Aimbridge Acquires 71 Terrapin Management Contracts
Skift Take
- Aimbridge Hospitality has acquired the management arm of Terrapin Hospitality, with 71 hotels located in 21 states. This aggregates to over 8,100 keys transitioning to Aimbridge management.
- B.Riley lowered their price target on Ashford Inc. to $14 from $18, they maintained their Neutral rating on the stock.
- IHG Hotels & Resorts announced the opening of a new Holiday Inn Express & Suites Hotel in Glendale, California.
The DJIA rose 316 points, Nasdaq was up 185, the S&P 500 rose 51 points and it did not take long for the 10-year treasury yield to move back up, with the yield rising .13 to 3.61%. Lodging stocks were higher. AINC was the biggest mover, rebounding 13% while VCSA bounced 12%. SLNA traded down to a new low before bouncing a bit.
B.Riley lowered their price target on Ashford Inc. to $14 from $18, they maintained their Neutral rating on the stock.
The Baird/STR Hotel Stock Index fell -2.5% in February from January. The Hotel Brand sub-index fell -1.2% from January while the Hotel REIT sub-index fell -7%.
Aimbridge Hospitality has acquired the management arm of Terrapin Hospitality, with 71 hotels located in 21 states. This aggregates to over 8,100 keys transitioning to Aimbridge management within its dedicated Select Service operating division. The portfolio Aimbridge manages on beha
