Hilton Beefs Up Its Luxury Portfolio
Skift Take
Hilton is dramatically expanding its portfolio of luxury hotel experiences with the addition of nearly 400 boutique properties from the Small Luxury Hotels of the World collection.
The DJIA was down 53 points while the Nasdaq was up 26, the S&P 500 rose 4 points and the 10-year treasury yield was up .03 to 4.30%. Lodging stocks were mostly lower. VCSA was the big mover, down -5% today.
Jefferies lowered their target price on Wyndham Hotels & Resorts to $90 from $93.
According to STR/CoStar, U.S. May 2024 vs. May 2023 metrics are as follows: Top-Line Metrics (May 2024 vs. May 2023): Occupancy: 65.7% (+1.5%) ADR: $160.40 (+2.4%) RevPAR: $105.46 (+4.0%). Bottom-Line Metrics (May 2024 vs. May 2023): TRevPAR: $224.58 (+1.2%) GOPPAR: $83.80 (+0.3%) EDITDA PAR: $62.63 (+2.4%) LPAR: $75.00 (+3.3%). Key Points: RevPAR growth was the highest since March 2023. Bifurcated chain scale performance: The upper tier grew, and the lower tier fell. Weekday occupancy and ADR dominated. Total revenue growth was left to F&B and other operated departments. The lowest labor cost growth in the last 12 months has led to a ver
