New York Delays Airbnb Crackdown
Skift Take
- Stock market: DJIA, Nasdaq, and S&P 500 showed gains, while lodging stocks were mixed.
- American travelers: High excitement for travel, but concerns about finances and travel costs have increased.
- Hotel developments: Renovations and new constructions announced in various locations, including Alabama, Oregon, Pennsylvania, Florida, and Massachusetts.
The DJIA was up 146 points while Nasdaq was up 111, the S&P 500 was up 30 and the 10-year treasury yield jumped .07 to 3.84%. Lodging stocks were mixed.
Raymond James upped their price target on Ryman Hospitality to $115 from $110 They maintained their Outperform rating on the stock.
American excitement for travel remains at record high levels, 8.3 on a scale from 0-10, according to The State of the American Traveler in June 2023. However, concerns around finances and travel costs have seen an uptick in the past months. The share of American travelers who said personal financial reasons have prevented them from traveling more than they preferred in the past 6 months has increased in the past month to 38%, an increase of over 5 points. There have also been increases in the percentages of travelers who said that the price of gas, airfare, or travel overall have deterred them from traveling more in the past 6 mo
