3 Large Texas Hotels Secure Refinancing
Skift Take
JLL Capital Markets successfully refinanced three major Texas hotels—Sheraton Dallas, Marriott Marquis Houston, and Fairmont Austin—securing significant loans for each property.
The DJIA rose 244 points but Nasdaq was down 40, the S&P 500 was down less than a point and the 10-year treasury yield was up .03 to 3.87%. Lodging stocks were modestly higher. The only mover of note was VCSA, up 7%.
Bernstein upped their rating on Marriott International to Outperform from Market Perform. Their price target is $262.
Springwood Hospitality is planning to debut a Fairfield Inn & Suites by Marriott hotel and SpringHill Suites by Marriott hotel in Northampton County, Pennsylvania next month. Pending inspections, the Fairfield Inn & Suites in Bethlehem Township is tentatively scheduled to open on September 4. The four-story hotel will feature a fitness center, laundry facility, and convenience store. The Springhill Suites hotel is tentatively scheduled to open on September 19 in Lower Nazareth Township. The hotel will feature a fitness center, business center, lobby market, lobby bar, and a fire pit are
