Hotel Stocks Rollercoaster
Photo Credit: The exterior of a Cambria hotel. Choice Hotels International
Skift Take
The Baird Hotel Stock Index was down -13.7% in March. But they were up modestly today. Goldman Sach re-rated a few hotel groups. And more news.
The DJIA rose 312 points while the NASDAQ was up 107, the S&P 500 gained back 43 points and the 10-year treasury yield fell .13 to 4.36%. Lodging stocks were higher led by SOND, up 22% on the day.
Goldman Sachs upped Choice Hotels to Buy from Sell while cutting their price target to $138 from $141. Goldman cut their ratings on Hilton and Marriott, both to Neutral from Buy while slashing MAR’s PT to $245 from $313 and HLT’s to $235 from $296. They lowered their rating on Hyatt to Sell from Neutral while cutting their target price to $110 from $150. For more context, read Skift's U.S. Hotels Face Slowing Growth, with Weak Demand and Policy Uncertainty: Goldman Sachs.
The Baird Hotel Stock Index was down -13.7% in March, the worst month-over-month decline since June 2022. The Year to Date decline is now down -13.1%. The Hotel Brand sub-index was down -14.2% in March, from February while the Hot
