Fresno to Get $30 Million Courtyard by Marriott
Skift Take
Axis Hotel Group is preparing to open the Courtyard by Marriott Fresno Downtown by August. Plus, more hotel development news.
The DJIA rose 135 points, the Nasdaq was up 394, the S&P 500 rose 59 points, the 10-year treasury yield was up .04 to 4.42%, but it was not a good day for lodging names. VAC and PEB hit new highs, BHR was up 10%, but for the most part, most classified as a REIT or a Preferred lodging or gaming name took a hit today.
In celebration of the Fourth of July, there will be no Daily Lodging Report on Sunday, July 5th.
Ladenburg Thalmann initiated coverage of Service Properties Trust with a Buy rating. Its price target is $2.25 (pre-reverse split).
According to hotel-online.com, downtown Fresno, California, is getting its first grand hotel in decades. Axis Hotel Group is preparing to open the Courtyard by Marriott Fresno Downtown by August. The company invested $30 million to build a five-story hotel with 144 rooms, including 8 suites, a 4,000-square-foot banquet hall, 5,000 square feet of meeting space, a restaurant, and an outdoor courtyard pool.
