield climbed to 3.58%. It's been a wild week.
- Baird upgraded their rating on Choice Hotels International to Outperform. They believe their earnings outlook is improving for 2023-2024.
- IHG Hotels & Resorts continues to demonstrate the strength of its Holiday Innbrand family in Southern Europe
The DJIA gained about 1%, or about 270 points, while Nasdaq rallied 2.4%. The S&P 500 added about 1.7%, erasing an earlier decline of 0.7%, and the 10-year treasury yield climbed to 3.58%. It's been a wild week.
Baird upgraded their rating on Choice Hotels International to Outperform. They believe their earnings outlook is improving for 2023-2024 and uncertainties are moving to the rearview mirror. Baird upped their price target to $134.
Georgia World Congress Center is planning a topping-out ceremony on March 28 for the Signia by Hilton Atlanta hotel in Atlanta, Georgia. The 40-story, 975-room hotel is on schedule to open in mid-January next year. The Signia project, which will be owned by GWCCA, also calls for 100,000 square feet of meeting and event space, a restaurant, bar and wellness amenities.
Sims Patrick Studio has been tapped to rework the historic T
