IHG Expands Portfolio in Mexico
Photo Credit: View of the beach at the forthcoming Six Senses Grand Bahama. IHG Hotels and Resorts
Skift Take
IHG Hotels & Resorts is significantly expanding its luxury and lifestyle portfolio in Mexico, Latin America, and the Caribbean, with multiple new openings planned through 2027, including properties from its Six Senses, InterContinental, Kimpton, Vignette Collection, and Hotel Indigo brands.
The DJIA fell 330 points while Nasdaq was down 184, the S&P 500 was down 31 points and the 10-year treasury yield was down .07 to 4.55%. Despite the indexes being in the red, lodging stocks were modestly higher. VCSA was the big mover, up 21%.
Truist Securities updated estimates and price targets on some lodging names following the 1Q earnings season. They upped ABNB's price target to $134 from $131, the only one they raised. CHH went to $144 from $146, HST to $23 from $24, H to $168 from $172, PEN to $15 from $16, PK to $20 from $21, RHP to $130 from $135 and SHO to $12 from $13.
Truist also gave their forward-looking views on mid and high-end U.S. hotels. They see the greatest degree of RevPAR growth for the rest of the year driven by the Group segment. Truist said summer leisure demand and pricing
