Deutsche Bank Forecasts Modest Hotel Sector Growth in 2023
Skift Take
- Lodging stocks were modestly lower. SOND fell -8%, the biggest mover in the group Friday. SLNA traded down to yet another new low.
- Both Hersha Hospitality Trust and Host Hotels announced special dividends. HT announced its board of trustees approved a special dividend of $0.50 per common share for the year 2022.
- Deutsche Bank said 2022 was a year when the lodging recovery was swiftly realized.
The DJIA fell another 282 points on Friday while Nasdaq was down 105, the S&P 500 fell 43 points and the 10 year treasury yield was up .03 to 3.48%. Lodging stocks were modestly lower. SOND fell -8%, the biggest mover in the group Friday. SLNA traded down to yet another new low.
Both Hersha Hospitality Trust and Host Hotels announced special dividends. HT announced its board of trustees approved a special dividend of $0.50 per common share for the year 2022. That is in addition to their quarterly $0.05 per common share and LP unit. HOST announced a regular quarterly dividend of $0.12 and a special dividend of $0.20 per share, bringing the total dividends for the year to $0.53 per share.
Deutsche Bank said 2022 was a year when the lodging recovery was swiftly realized. Current trends remain firm with green shoots lingering as it relates to group and business transient travel. They are taking
