Waterford and Maverick Groups Merge
Photo Credit: An Element Hotel by Marriott near BWI International Airport. The hotel is part of Waterford Hotel Group. Waterford Hotel Group
Skift Take
Waterford Hotel Group and Maverick Hotels & Restaurants have merged in a strategic partnership. Together, they have 50 hotels. Plus, more hotel development stories.
The DJIA started the final month of the year with a drop of 427 points, while the Nasdaq was down 90, the S&P 500 fell 36 points, and the 10-year treasury yield jumped .08 to 4.10%. Lodging stocks were lower. AHT was the biggest mover, down -11% on the day.
Wells Fargo cut their price target on Park Hotels & Resorts to $11 from $12. They maintained their Equal Weight rating. WF raised its target on Sunstone Hotels to $10 from $8.50 while maintaining its Equal Weight rating. Pebblebrook Hotel Trust's target was upped to $13 from $11, with their Equal Weight rating maintained, while DiamondRock Hotels' target price was also upped this time to $10 from $9, with their Equal Weight rating staying the same. Finally, Xenia Hotels saw their target price raised to $16 from $15 while WF kept their Overweight rating.
Lodging Analytics Research & Consulting released its latest quarterly Market Intelligence Reports for 62 markets under current coverage and the U.
