Hyatt Regency Orlando Could be Sold for $1 Billion
Skift Take
Hyatt is set to sell the Hyatt Regency Orlando for approximately $1.02 billion to Ares and RIDA Development, with Hyatt retaining a preferred equity interest and a 30-year management agreement.
The DJIA rose 243 points while Nasdaq was up 5, the S&P 500 rose 21 points and the 10-year treasury yield was down .03 to 3.82%. Lodging stocks were higher. SOND led the group with a 29% rise while BHR was up 6%. VCSA fell -11% on the day.
UBS cut their price target on Marriott International to $244 from $267. They maintained their Neutral rating.
Citigroup lowered their rating on Playa Hotels & Resorts to Neutral from Buy. They cut their price target on PLYA to $8 from $12.
Susquehanna cut their price target on Hyatt Hotels to $150 from $160. They maintained their Neutral rating on the stock.
Truist Securities published a report on the Bloomberg story on Monday, saying the 1,641-room Hyatt Regency Orlando could be sold to a private equity investor for about $1 billion. Late yesterday, Baird issued a report that Hyatt was on
