Concord Hospitality Expands U.S. Portfolio
Skift Take
Concord Hospitality expands its U.S. portfolio with new hotel openings, and Sandals plans a $200 million rebuild of three Jamaica resorts. Bernstein analysts suggest Hyatt could attract a mega-merger bid as the Pritzker family loosens its voting control of the chain. Plus, more hotel deal and development news.
The DJIA fell 447 points Friday, Nasdaq was down another 443 (-2%) the S&P 500was down 100 points and treasury yields rose with the 10 year up .11 to 4.39%. Interest rate sensitive stocks took a big hit, meaning the hotel REITs were include. SVC was down -11%, INN was down -5% to pace the declines in the lodging sector on Friday.
Investing.com published an article suggesting Hyatt Hotels could be a target for a "mega-merger", a result of Thomas Pritzker stepping down as Executive Chairman. This came from an analysis by Bernstein, suggesting the leadership transition could reduce long-standing hurdles of control, as the Pritzker family has a voting lock. Bernstein described Hyatt as a strategically "absorbable" entity with industry leading NUG and RevPAR metrics, driven by its enviable dominant position in the luxury and lifestyle segments. The article discussed Hilton as a potential s
