Ashford Hospitality Trust Sells Four Hotels for $252.5 Million
Photo Credit: The Westin Playa Vallarta an All Inclusive Resort Marriott International
Skift Take
Ashford Hospitality Trust said it sold four hotels and agreed to sell two others, projecting more than $60 million in future capital expenditure savings. Plus, hotel development news.
Today was a bit of a rug pull with the DJIA down 507 points, Nasdaq down 355, the S&P 500 fell 91 points, and the 10-year treasury yield was up .04 to 4.46%. Today was the first Fed meeting for the new chief, Kevin Warsh. While we don't fully understand why markets were still anticipating a rate cut this year, few — if any — expected the Fed to signal a potential rate hike in 2026. This morning, we had new highs in INN, RLJ, CLDT, PK, HLT, IHG, H, PEB, DRN, APLE, RHP, SHO, XHR, and VAC. By the close, only Hyatt was in positive territory. That pretty much sums up today.
With the financial markets being closed in the U.S. this Friday for Juneteenth, there will be no Daily Lodging Report on Sunday, June 21st.
STR reported U.S. lodging data for the week ending 6/13. U.S. hotel RevPAR rose 7%, led by ADR up 4.9%. Group RevPAR was up 7.3%.
A massive mixed-use tower featuring hundreds of apartments, a Marriott hotel, a bowling alley, and a rooftop poo
