Hilton Launches Premium Economy Brand Spark
Skift Take
- Lodging stocks were higher led by AHT, up another 10%. ABNB and PLYA were both up 7% on the day while VCSA was up 6% and HST rose 5%.
- Truist gave their 2023 lodging preview, saying they see a mixed bag for demand/pricing/supply trends for the lodging companies. Similar to the past nine months, they see “macro over micro” at the moment.
- DiamondRock Hospitality said their preliminary 4Q22 comparable revenue grew 23.4% year over year and 8.5% compared to 2019.
The DJIA rose 269 points while Nasdaq was up 189, the S&P 500 rose 50 points and the 10 year treasury yield was down .07 to 3.55%. Lodging stocks were higher led by AHT, up another 10%. ABNB and PLYA were both up 7% on the day while VCSA was up 6% and HST rose 5%.
Truist gave their 2023 lodging preview, saying they see a mixed bag for demand/pricing/supply trends for the lodging companies. Similar to the past nine months, they see “macro over micro” at the moment. They see the main driver/wildcard coming from the economic impact from the interest rates and inflation. Last year it was mostly about Covid and its variants. They don’t see Covid as zero risk but Truist believes it is now secondary to macroeconomic considerations for most investors and public company executives. Truist said they do see pressure on individual corporate bookings and stagnant pricing. While Pebblebrook Hotel Trust is the only company so f
