Global Hotel Rate Bubble Watch
Skift Take
A new report for 2023 shows 85% of markets with RevPAR higher than 2019. In terms of top-line performance, that means most markets have recovered from the significant declines caused by the pandemic.
The DJIA rose 60 points on Friday but Nasdaq was down 55, the S&P 500 was down 3 points and the 10-year treasury yield was up .01 to 4.14%. Lodging stocks were modestly higher. HLT traded up to a new high.
The big move was Selina, coming back from the dead to rise 39%, which was less than a rise of $0.08 a share. SLNA filed a long and convoluted 8K on the finalizing of their deal with Osprey Investments. There is too much in that 8K to publish here but pending shareholder approval, SLNA will live to see another day and Osprey will control the company. Shareholders are faced with a decision of getting massively diluted and most likely delisted or at worse, reverse split, or losing their entire investment if they vote it down and SLNA goes bust.
Deutsche Bank cut their rating on IHG from Hold to Sell. They raised their target price to 6,360p from 5,800p.
Jackson-Shaw hosted a groundbrea
