U.S. Lodging Higher as Markets Rise
Skift Take
- The DJIA surged 765 points while Nasdaq was up 234, the S&P 500 rose 90 points and the 10 year treasury yield was down .15 to 3.66%
- The CBRE Hotels Research State of the Union showcases a review of current hotel trends, leading and coincident indicators of hotel demand, and an update on cost pressures and margin flow-through.
- Nearly all hotels are experiencing staffing shortages, according to a new member survey conducted by the American Hotel & Lodging Association.
The DJIA surged 765 points while Nasdaq was up 234, the S&P 500 rose 90 points and the 10 year treasury yield was down .15 to 3.66%. Lodging stocks were modestly higher. The two big movers were AINC with a gain of 19% and MCG with a drop of -7% to a new low.
All the main equity indexes rose 3% today with the DJIA up 825 points, Nasdaq up 361, the S&P 500 rose 113 points and the 10 year treasury yield was down .03 to 3.62%. Lodging stocks were higher. SOHO rose 12%, SOND jumped 10%, SVC was up 7% and PK, TNL, HGV, ABNG and VAC were each up 6% on the day.
The CBRE Hotels Research State of the Union showcases a review of current hotel trends, leading and coincident indicators of hotel demand, and an update on cost pressures and margin flow-through. Key Takeaways from the latest report include CBRE calling
