Hilton's New Partnership With Small Luxury Hotels of the World
Photo Credit: A view of a terrace at Château Le Nessay, on the Emerald Coast of Brittany, France, which is one of the hotels that’s a part of the Small Luxury Hotels Private Collection. Source: Small Luxury Hotels of the World. Small Luxury Hotels of the World
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Hilton and Small Luxury Hotels of the World announced an exclusive strategic partnership that will welcome Hilton guests to hundreds of independently minded luxury hotels in the most sought-after destinations around the world.
The DJIA rose 156 points while Nasdaq was up 148, the S&P 500 rose 41 points and the 10-year treasury yield was up .02 to 4.11%. HLT traded up to a new high but the big mover was a plunge of -19% by SHCO. A group called GlassHouse Research released a report suggesting SHCO faces a number of issues affecting the future viability of the company and accused them of using fabricated accounting gimmicks in the past. The stock hit a new low on this. AINC also traded down to another new low, down another -8%.
Given Hilton (and Marriott’s) stock outperformance lately, the real surprise would have been if Hilton did not have a sensational earnings report. They did not disappoint with their adjusted EBITDA more than $50 million above consensus and guidance. RevPAR growth was 5.7% versus 5% consensus. In terms of guidance, they came in a bit ahead of estimates but every analyst
