Choice Trims Guidance, Highgate Lands Kessler Contract, Wyndham CFO Leaves
Photo Credit: A guest room at the Radisson Aquatica Resort Barbados. Choice Hotels
Skift Take
For the full year, Choice cut its projection for U.S. RevPAR to decline by between -2% and -3%, worse than a previous range of between 0% and -3%. Plus, more hotel deal and development news.
The DJIA rose 225 points, while the Nasdaq was up 151 points, the S&P 500 rose 0.37%, and the 10-year treasury yield was up .07 to 4.16%.
There will be no Daily Lodging Report from Thursday, November 6th, to Monday, November 10th. Regular service will resume on November 11th.
Earnings continued to roll out with Choice Hotels getting plenty of attention with better than feared 3Q results, but a cut to RevPAR guidance, which is in line with the earnings results theme. Summit Hotels reported modestly better than expected results and the sale of two hotels in the quarter, the 123-room Courtyard Kansas City Country Club Plaza for $19 million and the GIC joint venture 107-room Courtyard Amarillo Downtown for $20 million. Chatham Lodging Trust reported year-over-year declines for 3Q, a new $500 million credit facility. Their adjusted FFO pe
