Stable Hotel Supply Growth Through 2026
Skift Take
Truist reported that Lodging Econometrics expects steady hotel supply growth rates through 2026, supporting Ryman Hospitality with minimal new competition in large convention hotels.
The DJIA ended Friday up 51 points while Nasdaq was up 85, the S&P 500 was up 25 points and the 10-year treasury yield fell back -.06 to 3.94%. Lodging stocks were mostly higher but those new age names, the ones with the SPACs, just plain disasters for the most part. SOND was down another -10% to another new all time low while VCSA plunged 40%, also to another all-time low.
The Vacasa plunge was brought on by their earnings report, also discussing softening demand for domestic, non-urban vacation rentals. For some reason some of their shareholders thought they could escape the pressure Airbnb said their hosts were feeling. VCSA said they are seeing weakness in both price and nights sold per home and they have no visibility into near term stabilization. VCSA also announced a note purchase agreement with an affiliate of Davidson Kempner Capital Management LP. The end result is VCSA can get up to $75 million of first lien senior secured convertibl
