U.S. Lodging REITs Hit 52-Week Lows as Markets Face Uncertainty
Skift Take
Yet the hotel industry continues to expand globally with multiple new properties and several boutique hotel openings.
It was a rough one for the financial markets and Lodging REITs on Friday, with the DJIA falling 716 points, Nasdaq down 481 or -2.7%, the S&P 500 falling 112 points and the 10-year treasury yield down .11 to 4.26%. For the lodging stocks, the big mover was SHCO, down -7%, but the list of REITs hitting new 52-week lows is reaching epic proportions: RLJ, CLDT, INN, RHP, PEB, HST, SHO, DRH, XHR, and APLE. We'd love to tell you the group is bottoming, but there is no bottom, with no clarity in the political and economic landscape. Way too much uncertainty out there to call a bottom.
Home2 Suites by Hilton announced its new location on Waccamaw Medical Park Drive in Conway, South Carolina is now open and taking reservations. According to a press release, the hotel offers a heated saltwater pool, a fitness center and other amenities.
The Waldorf Astoria Las Vegas has unveiled its newly remodeled 23rd floor, including a Peacock Alley and
