Brookfield Buys a Sheraton Convention Hotel in Phoenix
Skift Take
Brookfield Hotel Properties has bought the Sheraton Phoenix Downtown, a 1,003-room convention center hotel. Plus more hotel deal and development news.
The DJIA fell 499 points while the Nasdaq was down 275, the S&P 500 was down 55 points and the 10-year treasury yield was up .01 to 4.12%. Lodging stocks were lower with new 52-week lows set by CHH, WH, SVC, and AHT.Wells Fargo re-initiated coverage on the travel and leisure sector. They are Equal Weight on Hotel C-Corps and Underweight on Timeshares. In the individual names, they launched with Overweight ratings on Hilton, Marriott and Travel+Leisure; Equal Weight on Wyndham, Hyatt and Hilton Grand Vacations; and launched with an Underweight rating on Choice Hotels and Marriott Vacations.
Noble Investment Group and Marriott International announced the debut of the Courtyard by Marriott San Diego Downtown Little Italy. The 334-room hotel has undergone a comprehensive repositioning, including a complete renovation of guestrooms and suites, public areas, food and beverage concepts, more than 10,000 square feet of meeting and event space, and t
