Las Vegas' and Charleston, S.C.'s Four Seasons
Skift Take
- It was a rough one for Airbnb as investors seemed blindsided by their guidance. The 1Q results were in line but ABNB said they expect 2Q bookings to have slower growth.
- The best thing to be said about Vacasa’s earnings report came from JP Morgan. Their headline was the quarter was better than feared.
- STR reported US lodging data for the week ended 5/6. US hotel RevPAR was up 8.4% year over year.
The DJIA fell 30 points but Nasdaq was up 127, the S&P 500 rose 18 points and the 10-year treasury yield was down .08 to 3.44%. Lodging stocks were all over the place. SOND was up 20% but that is only $0.08 per share. VCSA was down -11% but that was only .095 cents. ABNB was the big mover, down -11% or down close to $14 a share.
It was a rough one for Airbnb as investors seemed blindsided by their guidance. The 1Q results were in line but ABNB said they expect 2Q bookings to have slower growth. There was more that caused the drop in the stock but the headlines about fewer bookings and lower prices in the second quarter would be enough to have all those Macro fear mongers to be able to point to ABNB after a year of being wrong and fist pump a little.
The best thing to be said about Vacasa’s earnings report came from JP Morgan. Their headline was the quarter was better than feared. No reason
