Wyndham Orlando Resort Likely to Close
Skift Take
The Wyndham Orlando Resort on International Drive is set to close on April 30, with potential plans for partial preservation and redevelopment by owner Unicorp National Developments Inc.
The DJIA was up 177 points, Nasdaq rose 193, the S&P 500 was up 53 points and the 10-year treasury yield was down .01 to 4.49%. Lodging stocks were mixed. CLDT traded down to a new low while the only mover of note was VCSA, down -8% on the day.
Sunstone Hotel Investors reported modestly higher than expected 1Q24 results while maintaining guidance for the remainder of 2024. The quarterly dividend was upped to $0.09 per share from $0.07. SHO completed the acquisition of the Hyatt Regency San Antonio Riverwalk for $230 million while their Andaz Miami Beach has closed for a renovation with a reopening expected in the fourth quarter of this year.
Chatham Lodging Trust reported a modest beat for 1Q24 with CLDT saying it was hotel EBITDA margins which drove the beat. The company said they expect to continue to opportunistically sell additional assets in 2024 with the inte
