Upbeat Mood and News Frenzy at ALIS
Skift Take
- Truist said they are finding the sentiment at the ALIS Lodging Conference as mostly positive, with lots of “hope” that the most well-anticipated recession in the history of recessions will be a mild one.
- STR and Tourism Economics made a modest upgrade to the 2023 U.S. hotel forecast released at ALIS.
- Four Seasons said they started 2023 with new leadership, brand extensions and strategic portfolio growth.
The DJIA rose 104 points but Nasdaq was down 30, the S&P 500 was down 3 points and the 10-year treasury yield was down .06 to 3.47%. Lodging stocks were mixed. SOHO was the big gainer, up 26% as they announced they were starting to pay preferred dividends again. SOND was up 9% but MCG fell -14%.
Truist said they are finding the sentiment at the ALIS Lodging Conference as mostly positive, with lots of “hope” that the most well-anticipated recession in the history of recessions will be a mild one. CoStar’s HNN said leaders are all-out bullish on the health of the industry. Truist said the tone is that leisure is still strong while business travel sentiment is much more mixed. Labor growth appears to be moderating Development financing is still there with Truist describing CMBS as alive and well with plenty of expensive (8%+ interest) money available. Hilton’s new Spark brand is getting a lot o
