Hyatt Plans to Double Canadian Footprint by 2026
The DJIA jumped 490 points while Nasdaq surged 327. The S&P 500 rose 84 points and the 10-year treasury yield was down .19 to 4.44%, all on a low inflation report. HLT and HT hit new highs while the list of lodging stock gainers was nearly all of them. SHCO was up 14%, BHR was up 13%, AHT was up 10% and PEB was up 9% to lead the group. TNL rose 8% and CLDT, INN, and HGV were up 7% each.
Berenberg downgraded their rating on IHG Hotels and Resorts to Hold from buy with a price target of 6,000 GBP, down from 6,500 GBP. They are bullish on the long term structural growth drivers of the hotel industry but believe this is broadly reflected in IHG’s current valuation. With potential near term headwinds from financing challenges and geopolitical tensions, Berenberg sees little scope for a re-rating and views IHG as fairly valued.
HEI Hotel & Resorts announced the completion of a $17 million renovation to the 368-ro
