Gencom Buys Ritz-Carlton New York, Plus More Hotel News
Skift Take
Gencom has bought the 253-key Ritz-Carlton New York, Central Park, the company's third hotel acquisition in the city in recent years.
The financial markets had what we describe as a "melt-up" on Friday, with a typical relief rally following a bounce off of the Crypto death spiral and a rally in AI stocks. The DJIA surged 2.5%, or 1,207 points, Nasdaq was up 2.2% or 491 points, while the S&P 500 rose 2% or 134 points. The 10-year Treasury yield was essentially unchanged at 4.21%. Lodging stocks and gaming stocks seem to have finally decoupled with the most new lows in gaming stocks we have seen in a year on Thursday but on Friday, MAR, HLT, IHG, HST and XHR all hit new 52-week highs for the lodging group.
The Anthem Hotel, part of Tapestry Collection by Hilton, has officially opened its doors in Inglewood, California. The property features 179 newly renovated rooms and suites, a pool and pool deck, and a full food and beverage program. The Anthem Hotel, Tapestry Collection by Hilton, is owned by Chartres Lodging Groupand managed by PM Hotel Group.
