Kayak's Hotel May Be Seized in a $13 Million Foreclosure Lawsuit
Skift Take
- Truist gave their 1Q lodging earnings preview. While they continue to see macro over micro with the main driver/wildcard coming from the economic impact of high interest rates and inflation, at a minimum they expect results to be in-line but more likely ahead.
- The Kayak Miami Beach hotel could be seized in a $13.68 million foreclosure lawsuit.
- The ART Hotel Denver, Curio Collection by Hilton announced the completion of its $3 million property-wide refresh to its 165 rooms and suites, 7,500 square feet of flexible meeting and event spaces, fitness center, private dining and public spaces.
The DJIA was down 110 points, Nasdaq was down 97 points, the S&P 500 was down 24. All three U.S. indexes were on track for week-over-week losses. The 10-year Treasury yield fell to 3.546%
Truist gave their 1Q lodging earnings preview. While they continue to see macro over micro with the main driver/wildcard coming from the economic impact of high interest rates and inflation, at a minimum they expect results to be in-line but more likely ahead. Investor sentiment seems to be impacted the most by the wall of worry, which Truist said now has recent concerns about a banking/lending crisis added to it. They expect the greatest degree of strength in 1Q domestic RevPAR results to be coming from the Group/convention-heavy Upper-Upscale segment. While more important for C-Corps, Truist believes 1Q23 international RevPAR results continue to exceed investor expectations. They see no macro reason why companies should miss the midpoint of t
