Trump Organization in Talks to Buy Back Washington, D.C. Property
Skift Take
Donald Trump’s real-estate company is exploring a deal exceeding $300 million to reacquire its former Washington, D.C. hotel—now a Waldorf Astoria—and potentially revert it to the Trump brand.
he DJIA rose 359 points but Nasdaq was down another 74, while the S&P 500 rose 9 points. The 10-year treasury yield march to 5% continued with a rise of .03 to 4.80%. Lodging stocks were mixed. AHT was the only real mover of note, down -6% on the day.
Deutsche Bank upped their price target on Playa Hotels & Resorts to $15 from $13. They did not ascribe any probability of a deal with Hyatt being completed, but they maintain their Buy rating because of their revised view the stock should be trading at $15. They do understand why Hyatt is looking at a potential acquisition of PLYA and why PLYA would sell, given the lack of upward movement in their stock price, no matter how positive their business climate has been in the past couple of years.
Ashford Hospitality Trust, Inc. reported that the company expects to report an occupancy rate of approximately 66% for the fourth quarter of 2024, with
