Hyatt Announces Major Mexico Expansion
Skift Take
- TD Cowen upped their price targets on Hilton to $142 from $140 and Marriott to $172 from $170.
- HVS gave their findings from the Hunter Conference. HVS said early 2023 comparisons continue to look favorable with easy comparisons in 1Q due to last year’s Omicron outbreak.
- Canada’s hotel performance increased from the previous month, with February RevPAR exceeding C$100 for the first time on record
The DJIA fell 38 points, Nasdaq was down 53, the S&P 500 fell 6 points and the 10 year treasury yield was up .04 to 3.56%. It was nice to have a calm day in the markets for a change. Lodging stocks were modestly higher. AHT was up 8% while VCSA was down -5%.
TD Cowen upped their price targets on Hilton to $142 from $140 and Marriott to $172 from $170. They maintained their Outperform ratings on both.
HVS gave their findings from the Hunter Conference. HVS said early 2023 comparisons continue to look favorable with easy comparisons in 1Q due to last year’s Omicron outbreak. Year over year comps will begin to normalize into April and May but ADRs are expected to remain notably above last year’s levels due to inflation and the strength of travel overall. HVS said short term rental environments are tightening with many cities and municipalities enacting new zoning codes that restrict
