Club Med to Shift Upmarket
Skift Take
- Club Med said it was beginning a new chapter. Taking inspiration from the original Club Med philosophy, creating simple moments of happiness, the lifestyle brand will be providing a more premium, family-friendly and eco-conscious experience.
- Deutsche Bank initiated coverage on Wyndham Hotels & Resorts with a Buy rating and $79 price target.
- STR reported US lodging data for the week ended April 1. US hotel RevPAR was up 10.9% year over year.
The DJIA rose 80 points but Nasdaq was down 129, the S&P 500 fell 10 points and the 10-year treasury yield was down .05 to 3.29%. Lodging stocks were lower. At the rate SOND is going, it may be trading at a dime before it gets a delisting notice, down another 12% to another all-time low. SHCO was down -9% and SLNA fell -7% on the day.
Deutsche Bank initiated coverage on Wyndham Hotels & Resorts with a Buy rating and $79 price target. DB said they believe the recent underperformance of WH shares is overdone and primarily related to regional banking concerns on funding availability for development/unit growth. They believe this gives investors an entry point in what they think will be a relative outperformer.
Club Med said it was beginning a new chapter. Taking inspiration from the original Club Med philosophy, creating simple moments of happiness, the lifestyle brand will be providing a more prem
