Hilton Hits 9,000 Hotels Globally
Skift Take
Hilton announced it has reached the milestone of 9,000 hotels globally, representing nearly three openings per day since reaching 8,000 hotels just over a year ago.
The DJIA rose 43 points while the Nasdaq was up 95, the S&P 500 rose 23 points, and the 10-year treasury yield was down .04 to 4.11%. There is nothing like government turmoil, a shutdown, to get people running to the treasuries. Lodging stocks were mixed.
Cantor Fitzgerald initiated coverage on Host Hotels with a Neutral rating and price target of $19. Also getting a Neutral rating was Pebblebrook Hotel Trust with a $12 target price.
Mizuho initiated coverage on Airbnb with an Outperform rating. Their target price is $150.sign
STR reported U.S. lodging data for the week ended 9/27. The Rosh Hashanah shift was the primary cause of weakness, with U.S. hotel RevPAR down 6.6% on a year-over-year basis. U.S. Group RevPAR was down 18.4%.
Hilton announced it has reached the milestone of 9,000 hotels globally, representing nearly three openings per day since reaching
