Accor Adds Its First Las Vegas Resort
Skift Take
Hilton and Travel + Leisure kicked off the industry’s earnings season.
The DJIA jumped 508 points while Nasdaq was up 127, the S&P 500 rose 49 points, and the 10-year treasury yield was up .05 to 4.39%. Lodging stocks were mostly higher, led by the timeshare stocks as investors reacted positively to Travel + Leisure’s earnings, sending the stock up 7% to a new 52-week high. HGV also hit a new high, up 5% and VAC was up 4% on the day. HLT, the other one who reported earnings, saw its stock go down -3% today.
STR reported U.S. lodging data for the week ended 7/19. U.S. hotel RevPAR was down -3.3% with occupancy down -2.6% to lead the decline. Group RevPAR was down -4.6%.
Hilton and Travel + Leisure kicked off the industry’s earnings season. HLT beat estimates, but their report was described as mixed by many for various reasons. The beat was viewed as being from items like owned hotel income and other revenues and expenses, while Management Fees, Incentive managem
