Four Seasons Unveils Expansion of Residential Offerings
Skift Take
Four Seasons will develop the Four Seasons Residences at The Ocean Club in Nassau, Bahamas. This project, set to open in 2027, will include 67 Private Residences with luxurious amenities including an oceanfront pool, private cabanas, a beachfront restaurant, a spa, and more.
We had the first solid trading day of 2024 as the DJIA rose 217 points, Nasdaq was up 320, the S&P 500 rose 66 points and the 10 year treasury yield fell by .04 to 4%. Lodging stocks were nearly all higher. HST, IHG, and MAR traded up to new highs.
BofA Securities made some changes, upgrading Host Hotels to Buy from Underperform, raising their target price to $23 from $18. They cut their rating on Pebblebrook Hotel Trust to Underperform from Neutral with a $13.50 target price while also cutting Apple Hospitality to Neutral from Buy, cutting their target price to $18 from $19.
Baird reported that KSL/Hersha sold the 65-room Hampton Inn Manhattan Seaport-Financial District for $24.125 million to Slate Property Group. The new owner has closed the property and will convert it to an alternative use. Metro City Bank provided the financing a 64% LTV, five-year mortgage with a 7.5% f
