Hilton Grand Vacations Completes Acquisition of Bluegreen Vacations
Skift Take
Hilton Grand Vacations Inc. completed the previously disclosed acquisition of Bluegreen Vacations. The transaction broadens HGV’s offerings, customer reach, and sales locations, creating a premier vacation ownership, and experiences company.
In a rare close for January, the DJIA was up 202 points, Nasdaq was up 200, the S&P 500 was up 42 points, and the 10-year Treasury yield was up 0.04 to 4.14%. Lodging stocks were modestly higher. AHT traded down to a new low but bounced, ending the day up 5%. AINC also hit a new low but was down -5% on the day. SOHO also traded down to a new low.
Truist Securities upped their target price on Pebblebrook Hotel Trust to $16 from $15. They view 2024 as a transition year for PEB, driven by improved macro in some lagging urban markets and by the eventual EBITDA expansion of several repositioned/renovated hotels. They expect more significant incremental EBITDA growth in 2025-2026.
STR reported US lodging data for the week ended 1/13. US Hotel RevPAR was up 3.3% with rates up 6.3%. Group RevPAR was up 13.6%.
Hilton Grand Vacations Inc. comple
