Club Med Says It's Hit a Milestone
Skift Take
Club Med released new data showing the company has reached a fresh milestone by achieving more than $2 billion in international business volume for the first time ever.
The DJIA was up 401 points while Nasdaq was up 203, the S&P 500 rose 46 points and the 10 year treasury yield was down .02 to 4.27%. Lodging stocks were higher. HLT, MAR and TNL traded up to new highs. SOND was up 12% while SOHO rose 5% on the day.
The U.S. hotel industry reported higher performance results month over month, according to February 2024 data from CoStar. February 2024 (percentage change from February 2023): Occupancy: 58.9% (-1.8%) ADR: $158.23 (+3.9%) RevPAR: $93.19 (+2.0%). Among the Top 25 Markets, Oahu Island experienced the highest occupancy (84.%), which was up 6.6% year over year. Helped by Super Bowl LVIII, Las Vegas reported the highest ADR (+61.9% to $301.35) and RevPAR (+69.9% to $247.44) levels. Markets with the lowest occupancy for the month included Minneapolis (46.1%) and Chicago (49.4%). The Top 25 Markets showed higher occupancy and ADR than all other market
