Accor Reveals European Portfolio Growth
Skift Take
- STR reported a 3.3% increase in U.S. Hotel RevPAR, led by a 4.5% rise in ADR and a 5.1% increase in Group RevPAR.
- Deutsche Bank provided a cautious 2024 outlook for the hotel industry, highlighting a balanced risk-reward scenario with potential bull and bear cases.
- Keybanc reduced their price target on Xenia Hotels & Resorts, while Truist offered a differing view on Airbnb compared to Barclays.
It was a big day in the market with the Fed signaling they were already discussing rate cuts. The DJIA was up 513 points, Nasdaq was up 201, the S&P 500 rose 63 points. The big news was the 10-year treasury yield, down 0.17 to 4.02%. Lodging stocks were higher with HLT and MAR both trading up to new highs.
Our editor is spending time getting to know his first grandson, so there will be no Daily Lodging Report on Thursday, December 13th.
STR reported US lodging data for the week ended 12/9. US Hotel RevPAR was up 3.3%, led by a 4.5% rise in ADR. Group RevPAR was up 5.1%.
Deutsche Bank gave their 2024 outlook for the hotel industry. DB said that as we approach year four of the lodging recovery in 2024, they see a more balanced risk reward, as the easy part of the lodging recovery has played out and we now enter the late innings, with more nuanced bull/bear cases. They believe the bull case is b
