U.S. Hotels Aim to Tap Into the Surge in Indian Tourists
Skift Take
U.S. hotels and travel companies are focusing on a surge in Indian tourists to offset declining domestic leisure spending and reduced demand from East Asia and Europe.
The DJIA fell 111 points but Nasdaq was up 247, the S&P 500 rose 23 points, and the 10-year treasury yield was flat at 4.40%. Lodging stocks were modestly lower. WH and SHO both traded up to new highs again, while SVC traded down to another new low. VCSA was down -6% on the day.
Truist held its 12th annual Gaming, Lodging, Leisure, and Restaurantsconference last week. Truist said several lodging companies were encouraged by what they described as a “Trump bump” to demand right after the election. Truist believes some of the bookings were due to relief the results were decided quickly and there was not going to be an extended period of uncertainty. They believe there will be a modest upside to hotel RevPAR in 4Q versus company and consensus expectations.
U.S. hotels and travel companies are aiming to tap into a surge in Indian tourists t
