Canada's Average Daily Rates Go Up in January
Skift Take
In January, Toronto hotels charged slightly more than Vancouver’s amid rising rates and lower occupancy nationwide, with Edmonton notably lagging behind.
The DJIA rose 33 points, but Nasdaq dropped another 1.2% or 237 points, while the S&P 500 was down 30. The 10-year treasury yield fell again, today down -.03 to 4.39%. Lodging stocks were modestly lower on the day.
NexPoint Hospitality Trust said all their nominees were elected as trustees at their annual meeting. Resolutions were also passed at the AGM, approving the Agreement and Plan of Merger among NHT and NexPoint Diversified Real Estate Trust, pursuant to which NHT will be dissolved and its subsidiary entities merged with and into entities owned by NXDT. Shareholders of NHT will receive either US$0.36 per share in cash or one share of NHT, which will be converted into the right to receive a number of common shares of NXDT.
Toronto faced an ADR of $203.70, or $0.43 more than the $203.27 that Vancouver hotels charged on average during the month of January, according to CoStar. In cont
