Hospitality Ventures Management's Expanded Portfolio
Skift Take
Hospitality Ventures Management added 15 new hotels in 2023 to its portfolio of select-service, full-service and resort properties. Most of these additions are Marriott, Hilton, and Hyatt brands.
The DJIA jumped 224 points while Nasdaq rose 173, the S&P 500 was up 37 points and the 10-year treasury yield was down .05 to 4.09%. After a very rough start to the year, January is going to end higher with today’s trading taking the indexes to new highs. Lodging stocks were higher. SLNA was up another 38%, this time a whole $0.105 per share. SOND was up 8% on the day.
Barclays gave a 4Q earnings preview for the lodging sector. Barclays expects more or less in-line reports and FY24 guides. They believe 2023 ended and 2024 began with softer RevPAR trends. They expect +2-4% FY24 US RevPAR growth guidance from the upper chain scale players with their estimates near the midpoint of the range. That would be meaningful deceleration year over year on tough comps but more or less in line with consensus. Barclays is bullish on net unit growth acceleration in 2024 and pipeline updates in January were solid. They are remaining selec
