Condo Hotel Brand Hotel101 Goes Public on Nasdaq
Skift Take
We have our first Filipino lodging stock trading in the U.S. as Hotel101, which went public via a merger with a SPAC.
The DJIA jumped 400 points, but the Nasdaq was down 167, the S&P 500 was down 7 points and the 10-year treasury yield was up .05 to 4.25%. Lodging stocks were higher, however, led once again by SOND, up another 27%, while SVC was up 5% and a bunch of stocks were up 4%+. We have our first Filipino lodging stock trading in the U.S. as Hotel101, which went public via a merger with a SPAC, started trading today under the symbol HBNB. The stock was all over the place with a high of $4.17, a low of $2.75, and a close of $3.28. For more context, see Skift's article: Hotel101 in Weak IPO, Extends Travel SPAC Slump.
Raymond James upgraded their rating on Hyatt Hotels to Strong Buy from Market Perform. With a $165 price target. Baird upped their price target to $148 from $146 but kept their Neutral rating.
Homewood Suites Viera Melbourne, a brand-new 4-story, 131-room hotel is now open in Melbourne, Florida. The hotel is
