Soho House Rejects Takeover Offer
Photo Credit: The pool area of the Soho Farmhouse outside Oxfor, England. Soho House and Co.
Skift Take
Soho House dissolved its Independent Special Committee after rejecting an offer for strategic transactions, causing discontent among shareholders due to the stock's low trading price.
The DJIA surged 575 points Friday, but the Nasdaq bounced back from a close to 300-point drop in the morning to only be down 2 points at the close. The S&P 500was up 42 points, and the 10-year treasury yield was down .04 to 4.51%. Lodging stocks were mostly higher. Among the big movers, SOND was up 7%, but VCSAwas down 6%.
Marriott Vacations Worldwide issued a press release that effectively was telling everyone they would miss 2Q24 estimates. The update included that their 2Q contract sales growth target is 2% to 4%, below consensus of nearly 7%. Whether this means they are going to make it up in the second half of the year, we don't know but analysts were already pointing to Maui as the reason for the shortfall.
Barclays said they believe Apple Hospitality's 2Q trends are looking positive, despite the stock falling to new lows. They believe the underperformance of their shares is due to&n
