Las Vegas Hotels’ Super Bowl Bump

The DJIA rose 152 points while Nasdaq was up 204, the S&P 500 was up 48 points and the 10 year treasury yield was down .04 to 4.27%. Lodging stocks were mostly higher on the day. RHP traded up to a new high. SLNA was down -5%.

Airbnb’s 4Q earnings report had something for the bulls and bears. 4Q EBITDA came in ahead of expectations, as did their 1Q revenue guide. The bears seized on the 2024 margin outlook as being negative. If the stock had not had a good run into earnings, the bulls probably would have won out, after all they bought back 1% of their market cap, $750 million worth of shares in 4Q. With tough comps, margin concerns and talk of AI being the future, there was some profit taking.

STR reported US lodging data for the week ended 2/10. US hotel RevPAR was up 3.9% with ADR up 7%. RevPAR in Las Vegas was up 140% year over year thanks to the Super Bowl.

Hotel rates, and the costs of travel in ge