Lodging Stocks Fall Along With Market Drops
Skift Take
- The DJIA fell 351 points while Nasdaq was down 225, the S&P 500 fell 58 points and the 10 year treasury yield was down .09 to 3.51%. What happened to the Santa Claus Rally?
- Braemar Hotels & Resorts Inc. reported preliminary portfolio occupancy of approximately 64% for November 2022 with an ADR of approximately $394 resulting in RevPAR of approximately $253.
- Marriott International, Inc. announced the completion of an $11 million dollar revitalization of its 395-room Falls Church Marriott Fairview Park, in Falls Church, Virginia.
The DJIA fell 351 points while Nasdaq was down 225, the S&P 500 fell 58 points and the 10 year treasury yield was down .09 to 3.51%. What happened to the Santa Claus Rally? SLNA traded down -8% to another new low, VCSA hit another new low but the big decliner was MCG, down -15%. AINC gave back -6% from yesterday’s gain while TNL and ABNB were both down -5% on the day.
Braemar Hotels & Resorts Inc. reported preliminary portfolio occupancy of approximately 64% for November 2022 with an ADR of approximately $394 resulting in RevPAR of approximately $253. This RevPAR reflects an approximate increase of 5% versus November 2021 and an approximately increase of 15% compared to November 2019. Additionally, the October 2022, preliminary portfolio occupancy was approximately 73% with an ADR of approximately $382 resulting in RevPAR of approximately $280. This RevPAR reflects an approximate increase of 25% versus October 2021 an
