Hilton to Create Largest EV Charging Network in Hospitality Sector
Skift Take
- Deutsche Bank initiated coverage on Hilton Grand Vacations with a Buy rating and a $59 price target, citing compelling stock levels.
- Hyatt CEO Mark Hoplamazian observed a return to offices in big cities, indicating potential growth in business transient travel.
- Hilton plans to install up to 20,000 Tesla Universal Wall Connectors at 2,000 hotels in North America, creating the largest EV charging network in the hospitality industry.
The DJIA was up 58 points, but the Nasdaq was down 124, the S&P 500 fell 14 points, and the 10-year treasury yield was down .03 to 4.26%. Lodging stocks were lower on the day, but you can just stick a fork in the lodging SPAC stocks. VCSA, on the reverse split news we all knew was coming, fell another -7% to another all-time low. SLNA plunged -16% and SOND fell -10%.
Deutsche Bank initiated coverage on Hilton Grand Vacations with a Buy rating and a $59 price target. D.B. said that while they know the Street has long taken a measured view on timeshare stocks and that is not likely to change soon, they believe the group, and HGV especially, trades at levels too compelling to ignore.
Hyatt CEO Mark Hoplamazian spoke at the Bank of America Conferencetoday and confirmed some of what was in the Truist report yesterday. He said they are picking up on signs that more people in big cities
