JLL Brokers Sale of Houston Lifestyle Hotel
Photo Credit: Moran Hotel CityCentre Moran Hotel CityCentre
Skift Take
JLL brokers a hotel sale. Analysts debate whether Choice Hotels CEO Patrick Pacious was pushed out, as Airbnb adds boutique hotels to its platform. Plus, more hotel deal and development news.
The DJIA rose 276 points, while the Nasdaq was up 23, the S&P 500 gained 13 points, and the 10-year treasury yield was up .01 to 4.59%. It was a good day for lodging stocks today, particularly the REITs, as the new 52-week high list continues to grow. That new high list today included CLDT, RLJ, SHO, HST, and PEB, and there were a bunch more that just missed.
In observance of Memorial Day, there will be no Daily Lodging Report on Monday, May 25.
Analysts had a lot to say about the resignation of Patrick Pacious as CEO and President of Choice Hotels. There is definitely a big debate about whether this was a surprise, premeditated, and whether he was pushed or left on his own. JP Morgan called it sudden and surprising, as they just held investor meetings with him on May 11th. Given how this was on the eve of the company's shareholders meeting, interim CEO Dominic Dragisich told JPM and all the other analysts he spoke with that this was telegraphed. Jefferies a
