U.S. Hotel Occupancy for Mid-April Drops
Skift Take
Multiple hotel companies announced property openings globally, including Peachtree Group receiving USCIS approval for a SpringHill Suites in Utah.
The DJIA rose 420 points, the Nasdaq was up 408 (+2.5%), the S&P 500 rose 88 points and the 10-year treasury yield was basically flat at 4.39%. Lodging stocks were modestly higher. MAR was up 4% to lead the group.
Travel + Leisure kicked off the hotel/timeshare 1Q25 earnings season with a modest beat. They maintained guidance, which was surprising, particularly the comment about positive momentum. The company repurchased 1.3 million shares for $70 million in 1Q.
STR reported U.S. lodging data for the week ended April 19th. The Good Friday/Easter/Passover shift went in the other direction with RevPAR down -9.3% year over year. Occupancy was down -8.1%. Group RevPAR was down -43.8%.
Virga Capital announced the opening of its newest hospitality development, Home2 Suites by Hilton Bozeman Four Corners, in Bozeman, Montana. The property is the first hotel to o
