Dallas Leads U.S. Hotel Construction Pipeline
Skift Take
Dallas continues to lead all U.S. markets with 184 projects in its hotel construction pipeline at the close of the first quarter. Plus, more hotel deal news.
The DJIA fell 26 points, while the Nasdaq was down 223, the S&P 500 fell 35 points, and the 10-year treasury yield was up .02 to 4.35%. Lodging stocks were modestly lower.
Some would say Hilton stock was priced to perfection a week ago, leading to its first-quarter earnings report. While HLT beat on RevPAR and EBITDA and raised guidance, their second-quarter projection is lower than expected, with the Iran conflict and all the parts of the economy impacted being blamed. The decline today was better than the one yesterday, but this report and the surge of oil prices again are not a good thing for the stock market, including hotel stocks. While HLT was only down just less than -3%, that is still a drop of more than 9 points.
The recent U.S. Construction Pipeline Trend Report from Lodging Econometrics revealed that Dallas continues to lead all U.S. markets with 184 projects/22,861 rooms in its hotel construction pipeline at the close of the f
