MGM Resorts CEO Named U.S. Travel Association Chair
Skift Take
Bill Hornbuckle, CEO of MGM Resorts International, was named the national chair of the U.S. Travel Association’s board for a two-year term, succeeding Hilton’s Chris Nassetta.
The DJIA was down 188, but Nasdaq managed a 49-point rise while the S&P 500 was up a point. The 10-year treasury yield continued its decline, down another .05 to 4.25%. Lodging stocks were mixed.
STR reported U.S. lodging data for the week ended 2/22. U.S. hotel RevPAR was down -0.3% year over year. Rates were up 2.5%, offset by occupancy down -2.7%. Group RevPAR was up 2.2%.
RLJ Lodging Trust reported an earnings beat while 2025 guidance was less bad than their peers. RLJ did not buy back any stock in 4Q besides the $3 million worth they noted during 3Q earnings season. RLJ said year-to-date they have bought back $1.2 million worth of stock. Chatham Lodging Trust reported a good 4Q with RevPAR up 4% with higher margins. CLDT said they expect to close the sale of two hotels in March for $39 million.
Jefferies lowered the
