Canada Notches Record High Average Room Rates
Skift Take
- Wedbush initiated coverage on lodging REITs, with Ryman Hospitality and Host Hotels receiving Outperform ratings and price targets of $94 and $19, respectively. Park Hotels and Pebblebrook Hotel Trust were initiated with Neutral ratings and price targets of $13 and $14, respectively.
- Keybanc downgraded Airbnb's rating to Sector Weight from Overweight.
- A report by Morning Consult indicates that the "revenge travel" trend may be declining, with travel intentions increasing in some countries but declining in others, particularly in Europe. China is experiencing a significant surge in travel, driven by pent-up demand.
The DJIA fell 431 points while Nasdaq was down 248, the S&P 500 fell 59 and the 10-year treasury yield jumped another .12 to 4.80%. Lodging stocks were lower. New lows were set by VAC and AINC. SOND and AHT were each down -7%, while PEB and ABNB were down -6%.
Wedbush initiated coverage on some lodging REITs this morning. Ryman Hospitality and Host Hotels were started at Outperform with price targets of $94 and $19 respectively. Park Hotels and Pebblebrook Hotel Trust were initiated at Neutral with $13 and $14 price targets respectively.
Keybanc cut their rating on Airbnb to Sector Weight from Overweight.
A new report by Morning Consult shows that, after years of inflation and rising travel costs, the era of “revenge travel” may be coming to a close. According to The State of Travel & Hospitality report, travel intentions are increa
